 Heres a roundup of top developments in the biotech space over the last 24 hours:Scaling The Peaks Biotech Stocks Hitting 52-week Highs June 1 Adaptimmune Therapeutics PLC - ADR NASDAQ: ADAP Aileron Therapeutics Inc NASDAQ: ALRN announced positive interim results for its Phase 1b2 study of ALRN-6924 as an agent to protect patients against chemotherapy-induced toxicity argenx SE - ADR NASDAQ: ARGX Bio-Rad Laboratories, Inc. Class A Common Stock NYSE: BIO Cerus Corporation NASDAQ: CERS Dynavax Technologies Corporation NASDAQ: DVAX reacted to reports of partner Sinovac expressing confidence in its coronavirus vaccine Emergent Biosolutions Inc NYSE: EBS announced 628-million dollar BARDA funding for rapid development of COVID-19 vaccine candidates Imara Inc NASDAQ: IMRA Immunovant Inc NASDAQ: IMVT Inari Medical Inc NASDAQ: NARI Kala Pharmaceuticals Inc NASDAQ: KALA MEI Pharma Inc NASDAQ: MEIP Novo Nordisk AS NYSE: NVO Protara Therapeutics Inc NASDAQ: TARA TFF Pharmaceuticals Inc NASDAQ: TFFP Turning Point Therapeutics Inc NASDAQ: TPTX Vermillion, Inc. NASDAQ: VRML Y-mAbs Therapeutics, Inc NASDAQ: YMABDown In The Dumps Biotech Stocks Hitting 52-week Lows June 1 Ocugen Inc NASDAQ: OCGN announced discontinuation of Phase 3 trial of OCU300 for ocular Graft vs. Host DiseaseStocks In Focus Roches Cancer Therapy Combo Approved For Treatment-Naive Liver Cancer Roche Holdings AG Basel ADR Common Stock OTC: RHHBY said the FDA approved its Tecentriq in combination with Avastin for the treatment of people with unresectable or metastatic hepatocellular carcinoma who have not received prior systemic therapy.Allenas Momentum Carries Through Ahead of Conference Presentation Allena Pharmaceuticals Inc NASDAQ: ALNA shares were surging ahead of the companys presentation at the Jefferies Virtual Healthcare Conference. The shares were higher in Mondays regular session, reacting to an initiation by H.C. Wainwright with a Buy rating and 10 price target.Analyst Edward White said the biopharma is an undervalued enzyme therapeutic company.Following a 31.55 jump to 2.21 in Mondays regular session, Allena shares were rallying by 35.29 to 2.99 in Tuesdays premarket session. Esperion Shares Slip As Shareholder Lawsuit Accorded Class Action Status Esperion Therapeutics Inc NASDAQ: ESPR shares came under pressure after a federal district court accorded class action status to a lawsuit filed on behalf of investors, alleging the company issued misleading statements about its non-statin cholesterol-lowering drug Nexletol in a bid to artificially inflate the stock price.The stock fell after it was evident the drug did not have a clear path to regulatory approval, the lawsuit alleged.The stock slid 3.07 to 40.77 in after-hours trading.Related Link: The Week Ahead In Biotech: ASCO, Menlo And Merck FDA Decisions, IPOs In The Spotlight Pfizer To Invest Up To 500M Across Portfolio Of Clinical-Stage Biotechs Pfizer Inc. NYSE: PFE announced the establishment of the Pfizer Breakthrough Growth Initiative, through which the company said it will invest up to 500 million in biotechnology companies to help provide funding and access to its scientific expertise to ensure continuity of the biotechnology companies most promising clinical development programs.Myovant Gains On NDA Submission For Drug Combo to Treat Menstrual Bleeding Sumitovant Biopharma said its affiliate Myovant Sciences Ltd NYSE: MYOV has submitted an NDA for the once-daily relugolix combo tablet, comprising relugolix 40 mg, estradiol 1 mg and norethindrone acetate 0.5 mg, for the treatment of women with heavy menstrual bleeding associated with uterine fibroids.The stock was trading 0.95 higher at 17.09 in the premarket session.Sanofi Announces European Nod For Multiple Myeloma Drug Sanofi SA NASDAQ: SNY said the European Commission has approved its Sarclisa in combination with pomalidomide and dexamethasone for the treatment of adult patients with relapsed and refractory multiple myeloma who have received at least two prior therapies including lenalidomide and a proteasome inhibitor and have demonstrated disease progression on the last therapy.Aytu Retires 15M In Debt Aytu Bioscience Inc NASDAQ: AYTU said it has retired 15 million debt assumed in connection with its previously announced acquisition of Cerecor Incs NASDAQ: CERC Commercial Portfolio.Bidding War For Tetraphase Heats Up Tetraphase Pharmaceuticals Inc NASDAQ: TTPH said a revised offer from Melinta received in response to another revised offer from another suitor, AcelRx Pharmaceuticals Inc NASDAQ: ACRX, has been deemed a superior offer by its board.Melinta and AcelRx have been engaged in a bidding war to lap up Tetraphase, with both companies sweetening their respective bids a few times.The revised AcelRx offer received May 27 called for exchanging each unit of Tetraphase stock for 0.5872 in cash and 0.7409 AcelRx shares, representing 1.70 in upfront per share value, and one CVR, entitling the holders to receive potential payments of up to 16 million in cash upon the achievement of certain future Xerava net sales milestones starting in 2021.Melintas most recent bid offered 39 million in cash,plus an additional 16 million in cash potentially payable under CVR to be issued in the proposed acquisition.In premarket trading Tuesday, Tetraphase gained 6.9 to 2.48, while AcelRx shares were surging higher by 6.3 to 1.35.Offerings OraSure Technologies, Inc. NASDAQ: OSUR said it has commenced an underwritten public offering of 8 million shares of its common stock.The stock slipped 4.32 to 13.51 in after-hours trading.Adaptimmune priced its underwritten public offering of 20.5 million shares of its ADSs at 11 each for gross proceeds of 225.5 million. The company expects the offering to close on or about June 4.Kaleido Biosciences Inc NASDAQ: KLDO priced its underwritten public offering of 4.75 million shares of its common stock at 7.50 per share. The company expects to raise gross proceeds of 35.6 million from the offering. All the shares are being offered by the company. The offering is expected to close June 4.The stock was trading 2.87 higher at 8.24 in the premarket session. Allogene Therapeutics Inc NASDAQ: ALLO priced its underwritten public offering of 11.702 million shares at 47 per share for gross proceeds of 550 million.The offering is expected to close on or about June 4.The stock fell 0.57 to 48.66 in after-hours trading.Guardant Health Inc NASDAQ: GH announced the commencement of a proposed underwritten public offering of 10 million shares of its common stock, of which 3 million shares are being offered by Guardant Health and 7 million by SoftBank Investment.The stock was up 0.1 at 48.99 premarket. G1 Therapeutics Inc NASDAQ: GTHX said it has entered into a debt financing agreement with Hercules Capital, Inc. NYSE: HTGC for up to 100 million. The company plans to use the proceeds to fund commercialization and further development of trilaciclib, its first-in-class investigational therapy designed to improve outcomes for people with cancer treated with chemotherapy.Intellia Therapeutics Inc NASDAQ: NTLA said it has commenced an underwritten public offering of 75 million of shares of its common stock. All of the shares in the proposed offering are to be sold by Intellia.Intellia shares were trading 0.91 higher at 20.73 premarket Tuesday.Related Link: Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates See more from Benzinga Pfizer Analyst Takes Stock Of Negative Breast Cancer Data, Pharma Giants 2025 GoalsC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 