Hot Biotech Stock Movers (NASDAQ:CRIS, NBIX, AEZS, SNSS)

Shares of Curis, Inc. (NASDAQ:CRIS) are under massive selling pressure on Wedensday and slumped over 45% to $1.79 with over 2.04 million shares traded within first hour trading, compared to its average volume of 468K shares.

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Today’s fall came after the company’s mid-stage colon cancer drug was unsuccessful to to meet the primary goal of a study.

"Despite these disappointing results in metastatic colorectal cancer, we remain encouraged that Genentech and Roche's clinical development of GDC-0449 in other cancers continues to make good progress," said Dan Passeri, Curis' President and Chief Executive Officer.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) and Abbott Laboratories (NYSE:ABT) said Wednesday that both the companies will develop the potential gynecological treatment elagolix, which will treat pain associated with the gynecological condition endometriosis.

The drug lately fulfilled a midstage study and the companies said they will also study the drug candidate as a treatment for uterine fibroids, or benign tumors in the uterus.

Abbott will be awarded worldwide exclusive rights to develop and sell elagolix and in exchange it will pay an upfront money of $75 million to Neurocrine and fund ongoing activities. Neurocrine is eligible for additional payments of about $500 million and in addition, it will make royalty payments on every future product sales of the drug.

Shares of NBIX soared 12.13% to $5.27 following the deal.

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AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) also slumped 7.635 to $1.21 after it announced that it has received commitments from institutional investors to purchase US$12.1 million of securities in a registered direct offering.

AEterna Zentaris Inc. serves as a drug development company specialized in oncology and endocrine therapy. The Company’s product pipeline encompasses compounds at all stages of development, from drug discovery through marketed products.

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) soared over 15% to $0.679 after gaining over 9% in yesterday’s trading session.

Sunesis Pharmaceuticals, Inc. serves as a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of hematologic and solid tumor cancers.

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