The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of April 18, 2017.
1. XOMA Corporation (XOMA)
Gained 14% to close Tuesday's (Apr.18) trading at $7.41.
News: The Company presented positive data from pre-clinical studies investigating the activity of its anti-PTH1R antagonist monoclonal antibody.
Anti-PTH1R is a potential first-in-class therapeutic agent for the treatment of hyperparathyroidism (HPT) and humoral hypercalcemia of malignancy (HHM).
2. Akari Therapeutics Plc (AKTX)
Gained 12.47% to close Tuesday's trading at $14.97.
News: No news
-- Interim results from the phase II trial evaluating Coversin in patients with Paroxysmal nocturnal haemoglobinuria (PNH) who have never received a complement blocking therapy will be released on April 24, 2017.
Company Spotlight: Akari Therapeutics
3. Cytokinetics Inc. (CYTK)
Gained 10.21% to close Tuesday's trading at $12.95.
News: The Company is all set to join S&P SmallCap 600 GICS Biotechnology Sub-Industry index, replacing Cardinal Financial Corp. (CFNL) effective prior to the open on Monday, April 24, 2017.
4. Catabasis Pharmaceuticals Inc. (CATB)
Gained 10.20% to close Tuesday's trading at $1.62.
News: The Company will be presenting previously reported data from Part A and Part B of the MoveDMD trial of edasalonexent (CAT-1004) for the treatment of Duchenne muscular dystrophy at the American Academy of Neurology 69th Annual Meeting on April 25, 2017.
The MoveDMD trial is a three-part phase I/II clinical trial investigating the safety and efficacy of Edasalonexent in boys ages 4 - 7 affected with DMD (any confirmed mutation).
Part A of the MoveDMD trial evaluated the safety, tolerability and pharmacokinetics of Edasalonexent and showed positive results. Sixteen of the 17 boys enrolled in Part A continued to Part B of the trial, which is a phase II trial that evaluated the safety and efficacy of Edasalonexent in DMD over a 12-week period in approximately 30 boys.
On January 31, 2017, after the market close, the Company reported that Part B of the MoveDMD trial did not meet the primary efficacy endpoint. The news sent the stock tumbling more than 70% to $1.18 the following day.
Part C, which is an open-label extension that includes dosing with Edasalonexent for 36 weeks beyond the 12-week placebo-controlled portion of the trial (Part B), is ongoing. Part C will evaluate longer term safety and efficacy with the same clinical end points as Part B.
5. Xenetic Biosciences Inc. (XBIO)
Gained 8.81% to close Tuesday's trading at $4.57.
News: No news
Xenetic's lead program is XBIO-101 (Virexxa), under phase II testing for treatment of progesterone resistant endometrial cancer. The Company also has an out-license agreement with Shire for SHP656, which is under phase I/II trial for the treatment of hemophilia A.
- Patient recruitment in the phase II trial of XBIO-101 is expected to commence this quarter.
- Data from phase I/II clinical trial of Shire plc's (SHPG) SHP656, for treatment of hemophilia A is expected in Q2 2017.
SHP656, is being developed using Xenetic's proprietary PolyXen platform technology. If the outcome of the phase I/II clinical trial of SHP656 is successful, Xenetic expects Shire to launch a phase III trial in 2017. Xenetic has the potential to receive from Shire up to $100 million in cash milestones plus royalties linked to sales.
6. TearLab Corp. (TEAR)
Gained 8.48% to close Tuesday's trading at $2.43.
News: No news
Recent event: On Mar.9th, the Company reported Q4 and full-year 2016 financial results.
The net loss for the fourth quarter of 2016 was $4.3 million or $0.81 per share on revenue of $7.1 million. This compared with a net loss of $8.9 million or $2.64 per share and revenue of $6.8 million in the year-ago quarter.
1. Cleveland BioLabs Inc. (CBLI)
Lost 27.29% to close Tuesday's trading at $3.49. It's a pullback after yesterday's gain of over 207%.
News: No news
Recent event: Yesterday, the Company announced that it has received consent from the FDA for initiation of an in vivo biocomparability study of two formulations of Entolimod - namely the one that is proposed for use under the pre-Emergency Use Authorization and the other drug formulation that was used in previously conducted preclinical and clinical studies.
Entolimod is a novel, broad-spectrum investigational drug being developed to mitigate the life-threatening consequences of a radiological or nuclear attack.
2. ADEPTUS HEALTH INC. (ADPT)
Lost 26.87% to close Tuesday's trading at $1.47.
News: Another class action lawsuit has been filed today on behalf of people who purchased securities of Adeptus Health between April 29, 2016 and March 1, 2017. This time it is by law firm Safirstein Metcalf LLP.
On March 2, 2017, the Company filed a Form 12b-25 announcing the delay in the filing of its Form 10-K and revealing weaknesses in internal controls. The news sent the value of Adeptus shares down more than 50% to $2.79 that day.
Recent event: On March 12, the Company announced Schedule 13D filing by hedge fund Wexford Capital LLC. The filing reveals that the hedge fund picked up a stake of 8.54% in the Company on Apr.5, 2017.
By definition, Schedule 13D is a form that must be filed with the SEC when a person or group acquires more than 5% of any class of a company's shares. (Source: Investopedia).
Schedule 13D filing
3. Sunshine Heart Inc. (SSH)
Lost 17.68% to close Tuesday's trading at $1.35.
News: No news
Recent event: On March 29th, the Company announced that the Nasdaq Hearings Panel has granted time until May 10, 2017 to evidence full compliance with all applicable criteria for continued listing on The Nasdaq Capital Market, including the $2.5 million stockholders' equity requirement.
On Feb.10, 2017, the Company received a formal notice from The NASDAQ Stock Market LLC indicating that it has evidenced compliance with the minimum $1.00 bid price requirement.
A 1-for-30 reverse split of common stock came into effect on January 13, 2017.
4. Sorrento Therapeutics, Inc. (SRNE)
Lost 14.67% to close Tuesday's trading at $1.60.
News: No news
Recent event: On April 13th, the Company priced its public offering of 23.62 million shares of its common stock at $2.00 each. The underwriters have the right to purchase up to 3.54 million additional shares, for a period of up to 30 days.
5. Agios Pharmaceuticals Inc. (AGIO)
Lost 9.28% to close Tuesday's trading at $50.36.
News: The Company has announced the pricing of $250 million public offering of common stock.
Agios has offered to sell 5.05 million shares of its common stock to the public at a price of $49.50 each. The gross proceeds from the offering are expected to be roughly $250 million.
The underwriters have a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering on the same terms and conditions.
The offering is expected to close on or about April 24, 2017.
by RTT Staff Writer
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