logo
Share SHARE
FONT-SIZE Plus   Neg

Gainers & Losers Of May 16: AKBA, MTFB, TTNP, IMUC, CAPR...

May16-051617.jpg

The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of May 16, 2017.

GAINERS

1. Akebia Therapeutics Inc. (AKBA)

Gained 16.36% to close Tuesday's (May 16) trading at $15.01.

News: Akebia and global specialty pharmaceuticals company Vifor Pharma Group have entered into an agreement related to Vadadustat.

Vadadustat is an oral hypoxia-inducible factor (HIF) stabilizer currently in phase III development by Akebia for the treatment of anemia associated with chronic kidney disease.

Under the agreement terms, Vifor Pharma will distribute Vadadustat to Fresenius Medical Care dialysis clinics in the United States, upon FDA approval, following which Akebia will receive a $20 million payment from Vifor Pharma.

Vifor Pharma has also agreed to make a $50 million equity investment in Akebia at $14 per share.

2. Motif Bio plc (MTFB)

Gained 16.15% to close Tuesday's trading at $8.99.

News: No news

The Company's lead product candidate is Iclaprim, which is being developed for the treatment of acute bacterial skin and skin structure infections (ABSSSI) and hospital acquired bacterial pneumonia (HABP), including ventilator associated bacterial pneumonia (VABP), infections often caused by MRSA (methicillin resistant Staphylococcus aureus).

Recent event:

Announced positive top line results from a phase III clinical trial of Iclaprim in patients with acute bacterial skin and skin structure infections, dubbed REVIVE-1, on April 18, 2017.

Near-term catalyst:

-- Data from REVIVE-2, the second phase III trial of Iclaprim in patients with acute bacterial skin and skin structure infections, are expected in the second half of 2017.

3. MannKind Corp. (MNKD)

Gained 15.64% to close Tuesday's trading at $1.22.

News: No news

Recent event: The Company reported Q1, 2017 financial results on May 11.

The net loss for the first quarter of 2017 was $16.3 million or $0.17 per share compared to a net loss of $24.9 million or $0.29 per share in the year-ago quarter. Analysts polled by Thomson Reuters were expecting a loss of only $0.09.

Total revenue for the recent first quarter was $3 million compared to nil revenue in the year-ago quarter. The total revenue comprised of $1.8 million from the sale of surplus bulk insulin to a third party and $1.2 million of recognized Afrezza product sales as dispensed to patients.

Anticipated event: The Company is slated to hold its Annual Meeting on May 18, 2017 at 10 a.m. EDT.

4. Titan Pharmaceuticals Inc. (TTNP)

Gained 11.90% to close Tuesday's trading at $2.35.

News: No news

Recent event: The Company reported financial results for the first quarter 2017 on May 10th.

Net loss applicable to common shareholders in the first quarter of 2017 widened to $3.0 million or $0.14 per share from $1.8 million or $0.09 per share in the same quarter in 2016. Titan's revenue was approximately $40,000 in the first quarter of 2017 compared with no revenue in the same period of a year ago.

Near-term catalyst:

The Company has sought FDA's permission to begin clinical trial of Ropinirole implant for Parkinson's disease. The regulatory agency has requested additional information, which the Company plans to submit by the end of the second quarter.

If all goes well as planned, the Company will initiate a phase I/II pharmacokinetic study in the third quarter.

LOSERS

1. EnteroMedics Inc. (ETRM)

Lost 28.20% to close Tuesday's trading at $4.38 after yesterday's gain of over 31%.

Recent event: On May 15, the Company filed its 10Q for Q1, 2017 with the SEC.

Net loss for the first quarter ended March 31, 2017 narrowed to $7.36 million or $1.27 per share from $7.41 million or $0.94 per share in the year-ago quarter.
Revenue generated from sales of obesity therapy vBloc dropped to $40 thousand in Q1, 2017 from $72 thousand in the year-ago quarter.

Analysts polled by Thomson Reuters expected the Company to incur a loss of $0.63 per share on revenue of $200 thousand.

Operating expenses declined to $7.05 million in the first quarter of 2017 from $7.57 million in the first quarter of 2016.

2. Mirna Therapeutics Inc. (MIRN)

Lost 27.59% to close Tuesday's trading at $1.47.

News: Privately held Synlogic Inc. is all set to merge with a wholly owned subsidiary of Mirna in an all-stock transaction. The reverse merger is currently expected to close in the third quarter of 2017.

The merged company will continue under the Synlogic name and the common stock will trade on the NASDAQ global market under a ticker symbol to be announced at a later date.

Following the merger, current Synlogic shareholders are expected to own approximately 83 percent of the combined company and the current Mirna stockholders will own approximately 17 percent of the combined company.

3. ImmunoCellular Therapeutics Ltd. (IMUC)

Lost 23.27% to close Tuesday's trading at $1.22.

News: The Company revealed that its ability to access sufficient additional financial resources for completing the ongoing phase 3 registration trial of ICT-107 and continue its ongoing operations are limited.

ICT-107, the Company's lead product candidate, is a patient-specific, dendritic cell-based immunotherapy targeting glioblastoma.

The Company is considering restructuring its business if a partner or acquirer for ICT-107 is not identified in the near term, but in any event, not later than 30 days.

4. Pernix Therapeutics Holdings Inc. (PTX)

Lost 21.12% to close Tuesday's trading at $4.52.

News: The Company reported lackluster first-quarter 2017 financial results and revealed its liquidity position.

Net loss for the first quarter of 2017 was $29.5 million or $2.94 per share compared to net loss of $25.9 million or $4.24 per share in the year-ago quarter. First quarter 2017 net revenues decreased 8.6% to $29.7 million from $32.5 million in Q1, 2016.

At March 31, 2017, the total principal amount of debt outstanding was approximately $320.8 million.

The Company noted that it intends to transition to another financing source on or before July 31, 2017, and that a failure to repay all borrowings under the revolving credit facility on or before July 31, 2017 would constitute an event of default under the revolving credit facility.

5. Capricor Therapeutics Inc. (CAPR)

Lost 15.97% to close Tuesday's trading at $1.00

News: The Company reported wider-than expected Q1 loss

For the first quarter of 2017, the Company's loss is $3.7 million or $0.17 per share while analysts polled by Thomson Reuters were expecting a loss of $0.15 per share.
The Company had reported a loss of $4.3 million or $0.26 per share in the comparable year-ago quarter.

Recent event:

On May 12, the stock plunged over 61% after a pre-specified administrative interim analysis of the Company's ongoing phase II clinical trial of CAP-1002 in adults with cardiac dysfunction following a large heart attack, dubbed ALLSTAR, found that the trial is unlikely to achieve its primary endpoint.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

comments powered by Disqus
Follow RTT