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Gainers & Losers Of July 13: PTX, ALDR, MNKD, TSRO, TOCA...

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The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of July 13, 2017.

GAINERS

1. Pernix Therapeutics Holdings Inc. (PTX)

Gained 21.43% to close Thursday's (July 13) trading at $4.76.

News: No news

Recent events:

-- On June 23, 2017, the Company was added to the Russell Microcap index following annual reconstitution.
-- On May 15, 2017, 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.

Pernix will be transitioning to another financing source on or before July 31, 2017, and 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.

2. Alder Biopharmaceuticals, Inc. (ALDR)

Gained 18.02% to close Thursday's trading at $11.95.

News: The underwriters of the Company's previously announced underwritten public offering have exercised in full their option to purchase an additional 2.25 million shares of Alder's common stock.

On July 12, 2017, the Company offered to sell 15 million shares of its common stock to the public at a price of $10.00 each, and granted the underwriters a 30-day option to purchase up to 2.25 million additional shares of common stock at the public offering price.

Recent event:

On June 27, 2017, Alder reported positive results from its phase III pivotal clinical trial of Eptinezumab for migraine prevention, dubbed PROMISE I.

The primary endpoint, demonstrating statistically significant reductions in monthly migraine days from baseline over weeks 1 through 12 was 4.3 monthly migraine days for 300mg and 3.9 days for 100mg compared to an average 3.2 days for placebo.

Upcoming milestone:

The second pivotal phase III study of Eptinezumab that focuses on chronic migraine, dubbed PROMISE 2, is enrolling participants, and the Company expects to submit the BLA for Eptinezumab in the second half of 2018.

3. MannKind Corporation (MNKD)

Gained 12.82% to close Thursday's trading at $1.32.

News: No news

Recent event:

On July 12, 2017, the Company announced that Patrick McCauley has joined as Chief Commercial Officer with full responsibilities for leading its commercial operations on a global basis, effective immediately.

4. Zafgen Inc. (ZFGN)

Gained 12.57% to close Thursday's trading at $3.76.

News: No news

Anticipated event:

A phase II clinical trial of ZGN-1061 in patients with type 2 diabetes who are overweight or obese is expected to be initiated in the second half of this year.

5. Gemphire Therapeutics Inc. (GEMP)

Gained 9.72% to close Thursday's trading at $15.80, extending its rally for the third straight day.

News: No news

Recent event:

On June 28, 2017, the Company reported positive results from its phase 2b trial of Gemcabene in homozygous familial hypercholesterolemia (HoFH) patients, dubbed COBALT-1.

Near-term catalysts:

-- Top-line results from phase 2b trial of Gemcabene in hypercholesterolemia patients, dubbed ROYAL-1, are expected in the third quarter of 2017.
-- Top-line results from phase 2b trial of Gemcabene in subjects with severe hypertriglyceridemia, dubbed INDIGO-1, are targeted for the first quarter of 2018 based on current pace of enrollment.
-- Initiate phase 2 clinical development program of Gemcabene in nonalcoholic steatohepatitis, known as AZURE-1, in the second half of 2017 with top-line results targeted for second half of 2018.

6. Trevena Inc. (TRVN)

Gained 8.78% to close Thursday's trading at $2.85, extending its rally for the third straight day.

News: No news

Upcoming event:

The Company is slated to make a presentation on its clinical portfolio on Thursday, July 20, 2017.

Pipeline:

The lead product candidate is OLINVO for the management of moderate-to-severe acute pain, which has successfully completed phase III testing. Also in the pipeline are TRV250 for the acute treatment of migraine in Phase 1 development.

Near-term catalysts:

-- Submit NDA for OLINVO for the management of moderate-to-severe acute pain in Q4, 2017.
-- Data from phase I trial of TRV250 are expected to be reported in the second half of 2017.

LOSERS

1. Tesaro Inc. (TSRO)

Lost 6.66% to close Thursday's trading at $129.13.

News: Reports suggest that Tesaro's attempt to sell the company is unlikely to result in a deal because of high valuation.

Buyout rumors have been surrounding Tesaro since February of this year.

2. CytomX Therapeutics Inc. (CTMX)

Lost 6.20% to close Thursday's trading at $16.03.

News: No news

Pipeline:

The Company's lead program is CX-072 for the treatment of cancer, currently being evaluated in a Phase 1/2 clinical trial.

Recent event:

On June 28, 2017, the Company announced the treatment of the first patient in the phase 1/2 clinical trial evaluating CX-2009 as monotherapy in patients with select advanced solid tumors, dubbed PROCLAIM-CX-2009.

3. Tocagen Inc. (TOCA)

Lost 5.42% to close Thursday's trading at $9.94.

News: No news

Recent event: On April 19, 2017, the Company announced the closing of its IPO and exercise of underwriters' option to purchase additional shares, which were sold at a price of $10.00 each.

Pipeline:

Tocagen's lead product candidate is a combination of an investigational biologic, Toca 511, and an investigational small molecule, Toca FC, designed to be used together.

Near-term catalyst:

-- A phase 2/3 clinical trial of Toca 511 & Toca FC, for the treatment of patients with recurrent brain cancer, dubbed Toca 5, is underway. Top-line results from the phase 2 portion of the Toca 5 study are anticipated in the first half of 2018.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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