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AKRX In The Cross Hairs, NSPR Slumps On Stock Offering, AKCA On Watch

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The following are some of the stocks that lost the largest percentage in price today in the pharma/biotech sector.

1. Akorn Inc. (AKRX)

Lost 38.41% to close Tuesday's (Feb.27) trading at $18.65.

Akorn is all set to merge with Fresenius Kabi, a subsidiary of Fresenius SE & Co. KGaA, and the merger is set to close by early 2018, subject to regulatory approvals.

News: Investigations are being carried out for alleged breaches of FDA data integrity requirements relating to product development at the Company.

The PR of the Company issued today reads as "To date, the Company's investigation has not found any facts that would result in a material impact on Akorn's operations and the Company does not believe this investigation should affect the closing of the transaction with Fresenius. The Company does not intend to provide further updates as the investigation proceeds. The Company is continuing to work to obtain regulatory clearance for the transaction."

2. InspireMD Inc. (NSPR)

Lost 32.02% to close Tuesday's trading at $2.59.

News: The Company has offered to sell 1 million shares of its common stock at a price to the public of $3.00 per share.

The gross proceeds from the offering are expected to be $3 million from the offering, assuming no exercise of the underwriter's option to purchase additional shares. The offering is expected to close on or about March 1, 2018, subject to customary closing conditions.

3. Akcea Therapeutics Inc. (AKCA)

Lost 25.60% to close Tuesday's trading at $16.80.

Near-term Catalysts:

-- The new drug application for Volanesorsen will be reviewed by an advisory committee on May 10, 2018.

Volanesorsen is proposed for the treatment of a rare lipid disorder called familial chylomicronemia syndrome (FCS), which is characterized by the buildup of fats in the body due to a deficiency in the enzyme lipoprotein lipase.

-- The FDA's final decision on Volanesorsen is expected on August 30, 2018.

4. Lantheus Holdings Inc. (LNTH)

Lost 23.25% to close Tuesday's trading at $15.35.

Recent event:

-- On February 26, 2018, the Company reported financial results for its fourth quarter and full year ended December 31, 2017.

Net income for the fourth quarter of 2017 totaled $97.1 million or $2.47 per share compared to $4.9 million or $0.13 per share for the fourth quarter of 2016. Total revenue for the fourth quarter of 2017 was $81.2 million compared to $74.4 million for the fourth quarter of 2016.

Looking ahead, the Company expects full year 2018 revenue to range between $337 million and $342 million, compared to $326.4 million in 2017.

5. Medpace Holdings Inc. (MEDP)

Lost 17.99% to close Tuesday's trading at $32.02.

Recent event:

On February 26, 2018, the Company reported financial results for the fourth quarter and full year ended December 31, 2017.

Net service revenue for the recent fourth quarter was $99.4 million, an increase of 4.3%, compared to $95.4 million for the comparable prior-year period.

On an adjusted basis, net income for the fourth quarter of 2017 was $14.8 million or $0.39 per share compared to $14.3 million or $0.35 per share in the comparable prior-year period.

Looking ahead to 2018, adjusted net income is forecasted in the range of $66.0 million to $70.0 million, and Adjusted EPS is expected in the range of $1.82 to $1.93. Net service revenue is expected in the range of $412 million to $428 million.
The Company's adjusted net income was $60.5 million or $1.52 per share and net service revenue was $386.5 million in 2017.

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