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ZSAN Implodes, ACAD Sees Sales Growth, VRX Paints A Not So Rosy Picture

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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. Zosano Pharma Corp. (ZSAN)

Lost 24.73% to close Wednesday's (Feb.28) trading at $6.24.

News: No news

Recent event:

-- A 1-for-20 reverse stock split was implemented on January 26, 2018.

Clinical Trials & Near-term Catalysts:

The lead drug candidate is M207 for the treatment of migraine. A long-term safety study of M207 is underway.
-- The Company expects to enroll 100 patients by the end of Q1, 2018, and 250 patients by Q2, 2018.
-- 6-month safety data from the trial is expected in Q4, 2018.
-- 12-month safety data from the trial is expected in Q1, 2019.
-- NDA filing for M207 for the treatment of migraine is expected by the end of 2019.

2. ACADIA Pharmaceuticals Inc. (ACAD)

Lost 20.04% to close Wednesday's trading at $24.92.

News: No news

Recent event:

-- On February 27, 2018, the Company announced its financial results for the fourth quarter and year ended December 31, 2017.

Net loss for the fourth quarter of 2017 narrowed to $68.9 million or $0.55 per share from $78.7 million or $0.65 per share in the same period in 2016.

Net product sales of NUPLAZID, which was first made available for prescription starting in May 2016, were $43.6 million for the fourth quarter of 2017, compared to $12.0 million in the fourth quarter of 2016.

Looking ahead, ACADIA expects that full-year NUPLAZID net product sales for 2018 to be between $255 million and $270 million, with net sales for the first quarter of 2018 between $45 million and $48 million. NUPLAZID net product sales in full year 2017 were $124.9 million.

NUPLAZID is the first and only FDA-approved treatment for hallucinations and delusions associated with Parkinson's disease Psychosis.

3. Community Health Systems (CYH)

Lost 17.15% to close Wednesday's trading at $5.12.

News: The Company incurred a wider loss and a decline in revenue in Q4, 2017.

The net loss attributable to stockholders in Q4, 2017 was $2.013 billion or $17.98 per share on net operating revenues of $3.06 billion. This compared with a net loss attributable to stockholders of $220 million or $1.99 per share and net operating revenues of $4.47 billion in the year-ago quarter.

4. GenMark Diagnostics Inc. (GNMK)

Lost 17.15% to close Wednesday's trading at $5.12.

News: A SEC filing dated Feb.27, 2018 reveals that CEO Hany Massarany sold 17,300 shares of the Company's common stock on February 26th, at an average price of $4.17 each.

Recent event:

On February 27, 2018, the Company reported Q4 and full year 2017 financial results.

Net loss for Q4, 2017 was $14.54 million or $0.26 per share compared to a net loss of $12.68 million or $0.27 per share in the year-ago quarter. Total revenue for the recent fourth quarter rose to $16.02 million from $14.88 million in the year-ago quarter.

Looking ahead, GenMark expects revenue for the full year 2018 to range from $68 to $72 million. Revenue was $52.52 million in 2017.

5. Valeant Pharmaceuticals Intl Inc. (VRX)

Lost 11.50% to close Wednesday's trading at $16.39.

News: The Company's Q4 revenue missed analysts' estimate, and full-year 2018 revenue is expected to be lower than that of 2017.

Total revenues in Q4, 2017 declined 10 percent to $2.16 billion from $2.40 billion in the year-ago quarter. Analysts polled by Thomson Reuters expected revenue of $2.17 billion.

On a non GAAP basis, adjusted net income for the fourth quarter of 2017 declined to $347 million from $443 million in the fourth quarter of 2016.

Looking ahead, the Company expects full-year revenue to be in the range of $8.10 billion to $8.30 billion. Revenue in full-year 2017 was $8.724 billion.

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