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DXR Continues To Slide, Keep An Eye On ASNS, Data Fails To Propel PTGX

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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. Protagonist Therapeutics Inc. (PTGX)

Lost 57.17% to close Monday's (Mar.26) trading at $8.75.

News: The Company is discontinuing its phase 2b study of PTG-100 in patients with moderate to severe ulcerative colitis, dubbed PROPEL, following an interim analysis by an independent Data Monitoring Committee.

The Data Monitoring Committee has deemed the trial to be futile based on an analysis of the primary endpoint of clinical remission.

2. Daxor Corp. (DXR)

Lost 17.21% to close Monday's trading at $8.90.

News: No news

The Company manufactures and markets FDA-cleared BVA-100 blood volume analyzer, which is used in conjunction with a single-use diagnostic kit.

Recent news:

-- On Mar.14, 2018, the Company announced new data from its study showing that patient care individualized by its Precision Blood Volume Analysis (BVA) reduces heart failure readmissions by 56% and mortality by over 80%. The stock rose as much as 62% that day to touch $8.10 in intraday trading. The following day, the stock gained another 177% to touch an intraday high of $21.66 on Mar.15, 2018.

3. Cesca Therapeutics Inc. (KOOL)

Lost 16.79% to close Monday's trading at $2.23.

News: The Company has entered into definitive purchase agreements with certain institutional investors to sell in a registered direct offering 609,636 shares of its common stock at a purchase price of $2.27 per share.

The gross proceeds of this offering are expected to be approximately $1.38 million, before deducting placement agent's fee and offering expenses. The closing of the offering is expected to occur on or about March 28, 2018.

4. Kala Pharmaceuticals Inc. (KALA)

Lost 13.78% to close Monday's trading at $14.73.

News: The Company reported financial results for the fourth quarter and full year 2017.

Net loss was $11.3 million, or $0.46 per share, for the quarter ended December 31, 2017 compared to a net loss of $8.4 million, or $7.11 per share, for the same period in 2016.

The Company ended the year 2017 with cash of $114.6 million.

Near-term Catalyst:

-- The New Drug Application for Inveltys for post surgical pain and inflammation is under FDA review, with a decision expected on August 24, 2018.

5. Cidara Therapeutics Inc. (CDTX)

Lost 13.08% to close Monday's trading at $4.65.

News: No news

Recent event:

-- On Mar.19, 2018, the Company reported positive top-line data from STRIVE - a phase II international trial of Rezafungin in the treatment of candidemia and invasive candidiasis. Despite the positive results, the stock lost 24% of its value and fell to $6.00 that day.

Near-term Catalysts:

-- A phase III study of Rezafungin in approximately 150 modified intention-to-treat (mITT) patients with candidemia and/or invasive candidiasis, dubbed ReSTORE, is expected to commence in mid-2018. Top-line data from this study is expected in 2020.
-- A phase III pivotal clinical trial in patients undergoing allogeneic bone marrow transplant to enable use of Rezafungin in a 90-day prophylaxis regimen to prevent infections due to Candida, Aspergillus and Pneumocystis, dubbed ReSPECT Prophylaxis, is also expected to be initiated in mid-2018. This trial is expected to produce an interim futility read-out in 2019 and provide top line results in 2020.

6. Omeros Corporation (OMER)

Lost 12.88% to close Monday's trading at $12.27.

Recent event:

-- On Mar.23, 2019, Wedbush downgraded Omeros to "Neutral" from "Outperform", and lowered its price target to $19 from $47.

7. Arsanis Inc. (ASNS)

Lost 10.33% to close Monday's trading at $21.97.

News: No news

Recent event:

--On November 16, 2017, the Company went public on the NASDAQ Global Market offering its shares at a price of $10 each.

Upcoming event:

-- An overview of the company will be presented at the Needham & Company 17th Annual Healthcare Conference on March 27, 2018, at 12:45 p.m. ET.

Clinical Trials & Near-term catalysts:

-- The Company's investigational lead product candidate is ASN100, which is currently in a Phase 2 clinical trial for the prevention of S. aureus pneumonia in high-risk, mechanically ventilated patients.
-- Top line safety and efficacy results from the phase II study of ASN100 are expected in the second half of 2018.

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