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SNNA Plunges On Trial Results, TNXP Awaits RECOVERY, APHA Under Scanner?

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The following are some of the pharma/biotech stocks that posted the biggest percentage decline today.

1. Sienna Biopharmaceuticals Inc. (SNNA)

Lost 37.59% to close Monday's (Dec.3) trading at $6.31.

News: The Company's phase IIb study of SNA-120 (pegcantratinib) in mild-to-moderate psoriasis patients with at least moderate pruritus (itch) did not meet the primary endpoint on pruritus.

In the study, although the subjects treated with SNA-120 experienced a meaningful reduction in itch, the result did not reach statistical significance against vehicle. However, subjects treated with SNA-120 (0.05%) achieved statistical significance, compared to vehicle, on important pre-specified regulatory endpoints of psoriasis disease severity, according to the company.

2. Adial Pharmaceuticals Inc. (ADIL)

Lost 26.30% to close Monday's trading at $2.83.

News: No news

Clinical Trial & Near-term Catalyst:

The lead investigational product is AD04 for the treatment of alcohol use disorder "AUD".

A Phase 2b clinical trial of AD04 for the treatment of AUD showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking (all with statistical significance), and no overt safety concerns, according to the Company.
A phase III clinical trial of AD04 is expected to begin in the first half of 2019.

3. Aphria Inc. (APHA)

Lost 23.42% to close Monday's trading at $6.05.

News: A report published by Hindenburg Research alleges that "Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets".

The report is titled "Aphria: A Shell Game with a Cannabis Business on the Side".

4. Tonix Pharmaceuticals Holding Corp. (TNXP)

Lost 22.16% to close Monday's trading at $4.04.

News: No news

Clinical Trials & Near-term Catalyst:

A phase III trial evaluating Tonmya 5.6 mg over 12 weeks of treatment for civilian and military-related posttraumatic stress disorder (PTSD) in approximately 250 participants across approximately 25 clinical sites, dubbed RECOVERY, is expected to start in the first quarter of 2019.

Topline data from the RECOVERY trial is anticipated in the first half of 2020.

5. Realm Therapeutics plc (RLM)

Lost 17.79% to close Monday's trading at $2.45.

News: No news

Recent event:

On September 17, 2018, Realm announced the commencement of a strategic review, including the evaluation of a potential sale of the Company being conducted within the context of a formal sale process.

6. Kodiak Sciences Inc. (KOD)

Lost 14.05% to close Monday's trading at $7.95.

News: No news

Recent event:

The Company went public on the Nasdaq Global Market on October 4, 2018, offering its shares at a price of $10.00 each.

Kodiak ended the third quarter of 2018 with $11.6 million of cash and cash equivalents.

Expected Upcoming Milestones:

-- Initiation of KSI-301 Phase 1b study in patients with wet age-related macular degeneration(AMD), diabetic macular edema(DME), or retinal vein occlusion(RVO) in 2019.
-- Initiation of KSI-301 Phase 2 head-to-head study against Eylea in patients with wet AMD.

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