logo
Plus   Neg
Share
Email

CFRX Fails To Impress, LJPC Falls On Giapreza Outlook, AXGN Disappoints

pharmadown-jan07-lt.jpg

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

1. ContraFect Corporation (CFRX)

Lost 54.95% to close Monday's (Jan.7) trading at $0.87.

News: Although the Company announced positive topline results from its phase II clinical trial of Exebacase (CF-301) for the treatment of Staphylococcus aureus bacteremia including endocarditis, investors were not impressed by the results.

According to the Company, overall, Exebacase, used in addition to standard of care (SOC) antibiotics, demonstrated a 70.4% responder rate at Day 14 compared to a 60.0% responder rate among patients treated with antibiotics alone. Among all patients who received the study drug, 19.4% of Exebacase patients and 14.9% of placebo patients died.

The Company intends to progress Exebacase to phase III testing. As of September 30, 2018, ContraFect had cash of $37.6 million.

2. La Jolla Pharmaceutical Company (LJPC)

Lost 50.19% to close Monday's trading at $5.24.

News: The Company announced lackluster fourth-quarter sales results for its lead drug GIAPREZA, which was launched in March 2018. The drug is approved to treat dangerously low blood pressure.

Fourth-quarter 2018 net sales of GIAPREZA were approximately $4.2 million, up 20% from the third quarter of 2018. Analysts polled by Thomson Reuters expected sales of $7.55 million for the quarter.

The full year 2018 net sales of GIAPREZA were approximately $10.1 million, well below analysts' expectation of $13.46 million.

Near-term Catalysts:

-- Topline results of phase II study of LJPC-401 in patients with Hereditary Hemochromatosis are anticipated in the second half of 2019.
-- Topline results from a pivotal study of LJPC-401 in patients with Beta Thalassemia are expected in mid-2020.
-- Filing of New Drug Application with the FDA in the fourth quarter of 2019 for LJPC-0118 for the treatment of severe malaria.

3. AxoGen Inc. (AXGN)

Lost 23.18% to close Monday's trading at $16.37.

News: The Company announced preliminary unaudited fourth quarter and full year 2018 sales results, which came in below analysts' expectations.

The Company's fourth quarter revenue is expected to be at least $23.4 million, up 38% compared to fourth quarter 2017 revenue of $17.0 million. Analysts polled by Thomson Reuters were expecting revenue of $24.15 million.

For the full year of 2018, revenue is expected to be at least $83.9 million, up 39% compared to 2017 revenue of $60.4 million. Analysts were expecting revenue of $84.64 million.

4. Cutera Inc. (CUTR)

Lost 21.66% to close Monday's trading at $13.27.

News: The Company announced the resignation of James Reinstein as President, Chief Executive Officer and member of its Board of Directors, and also reported preliminary, unaudited revenue for the full year 2018, which fell short of analysts' estimate.

Revenue for full-year 2018 is expected to be approximately $161 million to $163 million, representing 6% to 8% year-over-year growth. Analysts polled by Thomson Reuters are expecting revenue of $164.53 million for the year.

The Company plans to release fourth quarter and full year 2018 financial results on February 20, 2019, after market close.

5. Collegium Pharmaceutical Inc. (COLL)

Lost 19.55% to close Monday's trading at $15.06.

News: The Company provided full-year 2019 guidance for Xtampza ER revenues, Nucynta Franchise revenues, and total operating expenses.

Xtampza ER Revenue is expected to range between $95 million and $105 million, and Nucynta franchise revenue in the range of $200 million to $210 million. So, the total product revenue is expected to be in the range of $295 million to $315 million for 2019. Analysts expect product revenue of $334.44 million for 2019.

The Company is expected to report fourth quarter and full-year 2018 financial results in the first week of March.

6. Translate Bio Inc. (TBIO)

Lost 12.65% to close Monday's trading at $7.32.

News: No news

Clinical Trials & Near-term Catalysts:

--A phase I/II clinical trial of MRT5005, consisting of both a single-ascending dose (SAD) part and multiple-ascending dose (MAD) part, in patients with cystic fibrosis is underway. The first patient dosing in the MAD part is expected to begin in early 2019. Interim data from this trial is expected in the second half of 2019.

-- Screening of patients with OTC deficiency for phase I/II clinical trial of MRT5201 is expected to begin in the first half of 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT