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Gainers & Losers Of May 11: SGMO, RNN, XON, MNKD, NVCN...

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The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of May 11, 2017.

GAINERS

1. Sangamo Therapeutics Inc. (SGMO)

Gained 60.92% to close Thursday's (May 11) trading at $7.00

News: The Company inked a global collaboration with Pfizer for Hemophilia A gene therapy.

The agreement is related to the development and commercialization of gene therapy programs for Hemophilia A, including SB-525, one of Sangamo's four lead product candidates, which is expected to enter the clinic this quarter.

Under the terms of the collaboration agreement, Sangamo will receive a $70 million upfront payment, potential milestone payments of up to $475 million and tiered double-digit royalties from Pfizer.

2. Apollo Endosurgery Inc. (APEN)

Gained 24.73% to close Thursday's trading at $6.86.

News: No news

The Company deals with less invasive medical devices for bariatric and gastrointestinal procedures.

Recent event: Apollo Endosurgery reported Q1, 2017 financial results on May 4.

Net loss for the first quarter of 2017 was $8.2 million or $0.77 per share on revenues of $14.6 million. This compares with a net loss of $6.00 million or $25.44 per share and revenues of $16.27 million in the year-ago quarter.

The Company ended March 31, 2017 with cash of $9.2 million.

3. Rexahn Pharmaceuticals Inc. (RNN)

Gained 22.15% to close Thursday's trading at $3.97.

News: No news

Recent event:

The Company implemented a 1-for-10 reverse split of its common stock on May 5. The reverse stock split reduced the number of shares of outstanding Common Stock from approximately 254 million, to approximately 25.4 million and the number of shares of Common Stock the Company is authorized to issue was reduced from 500 million to 50 million.

Near-term catalyst:

-- Preliminary data from phase IIa study of RX-3117 in advanced and metastatic bladder cancer will be presented on June 4, 2017 at the American Society of Clinical Oncology 2017 Annual Meeting.

4. Intrexon Corp. (XON)

Gained 20.76% to close Thursday's trading at $23.62

News: The Company reported first quarter financial results for 2017.

Net loss attributable to Intrexon for the first quarter of 2017 narrowed to $31.4 million or $0.26 per share on revenue of $53.7 million. This compares with a net loss attributable to Intrexon of $64.4 million or $0.55 per share and revenue of $43.4 million in the year ago quarter.

As of March 31, 2017, the Company had cash of $205.2 million.

5. Aralez Pharmaceuticals Inc. (ARLZ)

Gained 17.29% to close Thursday's trading at $1.56.

News: No news

Recent event: On May 9, the Company reported first-quarter financial results

The net loss for the first quarter of 2017 narrowed to $27.5 million or $0.42 per share on revenue of $26.0 million. This compares with a net loss of $33.8 million or $0.73 per share and revenue of $8.1 million in the year-ago quarter.

At March 31, 2017, the Company had cash of approximately $73.7 million.

LOSERS

1. Conatus Pharmaceuticals Inc. (CNAT)

Lost 21.51% to close Thursday's trading at $5.51.

News: The Company has offered to sell 5.2 million shares of its common stock to the public at a price of $5.50 per share. Gross proceeds from the offering are expected to be approximately $28.6 million.

The offering is expected to close on or about May 16, 2017.

The Company has granted the underwriters a 30-day option to purchase up to 780,000 additional shares of its common stock.

2. MannKind Corp. (MNKD)

Lost 20.31% to close Thursday's trading at $1.27.

News: The Company reported wider-than-expected loss for the first quarter of 2017.

The net loss for the first quarter of 2017 is $16.3 million or $0.17 per share compared to a net loss of $24.9 million or $0.29 per share in the year-ago quarter. But analysts polled by Thomson Reuters were expecting a loss of only $0.09.

Total revenue for the recent first quarter is $3 million compared to nil revenue in the year-ago quarter. The total revenue comprised of $1.8 million from the sale of surplus bulk insulin to a third party and $1.2 million of recognized Afrezza product sales as dispensed to patients.

3. Neovasc Inc. (NVCN)

Lost 14.55% to close Thursday's trading at $1.41.

News: The Company reported Q1 financial results

The loss for the first quarter of 2017 is $7.8 million or $0.10 per share on total revenue of $1.48 million. This compares with a net loss of $10.9 million or $0.16 per share and total revenue of $2 million in the year-ago period.

As of March 31, 2017, the Company had cash of $16.2 million, and its working capital deficit is $24.22 million.

Neovasc is involved in litigation with Edwards Lifesciences subsidiary CardiAQ over replacement heart valve technology.

Last May, a federal jury in Massachusetts ordered Neovasc to pay $70 million to CardiAQ for breaching a non-disclosure agreement. In November of 2016, Neovasc was ordered by the jury to pay another $21 million to CardiAQ related to the patent spat.

Unless Neovasc is successful in an appeal of the verdict in the litigation with CardiAQ, it will require significant additional financing in order to pay the damages and to continue to operate its business.

4. Pernix Therapeutics Holdings Inc. (PTX)

Lost 11.82% to close Thursday's trading at $5.97.

News: No news

Recent event:

On April 18, 2017, Pernix amended its Credit Agreement with its lenders Wells Fargo Bank.

Pursuant to the Amendment, the Base Rate Margin was increased from 1.00% to 3.00% and the LIBOR Rate Margin was increased from 2.00% to 4.00%.

According to Form 8-K filing on April 18, 2017, "the Company has previously disclosed that it was reviewing its strategic alternatives, including the potential sale of all or a portion of the Company. As the Company intends to transition to another financing source on or before July 31, 2017, it has also agreed that a failure to repay all borrowings under the Credit Agreement on or before July 31, 2017 would constitute an Event of Default.

Near-term catalyst:

-- The Company is slated to report financial results for the first quarter ended March 31, 2017, after the market close on Monday, May 15, 2017.

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