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LENS Back In Focus, NVTR Rides High, BTAI For The Long Haul, CHRS Resubmits BLA

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The following are some of today's top gainers in the pharma/biotech sector.

1. Presbia PLC (LENS)

Gained 53.02% to close Thursday's (May 3) trading at $3.55.

News: No news

Pipeline:

The Company's lead product is Presbia Flexivue Microlens, a revolutionary optical lens implant for treating presbyopia, the age-related loss of near vision. The Presbia Flexivue Microlens is currently approved for sale in 42 countries around the world, and has also received CE Mark approval in Europe. It is not approved in the U.S. yet.

A staged pivotal U.S. clinical trial for the Presbia Flexivue Microlens commenced in 2014.

2. STAAR Surgical Co. (STAA)

Gained 26.27% to close Thursday's trading at $21.15.

News: The Company turned to profit in the first quarter of 2018 on 33% sales growth.

Net income for the first quarter of 2018 was approximately $0.6 million or $0.01 per share compared with a net loss of $2.2 million or $0.05 per share for the prior year quarter. Adjusted Net Income for the first quarter of 2018 was $1.8 million or $0.04 per share, compared to an Adjusted Net Loss in the prior year quarter of $1.6 million or $0.04 per share.

Net sales were $27.1 million for the first quarter of 2018, up from $20.4 million reported in the prior year quarter.

3. BioXcel Therapeutics Inc. (BTAI)

Gained 19.66% to close Thursday's trading at $8.40.

News: No news

BioXcel is a clinical stage biopharmaceutical company focused on drug development that utilizes novel artificial intelligence to identify the next wave of medicines across neuroscience and immuno-oncology.

Recent event:

The Company went public on the Nasdaq Capital Market on March 8, 2018, offering its shares at a price of $11.00 each.

Pipeline:

The Company's two most advanced clinical development programs are BXCL501, a sublingual thin film formulation designed for acute treatment of agitation resulting from neurological and psychiatric disorders, and BXCL701, an immuno-oncology agent designed for treatment of a rare form of prostate cancer and for treatment of pancreatic cancer.

Clinical Trials & Near-term Catalysts:

-- Initiate phase IB trials of BXCL501 in geriatric dementia and schizophrenia/bipolar in the first half of 2018.
-- Trial data readouts of BXCL501 are expected in the second half of 2018.
-- Initiate phase II trials of BXCL701 in neuroendocrine prostate cancer (tNEPC) and pancreatic cancer in the second half of 2018.
-- Preliminary readouts from the BXCL701 studies are anticipated in the first half of 2019.
-- Final proof of concept readout from the BXCL701 studies is expected in the second half of 2019.

4. Coherus BioSciences Inc. (CHRS)

Gained 17.32% to close Thursday's trading at $14.90.

News: The Company has re-submitted its biologics license application for CHS-1701, a biosimilar candidate for Amgen Inc's blockbuster treatment, Neulasta.

CHS-1701 was turned down by the FDA last June.

Near-term Catalyst:

The Company is slated to announce its first quarter 2018 financial results after market close on Thursday, May 10, 2018.

5. Cardiovascular Systems Inc. (CSII)

Gained 15.89% to close Thursday's trading at $26.99.

News: The Company reported better-than-expected earnings for the fiscal third quarter, ended March 31, 2018.

Net income for the recent fiscal third quarter was $0.4 million or $0.01 per share compared to a net loss of $1.7 million or $0.05 per share in the prior-year period. Revenue in the fiscal 2018 third quarter was $55.6 million, up from $52.1 million in the comparable year-ago quarter.

Analysts polled by Thomson Reuters were expecting a loss of $0.02 per share on revenue of $55.72 million.

For the fiscal 2018 fourth quarter ending June 30, 2018, the Company anticipates revenue in a range of $57.5 million to $59.0 million, and net income in the range of $1.7 million to $2.6 million, or net earnings per share ranging from $0.05 to $0.08.

Wall Street analysts are looking for earnings of $0.03 per share and revenue of $58.38 million for fiscal 2018 fourth quarter.

6. Nuvectra Corp.(NVTR)

Gained 14.47% to close Thursday's trading at $15.03. The stock touched a new high of $15.15 in intraday trading.

News: The Company reported stellar results for the first quarter ended March 31, 2018.

Net loss for the first quarter of 2018 narrowed to $10.5 million or $0.84 per share from $13.1 million or $1.27 per share for the first quarter of 2017. Total revenue in the first quarter of 2018 was $10.6 million, a 112% increase from $5.0 million in the first quarter of 2017.

Analysts polled by Thomson Reuters were expecting the Company to report a loss per share of $0.93 on revenue of $9.67 million.

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