logo
Plus   Neg
Share
Email

INNT Down 77% This Month, VIVE Sees 79% Rise In Q2 Revenue, BSPM Loses Sheen

pharma-losers-073018-lt.jpg

The following are some of the biotech stocks that declined the most today.

1. Innovate Biopharmaceuticals Inc. (INNT)

Lost 19.53% to close Monday's (Jul 30) trading at $5.48.

News: No news

Pipeline:

The lead drug candidate is Larazotide acetate (INN-202), which has successfully completed its phase 2b efficacy clinical trial for celiac disease. Also in the pipeline are INN-108, indicated for mild to moderate ulcerative colitis, which is entering Phase II trials this year, and INN-329, entering phase III trial for Magnetic Resonance Cholangiopancreatography (MRCP).

Recent events:

On July 11, the Company made a SEC filing related to the proposal of disposition from time to time of up to 13.99 million shares of its common stock, up to an aggregate maximum amount of $175 million.

As part of the 2018 Russell indexes reconstitution, the Company was added as a member of the broad-market Russell 3000, 2000 and Microcap Indexes, effective June 25, 2018.

Near-term Catalyst:

-- Phase III registration clinical trials of Larazotide acetate for celiac disease are expected to begin later in 2018.

2. Viveve Medical Inc. (VIVE)

Lost 17.27% to close Monday's trading at $2.06.

News: No news

Recent event:

On July 10, the Company announced preliminary financial results for the second quarter ended June 30, 2018.

Estimated total product revenue for the three months ended June 30, 2018, is expected to be approximately $5.5 million, representing a 79% increase over total product revenue for the quarter ended June 30, 2017.

Looking ahead to full year 2018, the Company expects revenue to range between $22 million and $24 million. Revenue in 2017 was $15.3 million.

Near-term Catalyst:

The Company is slated to report its second quarter 2018 financial results on August 9, 2018.

3. Biostar Pharmaceuticals Inc. (BSPM)

Biostar is a manufacturer and marketer of pharmaceutical and health supplement products in China.

Lost 15.58% to close Monday's trading at $1.95.

News: No news

Recent event:

On July 19, the Company was issued a Nasdaq Delisting Notification. The delisting notification stated that such delisting would be effective at the opening of business on July 30, 2018 unless the Company requests an appeal of the delisting determination.

4. Translate Bio Inc. (TBIO)

Lost 15.21% to close Monday's trading at $12.21.

News: No news

Recent event:

The Company went public on the Nasdaq Global Select Market as recently as June 28, 2018, offering its shares at a price of $13.00 each.

Translate Bio has a multi-year research and development collaboration and exclusive licensing agreement with Sanofi Pasteur to develop mRNA vaccines for up to five undisclosed infectious disease pathogens. The Company is eligible to receive up to $805 million in payments, which includes an upfront payment of $45 million, and is also entitled to receive tiered royalty payments associated with worldwide sales of the developed vaccines.

Pipeline:

-- MRT5005, for the treatment of cystic fibrosis, or CF, under a Phase 1/2 clinical trial
-- MRT5201, for the treatment of ornithine transcarbamylase, or OTC, a genetic disease, which is expected to enter Phase 1/2 clinical testing in the first half of 2019.

5. Arrowhead Pharmaceuticals Inc. (ARWR)

Lost 12.88% to close Monday's trading at $14.00.

News: No news

Clinical Trials & Near-term Catalysts:

A phase I clinical study of ARO-AAT as a treatment for a rare genetic liver disease associated with alpha-1 antitrypsin deficiency is underway. Initial data from this study is expected in November 2018.

A phase 1/2 study of ARO-HBV as a potentially curative therapy for patients with chronic hepatitis B virus (HBV) infection is ongoing. Initial data from this trial are also anticipated in November 2018.

Also in the pipeline are pre-clinical drug candidates ARO-APOC3 and ARO-ANG3 for Hypertriglyceridemia, ARO-ENaC for Cystic Fibrosis and ARO-HIF2 for Renal Cell Carcinoma.

The Clinical Trial Applications for ARO-APOC3, ARO-ANG3 and ARO-ENaC are expected to be submitted in Q4 2018.

The Company's Amgen partnered programs include AMG 890 and ARO-AMG1 for cardiovascular disease, both of which are in pre-clinical stage. AMG 890 is expected to enter clinic this year.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT