Plus   Neg

XENT Trims Revenue Outlook, CTXR On Watch, Busy Year Ahead For NLNK

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

1. Intersect ENT Inc. (XENT)

Intersect ENT is focused on developing therapies for ear, nose and throat care.

Lost 19.47% to close Wednesday's (Aug 1) trading at $26.05.

News: The Company announced second quarter financial results and trimmed its full year revenue outlook.

Net loss for the second quarter of 2018 widened to $4.16 million or $0.14 per share from $2.27 million or $0.08 per share in the year-ago quarter. Revenue for the recent second quarter increased to $26.3 million from $23.9 million the year-earlier quarter.

The company expects to achieve third quarter revenue in the range of $23.8 million to $24.3 million.

Looking ahead, the Company now expects full year revenue to range between $106 million and $109 million, down from its earlier forecast range of $111 million to $116 million.

2. Novus Therapeutics Inc. (NVUS)

Novus is a specialty pharmaceutical company focused on developing products for patients with disorders of the ear, nose, and throat.

Lost 18.14% to close Wednesday's trading at $6.00.

News: No news


The lead product is OP-02, a drug-device product being developed as a first-in-class treatment option for otitis media, which has a global incidence of over 700 million cases every year.

Near-term Catalysts:

The Company is planning to initiate its first-in-human clinical studies with OP-02 in healthy adults in the second half of 2018.

A phase I study of OP-02 in children with otitis media with effusion, and a phase I study in adults with acute otitis media are expected to be initiated in the first half of 2019.

3. NewLink Genetics Corp. (NLNK)

NewLink Genetics is a clinical stage biopharmaceutical company developing novel immuno-oncology product candidates to improve the lives of patients with cancer.

Lost 16.14% to close Wednesday's trading at $3.17.

News: The Company reported financial results for the second quarter of 2018, and provided an update on its clinical programs.

The net loss was $17.3 million or $0.47 per share for the second quarter of 2018 compared to a net loss of $16.7 million or $0.57 per share for the second quarter of 2017.

Near-term Catalysts:

-- Updated results from Phase 1b trial of indoximod plus standard-of-care chemotherapy for patients with newly diagnosed AML expected to be presented in the second half of 2018.
-- Initial Phase 1 data from NLG802 expected to be presented in the second half of 2018.
-- Updated results from Phase 1 trial of indoximod plus radio-chemotherapy for pediatric patients with recurrent malignant brain tumors including initial survival data expected to be presented in the first half of 2019.

4. resTORbio Inc. (TORC)

resTORbio is a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of aging-related diseases.

Lost 13.97% to close Wednesday's trading at $13.24.

News: No news

Recent events:

The Company went public on the Nasdaq Global Select Market on January 26, 2018, offering its shares at a price of $15.00 each.

On July 25, the Company announced topline results from its phase IIb trial evaluating RTB101 alone, or in combination with Everolimus in reducing the incidence of respiratory tract infections (RTIs) in elderly subjects.

There was a statistically significant and clinically meaningful reduction in the percentage of patients with one or more laboratory-confirmed RTIs, the primary endpoint of the study, in the RTB101 10 mg once daily cohort. But RTB101 10 mg twice daily and RTB101 10 mg in combination with Everolimus 0.1 mg did not meet the primary endpoint.

Near-term Catalyst:

-- The Company plans to meet with regulatory authorities to discuss design of pivotal trials of RTB101 and initiate pivotal trials in 2019.

5. Citius Pharmaceuticals Inc. (CTXR)

Lost 12.25% to close Wednesday's trading at $2.18.

News: No news


A phase III trial of Mino-Lok Therapy in combination with systemic antibiotics in the treatment of catheter-related bloodstream infections enrolled the first patient as recently as February of this year. This trial is planned to enroll 700 patients in 50 participating institutions, all located in the U.S. There will be interim analyses at the 50% and 75% point of the trial as measured by the number of patients treated.

CITI-001 (Halo-Lido), which is being developed to treat hemorrhoids, has successfully completed a phase IIa study.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT