Plus   Neg

CGC Cooling Off, PGNX Slumps As Phase 3 Trial Flops, PLXP On Watch

pharma 022718 13sep18 lt

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

1. Progenics Pharmaceuticals Inc. (PGNX)

Lost 17.88% to close Thursday's (Sep.13) trading at $5.99.

News: The Company's phase III study of 1404, a PSMA-targeted small molecule SPECT/CT imaging agent in patients with newly-diagnosed or low-grade prostate cancer did not meet the co-primary endpoint of sensitivity.

Near-term Catalysts:

-- A phase II/III study evaluating the diagnostic accuracy of its PSMA-targeted PET/CT imaging agent, PyL (18F-DCFPyL), in prostate cancer, dubbed OSPREY, has completed enrollment. Top-line data are anticipated in the fourth quarter of 2018.
-- Progenics expects its partner Bayer to initiate a Phase 1 study of PSMA-Targeted Thorium Conjugate (PSMA-TTC) in patients with metastatic castration-resistant prostate cancer (mCRPC) by year end 2018.

2. Bio-Path Holdings Inc. (BPTH)

Lost 16.42% to close Thursday's trading at $1.12.

News: No news

Recent event:

On August 7, the Company commenced Stage 2 of its phase II trial of Prexigebersen in acute myeloid leukemia. Stage 2 of the study includes a cohort of patients treated in combination with Decitabine based on relatively new and positive data with this compound.

The Company plans to perform an interim analysis of each cohort once approximately 19 evaluable patients are reached in the cohort.

3. CEL-SCI Corporation (CVM)

Lost 15.05% to close Thursday's trading at $3.16.

News: No news

Near-term Catalyst:

-- The top line results from a phase III trial of its investigational immunotherapy Multikine in the treatment of head and neck cancer may be available as soon as early 2019.

4. PLx Pharma Inc. (PLXP)

Lost 14.56% to close Thursday's trading at $4.40.

News: No news

PLx is a late-stage specialty pharmaceutical company focused on commercializing two patent-protected products, Vazalore 325 mg and Vazalore 81 mg (referred to together as "Vazalore").

Vazalore 325 mg is NDA-approved by the FDA for over the counter distribution and is the first-ever FDA-approved liquid-filled aspirin capsule. The Company is focused on manufacturing, scale-up and label finalization for Vazalore 325 mg aspirin dosage form and preparing an sNDA for Vazalore 81 mg maintenance dose form.

Near-term Catalyst:

The Company will make a presentation at the Janney Healthcare Conference on September 18.

5. Canopy Growth Corporation (CGC)

Lost 13.67% to close Thursday's trading at $44.07. The stock is down 22% from its all-time high of $56.60 recorded on September 5, 2018.

News: Canopy Growth's peer Tilray has received necessary regulatory permits in Canada and Germany to export medical cannabis flower for distribution to German patients.

Tilray becomes the first and only company with both flower and oil medical cannabis products available in the German market. Canopy Growth exports only oil medical cannabis to Germany.

The use of medical marijuana was legalized in Germany last March. In Canada, medical marijuana was legalized in 2001, and recreational marijuana will be made legal on October 17.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT