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ALGN Plunges, NVCR's Q3 Revenue Lags Estimate, SELB Continues To Bleed

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

1. Align Technology Inc. (ALGN)

Align Technology is a global medical device company whose products are used by dental professionals.

Lost 20.20% to close Thursday's (Oct.25) trading at $232.07.

News: The Company reported third quarter results, with revenue and earnings beating its outlook. But its earnings and revenue forecast for the fourth quarter of 2018 are well short of analysts' estimates.

Net profit for the recent third quarter was $100.9 million or $1.24 per share on revenue of $505.3 million. This compares with net profit of $82.6 million or $1.01 per share and revenue of $385.3 million in the year-ago quarter.

Looking ahead to the fourth quarter of 2018, the Company expects net revenues in the range of $505 million to $515 million, and diluted EPS in the range of $1.10 to $1.15, which are well short of analysts' expectations. Analysts are expecting the Company to report an EPS of $1.33 and revenue of $545.11 million for the fourth quarter.

2. NovoCure Limited (NVCR)

Lost 18.98% to close Thursday's trading at $33.64.

News: The Company reported smaller-than expected loss but lower-than-expected revenue for the three months ended September 30, 2018.

Net loss for the recent third quarter was $11.7 million or $0.13 per share on revenue of $64.75 million. Analysts polled by Thomson Reuters expected a loss of $0.15 per share and revenue of $65.38 million.

In the third quarter of 2017, net loss was $11.5 million or $0.13 per share on revenue of $50.1 million.

Near-term Catalysts:

-- Initiation of phase 3 pivotal trial of Tumor Treating Fields in recurrent ovarian cancer (Q4 2018).
-- First patient enrollment in phase 2 pilot trial of Tumor Treating Fields in advanced liver cancer, dubbed HEPANOVA trial (Q4 2018).
-- Final data collection from phase 3 pivotal trial of Tumor Treating Fields in Non-small Cell Lung Cancer patients with brain metastases, dubbed METIS (2020).
-- Final data collection from phase 3 pivotal trial of Tumor Treating Fields in non-small cell lung cancer, dubbed LUNAR (2021).
-- Final data collection from phase 3 pivotal trial of Tumor Treating Fields in locally advanced pancreatic cancer, known as PANOVA 3 trial (2022).

3. Ritter Pharmaceuticals Inc. (RTTR)

Lost 15.43% to close Thursday's trading at $1.48.

News: No news

Clinical Trials:

The first phase III study of RP-G28 for lactose intolerance, initiated in June of this year, is underway. Two confirmatory clinical trials are expected for NDA filing.

4. Endologix Inc. (ELGX)

Endologix is a manufacturer of minimally invasive treatments for aortic disorders.

Lost 14.75% to close Thursday's trading at $1.18.

News: The Company announced the pricing of a registered underwritten public offering of its common stock for net proceeds of $20.0 million.

The offering is expected to close on October 29.

5. Selecta Biosciences Inc. (SELB)

Lost 13.99% to close Thursday's trading at $6.33. The stock has been touching new lows, since the Company presented new interim data from a phase II trial of gout drug candidate SEL-212.

News: No news

On October 23, the Company presented new interim data from a phase II trial of SEL-212, a product candidate in development for the treatment of chronic severe gout designed to lower serum uric acid (SUA).

The interim data revealed that evaluable patients who achieved 3-month of SUA control have maintained SUA control in months 4 and 5 of SEL-212 therapy. However, the results failed to impress investors, sending the stock down 33% that day.

Anticipated milestone:

Start a phase III trial of SEL-212 for the treatment of chronic severe gout later this year.

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