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PRAN Gets New Lease Of Life, ADIL On Watch, GNPX Abuzz

pharmaup jan02 lt

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

1. Prana Biotechnology Limited (PRAN)

Gained 50% to close Wednesday's (Jan.2) trading at $1.92.

News: Prana and Boston-based Life Biosciences LLC have entered into a securities purchase agreement.

Under the terms of the agreement, Life Biosciences will initially invest US$7.5 million (approx. A$10.6 million) in Prana.

Prana will raise an additional US$2 million from other investors, totaling US$9.5 million (approx. A$13.4 million). A further amount of up to approximately A$31 million (approx. US$21.9 million) would be invested by Life Biosciences and other investors on exercise of short-term warrants being issued as part of the transaction.

2.PLx Pharma Inc. (PLXP)

Gained 37.25% to close Wednesday's trading at $2.10.

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 an FDA-approved aspirin product being developed to provide high-risk cardiovascular and stroke patients. 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.

The launch of Vazalore is planned for mid-2020.

News: No news

3. Genprex Inc. (GNPX)

Genprex is a clinical-stage gene therapy company developing a new approach to treating cancer.

Gained 27.27% to close Wednesday's trading at $1.40.

News: No news

The Company went public on the Nasdaq Capital Market on March 29, 2018, offering its shares at a price of $5.00 each.

Clinical Trial:

A phase I/II clinical trial evaluating its investigational drug Oncoprex in combination with Roche's Tarceva for the treatment of non-small cell lung cancer is underway.

4. Idera Pharmaceuticals Inc. (IDRA)

Gained 27.08% to close Wednesday's trading at $3.52.

News: No news

Recent event:

On December 14, the Company presented safety and efficacy update from its ongoing phase II expansion of ILLUMINATE-204 trial investigating its investigational drug Tilsotolimod in combination with Bristol-Myers Squibb's (BMY) Yervoy in patients with PD-1 refractory/relapsed metastatic melanoma.

According to the trial results, 32.4% of patients evaluable for efficacy achieved partial response or better, and 76.5% of patients achieved disease control.

5. Adial Pharmaceuticals Inc. (ADIL)

Gained 26.95% to close Wednesday's trading at $6.50. The stock has gained more than 230% in the last 14 trading days.

News: No news

Pipeline & Near-term Catalyst:

The Company's lead product candidate is AD04, a genetically targeted therapeutic agent, for the treatment of alcohol use disorder, and opioid use disorder.

In a phase IIb trial, AD04 showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking in patients with alcohol use disorder.

A phase III clinical trial of AD04 for the potential treatment of alcohol use disorder in subjects with certain target genotypes is expected to commence in 2019.

Recent event:

On December 24, 2018, the Company announced that it has retired all outstanding debt.

6. Xtant Medical Holdings Inc. (XTNT)

Xtant is focused on developing regenerative medicine products and medical devices.

Gained 25.47% to close Wednesday's trading at $2.25.

News: No news

Recent event:

On Nov.14, 2018, the Company reported financial and operating results for the third quarter ended September 30, 2018.

Net loss from operations for the third quarter of 2018 narrowed to $3.2 million or $0.24 per share from $8.5 million or $5.62 per share for the same period in the prior year, thanks to reduced operating expenses and lower interest expense.

Revenue for the recent third quarter declined to $17.3 million from $19.8 million in the same period last year. This decrease occurred primarily due to company-initiated discontinued distributor arrangements and channel management challenges.

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