5 Top Losers In Healthcare Sector (MRNS, ITCI, XBIO...)

pharmadown july23

The following are some of the healthcare stocks that posted the biggest percentage decline on Tuesday.

1. Marinus Pharmaceuticals Inc. (MRNS)

Marinus is a biopharmaceutical company developing innovative therapeutics to treat epilepsy and neuropsychiatric disorder. Its lead drug candidate is Ganaxolone, which is being developed in three different dose forms, IV, capsule and liquid.

Lost 70.10% to close Tuesday's (July 23) trading at $1.19.

News: The Company announced results from Part 2 of its phase II clinical trial evaluating IV Ganaxolone followed by daily oral Ganaxolone in women with postpartum depression, dubbed Magnolia.

Although the results showed that Ganaxolone administered as a six-hour infusion followed by oral administration was generally safe, well-tolerated and provided clinically meaningful reductions in Hamilton Rating Scale for Depression (HAM-D17) scores at early time points of 6 hours and 24 hours after start of treatment, the HAM-D17 scores at 28 days of treatment were not different from placebo.

2. Intra-Cellular Therapies Inc. (ITCI)

Intra-Cellular Therapies is a biopharmaceutical company developing therapeutics for central nervous system (CNS) disorders.

Lost 31.64% to close Tuesday's trading at $8.19.

News: The FDA panel meeting scheduled for July 31, 2019, to discuss the New Drug Application for Lumateperone for the treatment of schizophrenia has been canceled.

Lumateperone is designed to provide selective and simultaneous modulation of serotonin, dopamine, and glutamate - three neurotransmitter pathways implicated in severe mental illness.

The FDA's final decision on Lumateperone is set for September 27, 2019.

3. Lannett Company Inc. (LCI)

Lannett Company markets and distributes generic pharmaceutical products for a wide range of medical indications.

Lost 19.48% to close Tuesday's trading at $6.78, giving back half of what it gained on Monday.

News: No news

Near-term Catalyst:

The Company is slated to report financial results for fiscal 2019 fourth quarter and full-year ended June 30, 2019, in the last week of August.

For fiscal 2019, the Company expects annual net sales to be in the range of $640 million to $645 million. Net sales reported in fiscal 2018 were $684.6 million.

4. Guardion Health Sciences Inc. (GHSI)

Guardion Health is an ocular health sciences and technologies company.

Lost 19.28% to close Tuesday's trading at $1.34.

News: No news

Recent event:

The Company went public on the Nasdaq Capital Market on April 5, 2019, offering its shares at a price $4.00 each.


The Company markets a medical food product under the brand name Lumega-Z that replenishes and restores the macular protective pigment in conditions such as age-related macular degeneration ("AMD"), computer vision syndrome ("CVS") and diabetic retinopathy. In June of this year, the Company launched its second ocular health formula, GlaucoCetin for glaucoma.

Another product in the kitty is a proprietary medical device called the MapcatSF that accurately measures the macular pigment optical density. The device is currently classified by the FDA as a Class I medical device which does not require pre-market approval.

5. Xenetic Biosciences Inc. (XBIO)

Xenetic Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, research, and development of next-generation biologic drugs and novel orphan oncology therapeutics.

Lost 17.85% to close Monday's trading at $2.76.

News: No news

Recent event:

-- On July 22, 2019, the Company announced that it has closed its previously announced $15.0 million underwritten public offering.

About 2.3 million shares of its common stock and warrants to purchase up to 2.3 million shares of the common stock were sold in the offering. Each share of common stock was sold together with one warrant to purchase one share of common stock at a combined price to the public of $6.50 per share and warrant.

-- On June 25, 2019, a one-for-twelve reverse stock split of the Company's issued and outstanding common stock was implemented.

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