5 Top Losers In Healthcare Sector (TTOO, LXRX, ACRS…)

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

1. T2 Biosystems Inc. (TTOO)

T2 Biosystems is focused on developing innovative medical diagnostic products for critical unmet needs in healthcare.

Lost 59.03% to close Wednesday's (July 31) trading at $0.59.

News: The Company reported a wider loss and a decline in total revenue for the second quarter of 2019.

Net loss and comprehensive loss for the second quarter of 2019 widened to $15.65 million or $0.35 per share on total revenue of $1.80 million. This compared with a net loss and comprehensive loss of $12.32 million or $0.32 per share in the year-ago quarter.

Although total revenue in the second quarter of 2019 was down 54% from the comparable year-earlier quarter, product revenue was a little higher - product revenue in the second quarter of 2019 was $1.27 million and that in second quarter 2018 was $1.22 million.

The Company has also lowered its total revenue outlook for the year 2019. Now, the total revenue is expected to be $8.7 million to $9.6 million. Previously the Company was expecting total revenue to double in 2019 compared to $10.5 million in 2018.

2. Aclaris Therapeutics Inc. (ACRS)

Aclaris Therapeutics is a biopharmaceutical company focused on immuno-inflammatory and dermatological diseases.

Lost 26.44% to close Wednesday's trading at $1.28.

News: The Company reported positive results from its phase II clinical trial of ATI-501 (AUAT-201 Oral), an investigational oral Janus Kinase (JAK) 1/3 inhibitor, in subjects with alopecia areata. Despite the positive results, the stock got whacked.

According to the Company, subjects treated with ATI-501 achieved statistically significant improvement over placebo in several measures of hair growth, including the primary endpoint and certain secondary endpoints of the trial.

The percentage change from baseline in SALT score for placebo was 6%; for 400 mg of ATI-501 was 26%; 600 mg was 30%, and for 800 mg also it was 26%.

Pfizer Inc.'s (PFE) phase 2a study of PF-06651600, an oral Janus kinase (JAK) 3 inhibitor, and PF-06700841, a tyrosine kinase (TYK) 2/JAK1 inhibitor, compared to placebo, in patients with moderate to severe alopecia areata, the results of which were reported last year, showed a Severity of Alopecia Tool (SALT) score of 33.6 points and 49.5 points, respectively.

On June 27, 2019, the Company announced that its phase II clinical trial of ATI-502 (AA-201 Topical), an investigational topical Janus Kinase (JAK) 1/3 inhibitor, in patients with alopecia areata did not meet the endpoints. The news sent the stock down 52% to $2.13 that day.

3. Lexicon Pharmaceuticals Inc. (LXRX)

Lost 18.67% to close Wednesday's trading at $1.35.

News: The Company's second-quarter financial results fell shy of analysts' estimates.

Net loss for the three months ended June 30, 2019, narrowed to $23.0 million or $0.22 per share, from $34.5 million or $0.33 per share, in the corresponding period in 2018. However, the quarterly loss was short of analysts' estimate of $0.08 per share.

Revenues for the recent second quarter decreased to $9.7 million from $13.8 million for the corresponding period in 2018, primarily due to lower revenues recognized from our collaboration and license agreement with Sanofi. Analysts were expecting revenue of $28.52 million for the quarter.

Recent event:

On July 29, 2019, Sanofi announced its decision to terminate its partnership with Lexicon Pharma that was signed in 2015 for the development and commercialization of Zynquista (sotagliflozin), a potential treatment option for people with diabetes. The news sent LXRX plunging 70% to $1.69 that day.

Near-term Catalysts:

-- Topline results from a Phase 1b trial of LX9211 for the treatment of neuropathic pain are anticipated in the second half of 2019.
-- Topline results from core Phase 3 studies for Zynquista in type 2 diabetes are expected in the second half of 2019.
-- Completion of patient enrollment of the initial safety cohort in the Phase 2 study of Telotristat ethyl in biliary tract cancer is expected in the second half of 2019.

4. Acasti Pharma Inc. (ACST)

Acasti is focused on the research, development, and commercialization of its prescription drug candidate CaPre for the treatment of severe hypertriglyceridemia (HTG).

Lost 16.90% to close Wednesday's trading at $2.41.

News: No news

Clinical Trials and Near-term Catalysts:

-- The Company's lead product candidate CaPre for the treatment of severe hypertriglyceridemia is under two phase III trials, dubbed TRILOGY 1 and TRILOGY 2.
The topline results for the primary endpoint of lowering triglycerides for TRILOGY 1 are expected in December 2019 and for TRILOGY 2 in January 2020.

5. ESSA Pharma Inc. (EPIX)

ESSA is a pharmaceutical company focused on developing novel therapies for the treatment of prostate cancer.

Lost 14.70% to close Wednesday's trading at $2.38.

News: The Company has completed the acquisition of Realm Therapeutics plc.

On July 30, 2019, the High Court of Justice in England and Wales sanctioned the scheme of arrangement under Part 26 of the U.K. Companies Act 2006, pursuant to which ESSA acquired all of the issued and outstanding shares of Realm Therapeutics plc.


The Company's lead drug candidate is EPI-7386 for the treatment of metastatic castration-resistant prostate cancer. The IND-enabling studies are under progress, and the Company is on track to enter clinical studies with EPI-7386 in the first quarter of 2020.

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