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Today's Top 5 Gainers In Healthcare Sector (IDYA, ELMD, CLBS…)

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The following are some of today's top gainers in the healthcare sector.

1. Ideaya Biosciences Inc. (IDYA)

IDEAYA Biosciences is an oncology-focused precision medicine company developing targeted therapeutics for patient populations selected using molecular diagnostics.

Gained 47.31% to close Wednesday's (Nov.13, 2019) trading at $8.50.

News: The Company provided a business update and announced financial results for the third quarter ended September 30, 2019.

A phase I/II basket trial with IDE196 in patients with solid tumors harboring GNAQ/11 mutations or PRKC fusions is underway, with the release of interim data expected in Q2/Q3 2020.

The Company has proposed a single-arm phase II clinical trial that may be adequate to support an NDA seeking Accelerated Approval for IDE196 monotherapy in metastatic uveal melanoma (MUM).

A phase I study of LXS196, an oral protein kinase C inhibitor, in patients with metastatic uveal melanoma, being conducted by Novartis, is ongoing.

IDEAYA anticipates that existing cash, cash equivalents and short-term marketable securities of $109.4 million (as of September 30, 2019) will be sufficient to fund planned operations into the third quarter of 2021.

2. Electromed Inc. (ELMD)

Electromed is a medical device company marketing airway clearance therapy, including the SmartVest Airway Clearance System, to patients with compromised pulmonary function.

Gained 30.85% to close Wednesday's trading at $9.29.

News: The Company delivered strong earnings and revenue for the fiscal 2020 first quarter September 30, 2019.

Net income for the first quarter of fiscal 2020 surged to $1.0 million or $0.12 per share from $0.2 million or $0.02 per share in Q1 FY 2019. Net revenue for the recent fiscal first quarter increased 14.1% to $8.3 million from $7.3 million in the year-ago quarter.

At September 30, 2019, the Company had cash of $8.0 million, no debt, working capital of $21.8 million, and shareholders' equity of $27.0 million.

3. Mersana Therapeutics Inc. (MRSN)

Mersana Therapeutics is a clinical-stage biopharmaceutical company developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers.

Gained 20.87% to close Wednesday's trading at $2.78.

News: No news


The lead product candidate, XMT-1536, is in a phase I clinical trial in patients with tumors expressing NaPi2b, including ovarian cancer and NSCLC adenocarcinoma.

4. Clovis Oncology Inc. (CLVS)

Clovis Oncology is a commercial-stage biotechnology company focused on acquiring, developing and commercializing cancer treatments in the United States, Europe, and other international markets. The Company has 1 marketed drug, Rubraca, for ovarian cancer.

News: The Company announced that the Italian Medicines Agency (AIFA) has approved Rubraca (rucaparib) for reimbursement in Italy.

Rucaparib will soon be available in Italy as an option for monotherapy maintenance treatment for adults with relapsed, platinum-sensitive high-grade epithelial ovarian, fallopian tube or primary peritoneal cancer that has responded to platinum-based chemotherapy.

Approximately 5,000 women are diagnosed with ovarian cancer in Italy every year, which equates to roughly 14 every day, and accounts for about 30 percent of all malignant tumors of the female reproductive system.

Recent event:

On November 7, 2019, the Company reported third-quarter financial results.

The net loss for the third quarter of 2019 was $94.1 million, or $1.72 per share on product revenue of $37.6 million. This compared with a net loss of $89.9 million or $1.71 per share and product revenue of $22.8 million in the year-earlier quarter.

For the full year 2019, Clovis now expects global net product revenue to be in the range of $141 million to $147 million. The product revenue in 2018 was $95.4 million.

Near-term Catalyst:

Clovis intends to file the planned sNDA for Rubraca in patients with BRCA1/2-mutant advanced prostate cancer by the end of 2019.

5. Caladrius Biosciences Inc. (CLBS)

Caladrius is a late-stage therapeutics development biopharmaceutical company pioneering advancements of cell therapies in select cardiovascular and autoimmune diseases.

Gained 15.49% to close Wednesday's trading at $2.61.

News: No news

Clinical Trials & Near-term catalysts:

-- A pivotal phase II trial investigating CLBS12 for critical limb ischemia is underway in Japan.
-- A phase II clinical trial of CLBS16 in the USA for coronary microvascular dysfunction, dubbed ESCaPE-CMD, is ongoing. The study is expected to be completed by the end of 2019, and the data is scheduled for presentation at the upcoming American Heart Association Scientific Sessions 2019 on November 16, 2019.
-- The preparatory work for the initiation of a confirmatory phase III trial of CLBS14 in no-option refractory disabling angina, dubbed NORDA, has been completed. However, enrollment in this study will not commence until the Company identifies sufficient capital resources to fund the study.

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