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KOD Dazzles, GLMD On Watch, DRIO Turns Heads…

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

1. Kodiak Sciences Inc. (KOD)

Kodiak Sciences is a clinical-stage biopharmaceutical company developing biologics-based medicines to treat retinal diseases.

Gained 72.47% to close Monday's (Dec.2, 2019) trading at $51.05. The stock touched an all-time high of $72.87 in intraday trading.

News: Kodiak has entered into a funding agreement to sell a capped royalty right on global net sales of its investigational drug KSI-301 to Baker Bros. Advisors for $225 million.

KSI-301 is under a pivotal phase II clinical trial in patients with treatment naïve wet AMD, dubbed DAZZLE.

As per the agreement terms, Baker Bros. Advisors is required to pay to the Company the first $100 million of the funding amount at the closing of the funding transaction (expected to occur on January 10, 2020) and the remaining $125 million of the funding amount upon Kodiak achieving, among other things, 50% enrollment in its two planned pivotal clinical studies of KSI-301 in patients with retinal vein occlusion (estimated to occur in late 2020).

In other news, the Company announced that it has commenced an underwritten public offering of $250 million of shares of its common stock. The underwriters will have a 30-day option to purchase up to an additional $37.5 million of shares.

We alerted our readers to KOD on July 15, 2019, when it was trading around $14.

Related Reading

Kodiak Catches Investors' Eye

KOD closed Monday's trading at $51.05, up 72.47%.

2. ASLAN Pharmaceuticals Limited (ASLN)

ASLAN Pharmaceuticals is a clinical-stage oncology and immunology focused biopharmaceutical company.

Gained 36.13% to close Monday's trading at $5.20. The stock touched a high of $8.18 in intraday trading.

News: The Company announced positive preliminary data from the lowest dose cohort of its ongoing phase I multiple ascending dose study of ASLAN004 for the treatment of moderate-to-severe atopic dermatitis.

As of November 29, 2019, 6 patients had been treated in the lowest dose cohort (200mg) and 3 have completed at least one month of dosing. According to the trial results, the Eczema Area and Severity Index (EASI) scores of the 3 patients were reduced by 85%, 70% and 59% from baseline and the EASI score continued to fall at 4 weeks with maximal efficacy expected at 6 to 8 weeks.

The study will recruit up to 50 moderate-to-severe atopic dermatitis patients and study completion is expected in the second half of 2020, with interim results expected in early 2020.

In other news, the Company announced that it has commenced an underwritten public offering of its American Depositary Shares representing ordinary shares.

3. Oramed Pharmaceuticals Inc. (ORMP)

Oramed Pharmaceuticals is a platform technology pioneer in the field of oral delivery solutions for drugs currently delivered via injection.

Gained 29.71% to close Monday's trading at $5.72.

News: No news

Recent event:

On November 12, 2019, the Company announced positive results from the initial cohort of its phase IIb trial evaluating the efficacy and safety of its lead oral insulin candidate, ORMD-0801, which has the potential to be the first commercial oral insulin capsule for the treatment of diabetes.

Near-term Catalyst:

The read-out of data from a second cohort of the phase IIb trial of ORMD-0801 is expected in the first quarter of 2020 and further discussions with the U.S. FDA about phase III trials.

4. Galmed Pharmaceuticals Ltd. (GLMD)

Galmed Pharma is a clinical-stage biopharmaceutical company focused on the development of Aramchol for the treatment of nonalcoholic steatohepatitis ("NASH") and fibrosis.

Gained 29.33% to close Monday's trading at $5.82.

News: No news

Clinical Trials & Near-term Catalysts:

-- A phase 3/4 global study of Aramchol in subjects with NASH and fibrosis, dubbed ARMOR, is underway. Enrollment in this trial is expected to be completed by the second quarter of 2021, with top-line results anticipated by the fourth quarter of 2022.

As of September 30, 2019, the Company had cash and cash equivalents, short-term deposits and marketable securities of $79.7 million.

5. DarioHealth Corp. (DRIO)

Dario offers a digital blood glucose monitoring system accessible through its mobile phone app; modules to regularly monitor medication, weight, blood pressure, food and exercise; weekly progress reports; personalized coaching guidance for individual users; feedback alerts; relevant content delivery and follow-up with dedicated professionals via in-app chats features, emails and calls.

Gained 17.06% to close Monday's trading at $5.01.

News: No news

Recent events:

-- On November 14, 2019, the Company presented new clinical data at the 19th Annual Diabetes Technology Meeting ("DTM") conference in Bethesda, Maryland, which showed remarkable improvements in average blood glucose levels (BGavg) and in-range measurements in patients with diabetes using Dario's digital therapeutics platform and dedicated one-on-one personal health coaching. According to the Company, 45% of the study group reduced their average blood glucose levels to under 140 mg/dL after only three months of use of Dario's blood glucose monitoring system, coupled with personal Dario coaching.

-- On November 25, 2019, the Company announced that its online membership offering will now be available for purchase in physical retail stores. The "Membership-in-a-Box" (MIB) package was designed to reach consumers with chronic conditions such as diabetes who shop at retail stores. By selling its membership in physical stores, the Company hopes to increase its reach to the millions of consumers who visit Best Buy each year while potentially increasing the recurring revenue streams. Revenue for the nine months ended September 30, 2019, was $5.76 million, a 1.2% increase from $5.69 million in the comparable year-ago period.

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