Today's Top Gainers: PTGX Bounces Back, ALLK Abuzz, AVXL On The Move...

pharmaup dec04

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

1. Protagonist Therapeutics Inc. (PTGX)

Protagonist Therapeutics is a clinical-stage biopharmaceutical company. The Company's lead compound is PTG-300 in development for the potential treatment of iron overload anemia and related rare blood diseases including beta-thalassemia and polycythemia vera.

Gained 72.97% to close Wednesday's (Dec.4, 2019) trading at $8.11, recovering all of yesterday's losses.

News: No news

Recent event:

Yesterday (Dec.3, 2019), the Company announced promising preliminary results from phase II trial of PTG-300 in patients with transfusion-dependent (TD) beta-thalassemia, dubbed TRANSCEND. Dose-related reductions in serum iron and transferrin saturation levels were observed, providing strong rationale for potential utility of PTG-300 in blood disorders directly dependent on disruption of normal iron homeostasis in the body, noted the Company.

Near-term Catalysts:

-- A phase II study of PTG-300 in patients with hereditary hemochromatosis, a third indication of development for the compound, is expected to be initiated by early 2020.
-- An investigator-sponsored study of PTG-300 in patients with myelodysplastic syndromes, which represents a fourth potential indication for PTG-300, is expected to begin in early 2020.
-- A phase II study of PN-943 for the treatment of ulcerative colitis is expected to be initiated in the second quarter of 2020.
-- A phase II study of PTG-200 (also referenced as JNJ-67864238) in patients with moderate to severe Crohn's disease is underway. Protagonist Therapeutics and Janssen Biotech are jointly conducting the development of PTG-200 through completion of Phase 2 clinical proof of concept in the treatment of Crohn's disease.

2. Kodiak Sciences Inc. (KOD)

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

Gained 49.21% to close Wednesday's trading at $73.41. The stock touched an all-time high of $74.48 in intraday trading.

News: No news

Recent events:

-- On December 3, 2019, the Company offered to sell 6 million shares of its common stock to the public at a price of $46.00 per share. The aggregate gross proceeds from the offering are expected to be approximately $276.0 million. The offering is expected to close on or about December 6, 2019. Kodiak Sciences has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock.

-- On December 2, 2019, Kodiak 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. It was initiated in September of this year.

3. Allakos Inc. (ALLK)

Allakos is a clinical-stage biotechnology company focused on developing therapeutic antibodies for the treatment of various eosinophil and mast cell-related diseases.

Gained 43.56% to close Wednesday's trading at $137.73.

News: The Company is considering a sale, Bloomberg has reported, quoting sources.

The lone product candidate of Allakos is AK002, which is under a phase 2a study in subjects with antihistamine-resistant chronic urticaria, and phase II extension study in patients with eosinophilic gastritis and/or eosinophilic gastroenteritis. AK002 has also been successfully tested in a phase I study in patients with severe allergic conjunctivitis, and in a phase I study in indolent systemic mastocytosis.

4. Anavex Life Sciences Corp. (AVXL)

Anavex is a clinical-stage biopharmaceutical company developing treatments for Alzheimer's disease, Parkinson's disease, Rett syndrome, and other central nervous system diseases.

The Company's lead drug candidate is ANAVEX2-73, which is under a phase 2b/3 study in Alzheimer's, and phase II studies in Parkinson's disease dementia and Rett syndrome.

Gained 28.39% to close Wednesday's trading at $3.03.

News: The Company presented interim 2-year data from the phase IIa ANAVEX2-73 extension study, with Alzheimer's disease patients followed for up to five years. The results confirm the rationale to advance the ANAVEX2-73 Alzheimer's disease program through the ongoing Phase 2b/3 Alzheimer's disease clinical study, noted Christopher Missling, Chief Executive Officer of Anavex.

Near-term Catalysts:

-- Clinical updates from Phase 2 Rett syndrome studies, Phase 2 Parkinson's disease dementia study and Phase 2b/3 Alzheimer's disease are anticipated in 2019/2020.

5. Applied Therapeutics Inc. (APLT)

Applied Therapeutics is a clinical-stage biopharmaceutical company developing novel products for the treatment of cardiovascular disease, galactosemia and diabetic complications.

Gained 21.70% to close Wednesday's trading at $24.

News: No news

Clinical Trials & Near-term Catalysts:

-- A phase III registrational trial for AT-001 in Diabetic Cardiomyopathy, dubbed ARISE-HF, is underway.
-- A phase I/II study of AT-007 in Galactosemia, dubbed ACTION-Galactosemia, is ongoing. Data from the adult Galactosemia patient portion of the trial is due this quarter.

Cash and cash equivalents and short-term investments totaled $33.0 million as of September 30, 2019.

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