Monday, December 16, 2019

Top Gainers: CLSD Making A Second Try, RLMD Abuzz, Busy Year Ahead For BTAI

The following are some of the stocks that gained the most in the healthcare sector on Monday.

1. Emmaus Life Sciences Inc. (EMMA.OB)

Emmaus Life Sciences is a commercial-stage biopharmaceutical company.

Gained 32.21% to close Monday’s (Dec.16) trading at $2.75.

News: No news

Recent event:

On November 12, 2019, the Company reported financial results for the third quarter ended September 30, 2019.

Net revenues for the third quarter of 2019 increased 25% to $6.1 million, up from $4.9 million for the same period last year. Revenue is generated from sales of Endari, indicated for the treatment of sickle cell disease.

2. Clearside Biomedical Inc. (CLSD)

Clearside Biomedical is a biopharmaceutical company developing treatments that restore and preserve vision for people with serious back of the eye diseases.

Gained 22.65% to close Monday’s trading at $2.22.

News: No news

Near-term Catalyst:

The Company expects to resubmit its New Drug Application for XIPERE for the treatment of macular edema associated with uveitis in the first quarter of 2020.

3. La Jolla Pharmaceutical Company (LJPC)

La Jolla Pharmaceutical Company is a biopharmaceutical company.

Gained 21.49% to close Monday’s trading at $4.07.

News: No news

Recent events:

— On November 25, 2019, the Company announced its decision to discontinue a pivotal study of LJPC-401 as a treatment for iron overload in beta-thalassemia (BT) patients who, despite chelation therapy, have cardiac iron levels above normal. The news sent the stock down over 50% to $2.59 that day.

A recent interim analysis of the trial that included approximately one-half of the target-enrolled patients showed no significant differences in the primary endpoint or key secondary endpoints between patients on the treatment arm and patients on the control arm.

— On November 12, 2019, the Company reported financial results for the third quarter ended September 30, 2019.

Total revenue for the third quarter of 2019, was $5.7 million compared to $3.47 million in the year-ago quarter. Revenue is generated from product sales of Giapreza, a drug to treat dangerously low blood pressure. Net loss for the recent third-quarter narrowed to $29.2 million or $1.08 per share from $50.7 million or $1.93 per share for the same period in 2018.

4. BioXcel Therapeutics, Inc. (BTAI)

BioXcel Therapeutics is a clinical-stage biopharmaceutical company focused on drug development that utilizes novel artificial intelligence to identify the next wave of medicines across neuroscience and immuno-oncology.

Gained 20.62% to close Monday’s trading at $8.19.

News: No news

Near-Term Catalysts:

— A phase 1b/2 double combination study of BXCL701 and Keytruda for treatment-emergent neuroendocrine prostate cancer (tNEPC) is underway, and additional safety data readouts from both cohorts are expected in the fourth quarter of this year, followed by expected initial efficacy data in the first half of 2020.
— Two Phase 3 studies of BXCL501 for the acute treatment of agitation in patients with schizophrenia and bipolar disorder are expected to be initiated by year-end, with available topline results expected in mid-2020.

5. Relmada Therapeutics (RLMD)

Relmada Therapeutics is a clinical-stage biotechnology company.

Gained 17.16% to close Monday’s trading at $40.

News: No news

Recent events:

— On December 9, 2019, the Company closed its $115 million public offering of common stock, including full exercise of underwriters’ option to purchase additional shares, sold at a public offering price of $30.00 per share.
— On October 15, 2019, the Company reported promising results from its phase II clinical study evaluating two doses of REL-1017, 25 mg once a day and 50 mg once a day, as an adjunctive treatment in patients with treatment-resistant depression. The news sent the stock soaring 134% to $26 that day.
— The Company’s stock underwent a 1-for-4 reverse stock split on September 30, 2019, and the shares were uplisted to the Nasdaq Capital Market on October 10, 2019.

Source: Read Full Article

No comments:

Post a Comment