The following are some of the stocks that lost the largest percentage in price today in the pharma/biotech sector.
1. AbbVie Inc. (ABBV)
Lost 12.76% to close Thursday’s (Mar.22) trading at $98.10.
News: The Company is not going to seek accelerated FDA approval for Rova-T in third-line relapsed/refractory (R/R) small cell lung cancer as the results from its single-arm phase II study, dubbed TRINITY, fell short of expectations.
TRINITY is a multicenter, open-label, single-arm, Phase 2 study of Rova-T in DLL3-expressing small cell lung cancer (SCLC) patients with relapsed/refractory (R/R) disease after receiving at least two previous regimens, including at least one platinum-based regimen.
The objective response rate in the TRINITY study was 16% and median overall survival was 5.6 months.
Although the results from the study were not what AbbVie had hoped for, it is optimistic about Rova-T. The ongoing Phase 3 studies, MERU and TAHOE, will continue to investigate Rova-T in first- and second-line SCLC, noted the Company.
Rova-T came under AbbVie’s fold, following the acquisition of Stemcentrx Inc. for $5.8 billion in 2016.
2. Odonate Therapeutics Inc. (ODT)
Lost 8.91% to close Thursday’s trading at $21.16.
News: No news
— The Company went public on the NASDAQ Global Select Market on December 7, 2017, offering its shares at a price of $24.00 each.
— On January 2, 2018, Jefferies initiated coverage on Odonate with a Buy rating and a price target of $40.
— The Company announced financial results for the three and twelve months ended December 31, 2017, on Feb.14, 2018. As of December 31, 2017, Odonate had $198.1 million in cash.
— According to a SEC filing made on MAR.2, 2018, Tang Kevin, the Chairman and CEO of the Company, acquired 14,050 shares at an average price of $27.46 each.
— A phase III study of Tesetaxel in patients with locally advanced or metastatic breast cancer, dubbed CONTESSA, was initiated on December 28, 2017.
3. AquaBounty Technologies Inc. (AQB)
Lost 8.60% to close Thursday’s trading at $3.40.
News: No news
— On March 8, 2018, the Company reported financial results for the year ended December 31, 2017.
2017 was a very successful year – with the Company making the first sales of AquAdvantage Salmon, selling five tons of fillets in Canada. Net loss for the year ended December 31, 2017, was $9.26 million or $1.06 per share compared to a net loss of $8.47 million or $1.60 per share in 2016. Product revenue in 2017 was $53 thousand compared to nil revenue the year before.
4. CHF Solutions Inc. (CHFS)
Lost 8.58% to close Thursday’s trading at $3.09.
The Company commercializes Aquadex FlexFlow system, indicated for ultrafiltration to reduce fluid overload in patients when diuretics fail. The device is FDA 510(k) market cleared and CE marked.
News: No news
— On Mar.20, 2018, the Company announced financial results for the fourth quarter and year ended December 31, 2017.
Net loss in the recent fourth quarter was $7.14 million or $10 per share compared to a net loss of $2.90 million or $133.36 per share in the year-ago quarter. Net sales for the fourth quarter of 2017 rose to $831 thousand from $746 thousand in the year-ago quarter. Net sales in Q3, 2017 were $957 thousand.
The Company ended the year 2017 with cash of $15.59 million.
5. NuCana plc (NCNA)
Lost 8.26% to close Thursday’s trading at $17.43.
NuCana is a clinical-stage biopharmaceutical company focused on significantly improving treatment outcomes for cancer patients. The Company went public on the Nasdaq Global Select Market on October 2, 2017, offering its American Depositary Shares at a price of $15 each.
News: The Company announced financial results for the year ended December 31, 2017 and provided an update on its extensive clinical program.
NuCana’s annual loss in 2017 widened to £23.1 million or £0.89 per share from £6.0 million or £0.25 per share in 2016.
Clinical Trials & Near-term Catalysts:
The Company’s product candidates are Acelarin and NUC-3373.
Acelarin is currently being evaluated in the indications of ovarian cancer, biliary cancer and pancreatic cancer.
— On November 15, 2017, the Company announced the enrollment of the first patients in both the United States and the United Kingdom in its phase II study evaluating single-agent Acelarin in patients with platinum-resistant ovarian cancer.
— A phase III trial comparing Acelarin with gemcitabine for people with pancreatic cancer, dubbed ACELARATE, a phase I study of Acelarin with cisplatin for bile duct cancer, and a phase Ib study of Acelarin and Carboplatin for patients with recurrent ovarian cancer are also underway.
— NUC-3373 is currently in a Phase 1 study for the potential treatment of a wide range of advanced solid tumor cancers.
by RTT Staff Writer
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