The following are some of today’s top gainers in the pharma/biotech sector.
1. Adamis Pharmaceuticals Corp. (ADMP)
Gained 50% to close Monday’s (July 2) trading at $4.80.
News: The Company has entered into an exclusive distribution and commercialization agreement with Sandoz Inc., a division of the Novartis Group, to commercialize Symjepi.
Symjepi is Adamis’ product for the emergency treatment of allergic reactions (Type I) including anaphylaxis.
The deal entitles Sandoz to obtain the United States commercial rights to Symjepi in exchange for an upfront fee and potential performance-based milestones payments. Additionally, the net profit generated from sales of Symjepi in the U.S. will be shared equally by the two companies.
2. BioLife Solutions Inc. (BLFS)
Gained 31.38% to close Monday’s trading at $14.99. The stock touched a new 52-week high of $15.49 in intraday trading.
News: The Company reported preliminary revenue for the three months ended June 30, 2018 and increased its revenue guidance for 2018.
Second quarter 2018 preliminary revenue is $5.2 million, which represents a 103% increase from the second quarter of 2017 and a 36% increase from the first quarter of 2018.
For full year 2018, the Company has now boosted its revenue outlook to a range of $18.5 million to $20 million from its earlier guidance range of $14.5 million to $15.5 million. Revenue in 2017 was $11.02 million.
3. Nightstar Therapeutics plc (NITE)
Gained 14.44% to close Monday’s trading at $18.31.
News: No news
Nightstar is a clinical-stage gene therapy company developing treatments for rare inherited retinal diseases.
Clinical Trials & Near-term Catalysts:
— NSR-RPGR for the treatment of patients with X-linked retinitis pigmentosa, is under phase I/II clinical trial, dubbed XIRIUS. The initial data on safety and tolerability from the dose escalation cohorts of the trial is expected to be presented this quarter (Q3 2018), ahead of schedule.
— The expansion study in the XIRIUS trial will begin in Q4, 2018. The study is intended to enroll approximately 30 patients at a therapeutic dose informed by the dose escalation study. Preliminary Data from expansion study in the XIRIUS trial is expected in mid-2019.
— One-year follow-up data from dose escalation study is anticipated in 2H, 2019.
— A phase III trial of NSR-REP1 for the treatment of choroideremia, dubbed STAR, is ongoing, with enrollment expected to be completed in the first half of 2019.
One-year follow-up data from the STAR trial is expected in 2020.
4. Innovate Biopharmaceuticals Inc. (INNT)
Gained 13.15% to close Monday’s trading at $26.67.
News: No news
The lead drug candidate is Larazotide acetate (INN-202), which has successfully completed its phase 2b efficacy clinical trial for celiac disease. Also in the pipeline are INN-108, indicated for mild to moderate ulcerative colitis, which is entering Phase II trials this year, and INN-329, entering phase III trial for Magnetic Resonance Cholangiopancreatography (MRCP).
As part of the 2018 Russell indexes reconstitution, the Company was added as a member of the broad-market Russell 3000, 2000 and Microcap Indexes, effective June 25, 2018.
— Phase III registration clinical trials of Larazotide acetate for celiac disease are expected to begin later in 2018.
5. Shineco Inc. (TYHT)
Gained 11.31% to close Monday’s trading at $1.87.
Shineco is a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and other health and well-being focused plant-based products in China.
News: The Company announced the official establishment of its Apocynum Industrial Integration Construction Project in Bayingolin Mongol Autonomous Prefecture.
The Project is operated by the Company’s joint venture company, Xinjiang Shineco Taihe Agriculture Technology Ltd., and has secured local government approval.
Upon completion of the project, the Company expects to achieve annual output goals for Apocynum fabric, Apocynum tea, building materials and Apocynum honey of 300,000 tons, 20,000 tons, 300,000 cubic meters and 100,000 kilograms respectively.
6. PolarityTE Inc. (COOL)
Gained 10.79% to close Monday’s trading at $26.08.
PolarityTE is a commercial-stage biotechnology and regenerative biomaterials company.
News: The Company announced the addition of Peter Cohen to its Board of Directors.
Cohen previously served on the Board of Directors at the NYSE, as well as the CEO and Chairman of the Board of Cowen Inc., Shearson Lehman Cowen, and Republic New York Securities.
Shares of PolarityTE have taken a hit, losing 32% of their value, following a report by short-selling firm Citron research on June 25, 2018.
7. Mesoblast Limited (MESO)
Gained 10% to close Monday’s trading at $6.05.
News: The Company has entered into a US$50 million financing from NovaQuest Capital Management, L.L.C. for the continued development and commercialization of its allogeneic product candidate remestemcel-L (MSC-100-IV) for children with steroid refractory acute Graft versus Host Disease (aGVHD).
On February 22, 2018, the Company announced that its phase III trial of MSC-100-IV in children with steroid refractory acute Graft versus Host Disease successfully met the primary endpoint.
Based on interactions with the FDA, Mesoblast believes that it will be able to file for accelerated approval of MSC-100-IV in the United States.
by RTTNews Staff Writer
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