The following are some of today's top gainers in the pharma/biotech sector.
1. Biocept Inc. (BIOC)
Biocept is a commercial provider of liquid biopsy tests designed to provide physicians with clinically actionable information to improve the outcomes of cancer patients.
Gained 29.49% to close Thursday's (Jan.17) trading at $3.03. This is the second straight day of double-digit gain for the stock.
News: No news
Near-term Catalyst:
The Company is slated to report Q4, 2018, financial results in the last week of March.
The net loss for the third quarter of 2018 was $6.0 million or $2.42 per share on revenue of $762,000.
2. Correvio Pharma Corp. (CORV)
Correvio Pharma is a revenue-generating, specialty pharmaceutical company.
Gained 25.88% to close Thursday's trading at $2.87.
News: The Company announced that it has completed the sales of all common shares qualified under its ATM Prospectus Supplement. The at-the-market sales issuance agreement, dated July 10, 2018, between the Company and B.Riley FBR, Inc., as agent, continues in force.
However, the Company currently does not intend to file a new prospectus supplement to qualify the sale of additional common shares pursuant to the sales agreement.
Near-term Catalysts:
-- The Company is slated to report financial results for its fourth quarter and year ended December 31, 2018, in March.
-- Correvio plans to resubmit its New Drug Application for Brinavess, an antiarrhythmic drug for the rapid conversion of recent onset atrial fibrillation, during the second quarter of 2019.
Brinavess is approved for marketing in Europe, Canada, and several other countries worldwide. The Company has been trying to get approval for BRINAVESS, formerly known as Kynapid, in the U.S. since 2006.
3. Leap Therapeutics, Inc. (LPTX)
Gained 21.34% to close Thursday's trading at $3.07.
News: No news
Upcoming event:
An investigator-initiated study of DKN-01 in patients with DKK1+ advanced prostate cancer is expected to begin enrolling patients in the first quarter of 2019.
4. Lipocine Inc. (LPCN)
Gained 17.87% to close Thursday's trading at $1.88.
News: The Company announced encouraging eight-week top-line interim results from an ongoing sixteen-week Liver Fat Imaging study with investigational NASH drug LPCN 1144.
Non-alcoholic steatohepatitis, or NASH, refers to liver inflammation due to fat buildup in the liver.
The ongoing Liver Fat Study is an open-label, multi-center, single arm study evaluating LPCN 1144 treatment in a cohort of 36 hypogonadal men at risk of developing non-alcoholic steatohepatitis.
Treatment with LPCN 1144 showed an absolute mean reduction from baseline of 7.6% liver fat and demonstrated a 38% relative mean liver fat reduction from baseline. Moreover, there was an 86% responder rate in which subjects experienced at least a 4.1% absolute reduction in liver fat from baseline and a 71% responder rate in which subjects experienced at least a 29% reduction in liver fat from baseline, according to the Company.
Near-term Catalyst:
The Company expects to report the sixteen-week results from the Liver Fat Imaging study with LPCN 1144 later this quarter.
5. Agenus Inc. (AGEN)
Agenus is a clinical-stage immuno-oncology company.
Gained 16.93% to close Thursday's trading at $3.73.
News: No news
Recent event:
On January 3, 2019, the Company was awarded a grant of about $1 million by the Bill & Melinda Gates Foundation to develop an alternative, plant cell culture-based manufacturing process to ensure the continuous future supply of Agenus' proprietary QS-21 Stimulon adjuvant, a key component of multiple vaccines targeting infectious and endemic diseases.
On December 20, 2018, Gilead Sciences Inc. (GILD) and Agenus entered into a partnership to develop and commercialize up to five novel immuno-oncology therapies.
6. Rafael Holdings Inc. (RFL)
Rafael Holdings holds commercial real estate assets and interests in two clinical-stage pharmaceutical companies namely, Rafael Pharmaceuticals Inc. and Lipomedix Pharmaceuticals Ltd.
Gained 12.95% to close Thursday's trading at $14.35. The stock touched an all-time high of $15.29 in intraday trading.
News: The Company announced that the study plan for a phase III trial of Devimistat in combination with modified FOLFIRINOX as a first-line treatment for patients with metastatic pancreatic cancer will be presented at the Annual Gastrointestinal Cancers Symposium on January 18.
A phase III study of Devimistat, in combination with high dose cytarabine and mitoxantrone, in older patients with relapsed or refractory acute myeloid leukemia, dubbed ARMADA 2000, is already underway.
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