Monica Gray

Monica has an undergraduate degree in Accounting and an MBA she earned - with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.
Tenax Therapeutics Inc. (NASDAQ:TENX)

Is Tenax Therapeutics Inc. (NASDAQ:TENX) Sell-Off Over?

Tenax Therapeutics Inc. (NASDAQ:TENX)

Shares of Tenax Therapeutics Inc. (NASDAQ:TENX) gained 34.16% in Friday’s trading session, to end the week at $0.5098 a share.  The specialty pharmaceutical company has come under pressure this year as investors continue to question its long-term growth prospects.

TENX Stock Performance

TENX is down by more than 70% for the year as the pharmaceutical company failed to issue updates detailing developments on ongoing clinical programs.

Tenax Therapeutics Inc. (NASDAQ:TENX)

In July, Tenax Therapeutics Inc. (NASDAQ:TENX) held discussions with the U.S. Food and Drug Administration (FDA) regarding the regulatory pathway for Levosimendan. The company is investigating the candidate drug as a treatment option for patients undergoing coronary artery bypass grafting (CABG), to reduce the risk of low cardiac output syndrome. Levosimendan is also in trials for the treatment of patients with acute decompensated heart failure.

Positive Levosimendan Clinical Trials

The FDA meeting concentrated on additional analysis of Levosimendan surrounding 66% of the patients in the LEVO-CTS trial who underwent CABG alone. Initial clinical trial results indicate that patients who participated in the trial benefited from a highly significant 73% relative risk reduction in all-cause mortality.

“We are encouraged to find the data generated from the LEVO-CTS supports our continued belief that Levosimendan is an effective and safe inotrope to increase cardiac output in CABG only patients at risk for developing perioperative low cardiac output syndrome,” said CEO Michael Jebsen.

Tenax Therapeutics Inc. (NASDAQ:TENX) is currently awaiting a decision from the FDA on whether Levosimendan’s New Drug Application for the treatment of coronary bypass surgery can be filed. The agency has requested for additional information from published cross-study analyses to aid in its final decision.

Tenax Therapeutics is reviewing a number of strategic alternatives with the assistance of Ladenburg Thalmann & Co. Some of the strategies under review include a merger or a strategic investment into the company. The company is also reportedly open to license agreements as well as the acquisition of assets.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TENX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Aptevo Therapeutics Inc. (NASDAQ:APVO) Expands ADAPTIR Platform

Aptevo Therapeutics Inc. (NASDAQ:APVO)

Aptevo Therapeutics Inc. (NASDAQ:APVO) traded higher after announcing the expansion of its protein therapeutic platform ADAPTIR, into new mechanisms of action including T-Cell engagers targeting CD3. In a presentation, at the World Bispecific summit, the company highlighted new improvements that it says have led to new ADAPTIR candidates.

ADAPTIR Platform Expansion

According to Aptevo Therapeutics Inc. (NASDAQ:APVO)’s Principal Scientist, Dr. Peter Pavlik, expansion of the ADAPTIR platform highlights its flexibility and versatility in generating multiple Bispecific candidates. The attributes have allowed the company to come up with T-cell engager APVO436 which targets CD123 known to cause hematological malignancies.

“Our next generation candidates, like APVO436, are designed to be delivered by intravenous dosing. With two ADAPTIR candidates currently in clinical development and a broad portfolio of Bispecific advancing in preclinical development, Aptevo has a rich pipeline of assets in the emerging field of targeted antibody therapeutics,” said Dr. Pavlik.

APVO Stock Performance

Aptevo Therapeutics Inc. (NASDAQ:APVO) bounced back after plummeting to multi-year lows of $1.15 a share continues. Earlier in the year, the stock spiked to $3.85. However, the stock is still down for the year, after retreating to end Thursday’s trading session at $2.73 a share.

Aptevo Therapeutics Inc. (NASDAQ:APVO)

Renewed investors interest follows achievements on the development of the ADAPTIR platform, which is key to the development of the company’s pipeline of drugs. The clinical stage biopharmaceutical company is currently working on APVO414 for the treatment of metastatic castration-resistant prostate cancer, as well as Otlertuzumab for the treatment of chronic lymphocytic leukemia.

Credit Facility Agreement

Separately, Aptevo Therapeutics Inc. (NASDAQ:APVO) has amended the terms of its credit agreement with Midcap Financial Trust. The amendment allows the company to keep a $20 million funding tranche. The two companies have also agreed to eliminate the option of the second tranche of $15 million.

“We are pleased to continue our relationship with MidCap Financial. They are a knowledgeable partner who understands the life sciences sector and we appreciate their continued interest in and commitment to our business,” said Jeff Lamothe, Chief Financial Officer.

Amendment of the credit facility follows the sale of three hyperimmune products by Aptevo Therapeutics Inc. (NASDAQ:APVO) to Saol Therapeutics for $74.5 million. The three products acquired include WinRho SDF for the treatment of autoimmune platelet disorder, HepaGam B for the prevention of Hepatitis B following liver transplantation and VARIZIG for treatment following varicella Zoster virus exposure.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $APVO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

MannKind Corporation (NASDAQ:MNKD)

MannKind Corporation (NASDAQ:MNKD) Spikes On Afrezza New Insulin Label

MannKind Corporation (NASDAQ:MNKD)

MannKind Corporation (NASDAQ:MNKD) shares gained 40.1% after the U.S. Food and Drug Administration approved a favorable label change for Afrezza. Human Insulin, Afrezza, is now approved for glycemic control in adult patients with type 1 and type 2 diabetes. According to the company, it is the only inhaled rapid-acting mealtime insulin available in the United States.

The biopharmaceutical company has also confirmed that it successfully exchanged new common stock for outstanding warrants issued last year. The exchange strengthened investors’ confidence as it showed the company’s commitment to cleaning up opportunities for capital flexibility.

MNKD Stock Performance

MannKind Corporation (NASDAQ:MNKD) has gained more than 100% since the start of the month. However, the stock is up by more than 30% for the year. The stock is currently trading at 14-month high and traders are waiting to see if it will continue to rise after registering a new 52 week high of $6.51 a share.

MannKind Corporation (NASDAQ:MNKD)

Afrezza’s new label has revitalized investor confidence on the stock. The biotech company has been under pressure as investors reacted negatively to anemic sales reports. However, the label change should unlock the product’s blockbuster potential.

Afrezza New Label

The new label update includes data that describes the action profile by dosage strength as well as clarity on starting and adjusting mealtime dosage. To conform with current FDA guidance, the label also includes updated pregnancy lactation section.

“These data articulate the rapid-acting nature of Afrezza to address post-prandial hyperglycemia, setting it apart from other mealtime options available to help patients maintain greater control over their blood glucose levels,” said Satish Garg, MD, MBBS, DM — Barbara Davis Center for Diabetes (BDC) – University of Colorado.

Mannkind’s Financial Woes

MannKind Corporation (NASDAQ:MNKD) needs to capitalize on the new label if it is to continue rising higher in the market. The company still faces a string of changes after exiting the recent quarter with only $44 million in cash. Observers question if that amount will be sufficient to support operations going forward.

The company may have to look for additional funds to be able to ramp up the Afrezza commercial launch. Investors may wish to consider bracing themselves for secondary offerings given the spike in MNKD stock.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MNKD and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Dynasil Corporation of America (NASDAQ:DYSL) Gears For Clinical Trials

Dynasil Corporation of America (NASDAQ:DYSL)

Dynasil Corporation of America (NASDAQ:DYSL) traded higher after announcing favorable results from an IS0-10993-1 biological evaluation of its Xcede Patch. The stock was up by 8.2% to end Wednesday’s trading session at $1.32 a share.

Dynasil Corporation of America (NASDAQ:DYSL)

Xcede Patch Development

Xcede Patch is a hemostatic and sealant product for various surgical applications with emphasis on severe traumatic bleeding. The bioresorbable mesh patch comes with a proprietary adhesive backing and a ready to use standard size mesh patch.

According to Xcede technologies CEO, Linda Zuckerman, positive preclinical results of the Xcede patch mark a significant accomplishment in moving the device to clinical development phase of product life cycle.

Investor confidence in the company’s long-term prospects appear to be strengthened. DYSL is currently trading in an uptrend after trading in a range for the better part of the year. The stock is up by more than 1% for the year waiting to see if it will continue to rise.

Dynasil Corporation of America (NASDAQ:DYSL) is currently conducting a chronic liver implantation’s study using the Xcede Patch. Preliminary results from cohort studies demonstrate a profile appropriate for the filling of regulatory approval for commencement of clinical trials.

“At this point in time, we believe we are on track for clinical trials in early 2018. However, further studies need to be completed and regulatory approval obtained before the European trials can begin,” said CEO,” Peter Sulick.

Q3 Financial Results

Separately, Dynasil Corporation of America (NASDAQ:DYSL) reported a net income of $0.2 million for the third quarter compared to a net income of $0.3 million reported last year. Earnings attributed to shareholders for the nine months ending June 30, 2017, stood at $2.6 million or $0.15 a share. The company attributes the earnings to a U.S income tax benefit from the deconsolidation of tax purposes of Xcede technologies.

Dynasil Corporation of America (NASDAQ:DYSL) is trying to pick itself from a disappointing third quarter where it lost a combination of revenue from two large OEM customers. The result of revenue disruption was a reduction of $1 million in Optics revenue and $0.6 million reductions in contract research revenue.

“One bright spot continues to be the RMD commercial revenue which should end the year at approximately three times the prior year level of $600,000. RMD’s CLYC dual mode scintillator is getting considerable market traction, particularly within the personalized radiation detector (PRD) market,” said Mr. Sulick.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $DYSL and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Cesca Therapeutics Inc. (NASDAQ:KOOL) Receives Notice from USPTO

Cesca Therapeutics Inc. (NASDAQ:KOOL)

Shares of Cesca Therapeutics Inc. (NASDAQ:KOOL) gained 33.6% after the U.S Patent and Trademark Office (USPTO) issued a Notice of Allowance for the company’s pending patent application. The patent application covers the company’s proprietary method for separating rare, therapeutically critical target cells from the blood, bone marrow, and other cell sources.

Casca’s Investor Reaction

The company seeks to patent, Buoyancy-Activated Cell Separation (X-BACS). This technology is key to the development of the CAR-TXpress platform. If issued, it will be Cesca second patent in relation to the technology.

The X-BACS technology uses microscopic bubbles to isolate specific cell type from a complex mixture of cells. Cesca Therapeutics Inc. (NASDAQ:KOOL) plans to work with innovative biopharmaceutical companies to enhance the commercial viability of the technology.

Investors reacted to the Notice of Allowance by sending the stock to $6.44. However, by the end of the trading session, it closed at $4.81 per share. The new 52-week high supports the stock bullish run that has been in play since March. KOOL is up by more than 2% for the year.

Cesca Therapeutics Inc. (NASDAQ:KOOL)

“CAR-T represents the future of cancer treatment, yet we believe speed, cost and consistency will likely emerge as significant industry challenges. With the X-BACS technology embedded in CAR-TXpress, manufacturers will be able to improve the yield and consistency of CAR-T cells in less time and at a lower cost,” said CEO Chris Xu.

Cesca’s FY2017 Financials

Separately, the leader of automated cell processing and point-of-care has announced financial results for the fiscal year ending June 30, 2017. Net revenue for the full year totaled $14.5 million compared to $11.9 million reported the prior year. The company attributes the increase to an increase in shipments of AXP disposables, to distributors in China and Europe.

Gross profit for the full year more than doubled to $5.8 million from $2.7 million, due to higher average sales on product mix and reduction of overhead costs. However, Cesca Therapeutics Inc. (NASDAQ:KOOL) posted a wider than expected net loss of ($29.1) million or (-$3.27) a share compared to a net loss of ($18.7) million reported last year.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $KOOL and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV)

Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) NDA Application

Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV)

Shares of Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) fell 10.7% after the innovative biopharmaceutical announced that the U.S. Food and Drug Administration (FDA) had accepted its New Drug Application (NDA) for KIT-302, for a full review.  According to Chief Medical Officer, Paul Waymack, acceptance of the filling marked a key achievement towards commercialization of the company’s lead candidate drug which is a combination of celecoxib and amlodipine.

Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV)

Kit-302 Development

Kitov Pharmaceuticals is developing KIT-302 for the treatment of osteoarthritis pain and hypertension. The FDA has set a target date of May 31, 2018, for a complete review of the drug candidate.

Data from Phase 3 clinical trial demonstrated that KIT302 met its primary endpoints with a statistical significance of p=0.001.

“We appreciate the hard work of our internal regulatory team in the preparation of NDA package, the participation of various clinics and hospitals in the United Kingdom in the trial, and the European Contract Research Organizations that collected, stored, and performed statistical analysis of the data,” said Dr. Waymack.

Investors pushing the stock lower on the milestone achievement came as a surprise as the stock had been trading in an uptrend after bouncing from this year’s lows of $1.27 a share. Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) has underperformed the overall industry after losing more than 30% in market value since the start of the year.

Disappointing Earnings Results

A wider than expected net loss of (-$6) million for the first six months of the year compared to a net loss of (-$3) million reported last year continues to affect investors’ confidence on the stock. The company’s cash and cash equivalent as of the end of June 30, 2017, stood at $8.1 million compared to $14.7 million as of December 31, 2016.

In July Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) ventured into the debt market to raise additional capital. The innovative biopharmaceutical company raised $3.1 million through a direct registered offering.

In a bid to strengthen investor confidence after a poor performance for the first six months of the year, Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) continues to tout progress made on the development of its pipeline of drugs. The company says it expanded its pipeline with the acquisition of NT-219 for the treatment of a variety cancers.

“Our plan is to continue growing Kitov as an innovative, emerging pharmaceutical company. Our mission is to leverage the significant potential of our product development pipeline to create long-term shareholder value,” said CEO Isaac Israel.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $KTOV and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Endocyte, Inc. (NASDAQ:ECYT)

Endocyte, Inc. (NASDAQ:ECYT) Signs Licensing Agreement

Endocyte, Inc. (NASDAQ:ECYT)

The stock price of Endocyte, Inc. (NASDAQ:ECYT) more than doubled in value after the biopharmaceutical company announced the completion of a licensing agreement with ABX for a Phase 3 ready prostate cancer drug. The stock was up by 157.5% in Monday’s trading session, to end the day at $3.63 a share.

The rally helped reverse a strong selling pressure that had pushed the stock to multi-year lows. ECYT has since recorded a new 52-week high of $3.75, waiting to see if it will continue to rise. The stock is also up by more than 20% for the year after gapping higher in Monday’s trading session.

Endocyte, Inc. (NASDAQ:ECYT)

Endocyte-ABX Licensing Agreement

Under the terms of the licensing agreement, Endocyte, Inc. (NASDAQ:ECYT) owns exclusive worldwide rights for the development and commercialization of the prostate cancer candidate drug 177PSMA-617. The biopharmaceutical company is also to make an upfront payment of $12 million to ABX.

Endocyte, Inc. (NASDAQ:ECYT) has also agreed to grant ABX 2 million shares of its common stock and warrants for the purchase of up to 4 million additional shares. ABX is also entitled to regulatory and commercial milestones payments totaling up to $160 million.

Lu-PSMA-617 Prospects

Lu-PSMA-617 is a radioligand designed to target the prostate-specific membrane antigen present in 80% of patients with metastatic castration-resistant prostate cancer. According to the Chief Executive Officer, Mike Sherman, the candidate drug has the potential to be the first in class RLT, for addressing both bone and soft tissue disease.

The drug has already shown a remarkable 57% PSA response rate. The studies show the drug to be well tolerated with low rates of adverse effects and no renal toxicity.

“We intend to seek regulatory approval to initiate a Phase 3 registration trial of 177Lu-PSMA-617 in early 2018. By focusing the company’s resources on the execution of this program, we project trial completion as early as 2020,” said Mr. Sherman.

First developed at the DFKZ (German Cancer Research Center), PSMA-617 has so far been evaluated in hundreds of patients through both compassionate and prospective trials. Preliminary clinical trial results indicate that the drug has the potential to be a promising target in prostate cancer especially in areas where the disease has become resistant to current therapies.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ECYT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Galena Biopharma Inc. (NASDAQ:GALE)

Galena Biopharma Inc. (NASDAQ:GALE) Drug Development Continues

Galena Biopharma Inc. (NASDAQ:GALE)

Galena Biopharma Inc. (NASDAQ:GALE) shares fell 4.7% after the biopharmaceutical company announced the completion of patient enrollment in two NeuVax clinical trials. The company is investigating the drug in combination with Trastuzumab as a prevention for breast cancer recurrence in patients with no other treatment options.

According to the Chief Medical Officer, Bijan Nejadnik, completion of patient enrollment marks a major milestone on Neuvax development. Shareholders reacted negatively to the sentiments pushing the stock near all-time lows.

Galena Biopharma Inc. (NASDAQ:GALE) is trading in a strong downtrend after losing more than 70% in market value since the start of the year. The stock is currently trading at the lower end of its $0.35 – $ 0.38 trading range and close to its 52-week low of $0.26 a share.

Galena Biopharma Inc. (NASDAQ:GALE)

Neuvax is the company’s lead candidate drug expected to affect the stock’s direction of trade. A Phase 2b clinical trial of the drug has already enrolled 300 patients. Preliminary clinical trial results presented last year indicate that NeuVax in combination with trastuzumab remains well tolerated with no safety concerns.

“The combination of trastuzumab and NeuVax has been shown to be synergistic in preclinical investigation, and we believe could be an effective treatment to prevent breast cancer recurrence in patients with no other treatment options,” said Mr. Nejadnik.

GALE-401 Development Partnership

Separately, Galena Biopharma Inc. (NASDAQ:GALE) has reaffirmed its partnership with BioVascular Inc. for the development of GALE-401. The two companies have amended a previously signed license agreement to facilitate the development of the asset either through internal clinical development or by seeking a licensing partner.

GALE-401 is a controlled version of the approved drug anagrelide, for the treatment of elevated platelets in patients struggling with myeloproliferative neoplasms (MPNs). Given that it is a release formulation, GALE-401 is being developed with a view of reducing some of the side effects associated with anagrelide.

Galena Biopharma Inc. (NASDAQ:GALE) has already completed a majority of the work needed for the commencement of Phase 3 trials.

“GALE-401 is a Phase 3-ready asset, and this joint collaboration between Galena, SELLAS, and BioVascular endorses our mutual belief in the value of the program for patients with ET or other MPN disorders,” said Stephen F. Ghiglieri, Interim Chief Executive Officer.

According to BioVascular CEO, John H Parish, the combined company should be able to come up with a viable path for advancing the development of GALE-401.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $GALE and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR)

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) Slumps 29%

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR)

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) fell 29.3% after announcing the pricing of an underwritten public offering consisting of Class A units made up of 34.6 million shares of common stock and warrants for the purchase of an additional 34.6 million shares of common stock. Ritter expects gross proceeds of close to $23 million.

Public Offering

The developer of novel therapeutic products is also offering Class B units made up of 9,180 shares of series A preferred stock priced at $1,000 a unit. Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) has granted underwriters a 45-day option for the purchase of additional shares of common stock or warrants for the purchase of common stock. The offering should close on or about October 3, 2017.

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) stock dropped to multi-year lows of $0.35 a share after the offering was priced. The stock is currently trading in a strong downtrend and close to its 52-week low of $0.34 a share.

Ritter Pharmaceuticals Inc. (NASDAQ:RTTR)

RP-G28 Phase 3 Study

Separately, Ritter Pharmaceuticals Inc. (NASDAQ:RTTR) will commence Phase 3 study of RP-G28 for the treatment of lactose intolerance following End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA). The company has already taken direction from the agency on the key elements of the proposed study after receiving clear guidance and expectations on necessary components.

“We are pleased with the productive discussion and open dialog we had with the FDA regarding our Phase 3 plans. We are confident we can execute a successful Phase 3 program furthering our goal to ultimately file a successful NDA and commercialize RP-G28 as the first FDA-approved treatment for lactose intolerance,” said Andrew J. Ritter, co-founder, and president of Ritter Pharmaceuticals, Inc.

Primary/Secondary Endpoints

The proposed Phase 3 clinical program should commence in the first half of 2018 and will consist of two confirmatory clinical trials with similar trial design and size. It will consist of multicenter randomized double-blind placebo-controlled parallel group trials, designed to determine efficacy, safety, and durability of RP-G28.

The primary endpoint will be to determine and evaluate patient’s composure L1 symptoms that include abdominal pain cramping after lactose challenge. Secondary endpoints will evaluate L1 signs and symptoms in addition to evaluating patients continued meaningful treatment benefit.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $RTTR and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Catabasis Pharmaceuticals Inc. (NASDAQ:CATB) Gains on DMD Presentations

Catabasis Pharmaceuticals Inc. (NASDAQ:CATB)

Catabasis Pharmaceuticals Inc. (NASDAQ:CATB) resurgence from all-time lows continued in Thursday’s trading session as its shares gained 21.9% to end the day at $2.23 a share. The rally followed the announcement that the clinical stage biopharmaceutical company will present results from a joint research collaboration with Sarepta Therapeutics Inc. (NASDAQ:SRPT).

Catabasis DMD Presentation

The presentation touches on a research collaboration for Duchene Muscular Dystrophy (DMD). The two companies are currently investigating CAT-1004, a known NF-Kb inhibitor, known to enhance myotube formation in-vitro.

In addition, Catabasis Pharmaceuticals Inc. (NASDAQ:CATB) will present results from an open-label extension of the MoveDMD trail, following five weeks of edasalonexent treatment in boys with DMD.

Shares of Catabasis closing above the $2 could be the catalyst needed to push the stock to the $2.50 mark, another key resistance level. CATB has underperformed the overall industry after losing more than 40% in market value since the start of the year. The clinical stage biopharmaceutical company is still trading in a downtrend even with the recent resurgence.

Catabasis Pharmaceuticals Inc. (NASDAQ:CATB)

Catabasis Q2 Earnings

Catabasis Pharmaceuticals Inc. (NASDAQ:CATB) bounce follows a second-quarter earnings report that showed substantial progress in trimming its net loss. For the three months ended June 30, 2017, the company reported a net loss of (-$7) million or (-$0.32) cents a share, down from a net loss of (-$9.4) million reported in Q2 2016.

Research and development expenses dropped to $4.5 million from $6.8 million a year ago, attributed to the completion of certain clinical activities. Headcount reductions led to a decline in General and Administrative expenses that totaled $2.4 million compared to $2.6 million as of Q2 2016. Catabasis Pharmaceuticals exited the quarter with cash and cash equivalent of $29.4 million compared to $31.8 million as of March 31, 2017.

“In the second quarter, we presented an important prespecified crossover analysis of data from boys with Duchenne in our Phase 2 edasalonexent trial. We are very excited to see improvements in the rate of decline of muscle function across multiple assessments in boys treated with edasalonexent for 12 weeks,” said CEO Jill C. Milne.

Catabasis Pharmaceuticals Inc. (NASDAQ:CATB) is also working on CAT-5571 a potential oral treatment for cystic fibrosis.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CATB and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.