Alcobra Ltd. (Nasdaq: ADHD) Rebounds from Poor Clinical Trial Results and Accusations

Alcobra Ltd. – Nasdaq: ADHD

Shares of Israeli-based Alcobra Ltd. are up over 20% on heavy volume. ADHD, traded on the Nasdaq, ended Tuesday trading at $1.05 and has risen to $1.33 in today’s trading. Normal average daily trading volumeis less than 600k shares but today shares have traded over four million.

Alcobra is a pharmaceutical company focused on the development and commercialization of their proprietary drug, Metadoxine Extended Release (MDX), to treat cognitive disorders including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X Syndrome (FXS).

On January 17, 2017 Alcobra released disappointing results from their Phase 3 clinical study. From Alcobra’s press release “In this trial, MDX did not meet the primary endpoint of demonstrating a statistically significant difference from placebo in the change from baseline of the investigator rating of the Conners’ Adult ADHD Rating Scales (CAARS).” Also on Janbuary 17, 2017 it was also announced by several law firms that they were initiating an investigation of the company relating to possible violations of federal securities laws. Shares ended down more than 50% for the day.

Alcobra has never achieved any sales. EPS for ADHD shares has been negative for the past five years and in 2015 ADHD shareholders experienced an EPS loss of $0.90.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

2/1/2017
Ticker Symbol ADHD
Last Price a/o 3:51 PM EST  $                      1.28
Average Volume                    565,840
Market Cap (mlns)  $                    28.93
Sales (mlns)
Shares Outstanding (mlns) 27.55
Share Float (mlns) 23.56
Shortable Yes
Optionable Yes
Inside Ownership 30.00%
Short Float 5.96%
Short Interest Ratio 2.48
Quarterly Return -45.31%
YTD Return -50.00%
Year Return -79.92%

Rigel Pharmaceuticals (Nasdaq: RIGL) Announces Positive Phase 3 Results

Rigel Pharmaceuticals, Inc. – Nasdaq: RIGL

Rigel Pharmaceuticals shares are up today on news that the firm’s FIT Phase 3 clinical study have a timely, robust, and sustained response to treatment. Shares, traded on the Nasdaq under ticker RIGL, ended Friday’s session at $1.98 and today have hit as high as $2.28 in heavy trading.

San Francisco, CA-based Rigel Pharmaceuticals, Inc. is a clinical-stage biotechnology company dedicated to the discovery and development of novel, targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. Rigel’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

Five firms follow Rigel Pharmaceuticals including Jeffries and Piper Jaffray. All five analysts rate RIGL shares as a “Strong Buy” with a consensus price target of $6. In 2015, reported sales more than tripled the 2014 figure as Rigel posted sales of $28.9 million. RIGL EPS has been negative for the past five years but narrowing. In 2015 EPS for RIGL was posted as a loss of $0.58.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/30/2017
Ticker Symbol RIGL
Last Price a/o 1:28 PM EST  $                      2.16
Average Volume 714,300
Market Cap (mlns)  $                  195.90
Sales (mlns) $25.90
Shares Outstanding (mlns) 98.94
Share Float (mlns) 98.8
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float 3.68%
Short Interest Ratio 5.1
Quarterly Return -23.26%
YTD Return -16.81%
Year Return -23.26%

Novan, Inc. (Nasdaq: NOVN) Shares Down 75%+

Novan, Inc. – Nasdaq: NOVN

Shares of Novan, Inc. were halted in trading for a short time this morning as the Nasdaq allowed traders to digest news that one pf the company’s Phase 3 trials showed “discordant” results. In one trial, all three primary end-points were reached but in the other, only one was achieved. Novan, Inc. shares trade on the Nasdaq under ticker NOVN and were off over 75% at the time of this writing.

Nathan Stasko, PhD, President and CEO of Novan stated “While we are pleased with the results of the NI-AC302 trial that met the regulatory requirement for statistically significant efficacy of SB204, we are disappointed with the discordant results of NI-AC301. Our team has not yet received the full data set and we intend to provide an update on the SB204 program after our complete analysis.”

On January 17, 2017, Novan announced it has entered into an exclusive license agreement with Sato Pharmaceutical Co., Ltd., a Japanese company with a prescription pharmaceutical business specializing in dermatology. Sato will pay to Novan an initial payment of 1.25 billion JPY (approximately $11.0 million) for the exclusive rights to develop and commercialize in Japan Novan’s topical nitric oxide-releasing product candidate SB204.

Novan, Inc. is followed by two firms. Both rate NOVN as a “Strong Buy” with a price target of $34. In 2015 NOVN shareholders experienced a loss of $1.72 with no reported sales.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/27/2017
Ticker Symbol NOVN
Last Price a/o 10:25 AM EST  $                      4.75
Average Volume 107,000
Market Cap $306.31 million
Sales $-
Shares Outstanding 16.38 million
Share Float 11.94 million
Shortable Yes
Optionable No
Inside Ownership 15.20%
Short Float 3.06%
Short Interest Ratio 3.42
Quarterly Return -10.53%
YTD Return -30.79%
Year Return

Inotek Pharmaceuticals Corporation (Nasdaq: ITEK) Reports Failed Phase 3 Results

Inotek Pharmaceuticals Corporation – Nasdaq: ITEK

Shares of Inotek Pharmaceuticals Corporation plunged over 65% in heavy trading this morning after the company announced disappointing results from their Phase 3 trial. Inotek Pharmaceuticals Corporation trades on the Nasdaq under the ticker symbol ITEK.

Lexington, MA-based Inotek Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapies for glaucoma and other eye diseases.

From the press release:

“The trial did not achieve its primary endpoint of superiority in reduction of intraocular pressure compared with placebo at all 12 time points. This was, in part, due to a placebo response that was 2-3 mmHg greater than that observed in Phase 2.”

David P. Southwell, President and Chief Executive Officer of Inotek stated, “We are disappointed that the primary endpoint of superiority at all 12 time points was not achieved. This result was driven primarily by the unexpectedly stronger placebo response at the 8AM time point.”

Five firms followed Inotek Pharmaceutical Corporation. All five gave shares of ITEK a rating of “Strong Buy” with a consensus price target of $22. ITEK has never reported any revenues and since 2012 ITEK has reported increasing negative EPS: 2012: -$0.52; 2015: -$3.72.

Inotek Pharmaceuticals Corporation ( ITEK ) will host a conference at 8:30 AM ET on January 3, 2017, to discuss the results from the MATrX-1 Phase 3 trial.

To access the live webcast, log on at www.inotekpharma.com

To listen to the call, dial (844) 358-9183 (US) or (478) 219-0400 (International)

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/3/17
Ticker Symbol ITEK
Last Price a/o 7:48 AM EST $2.10
Average Volume 313,210
Market Cap $175 million
Sales
Shares Outstanding 28.69 million
Share Float 26.59 million
Shortable Yes
Optionable Yes
Inside Ownership 5.17%
Short Float 9.00%
Short Interest Ratio 7.65
Quarterly Return -25.65%
YTD Return -46.16%
Year Return -46.16%

Achaogen Inc. (Nasdaq: AKAO) Spikes on Favorable Phase 3 News

Market Mover Alert! Acaogen Inc. – Nasdaq ticker: AKAO

Shares of AKAO are up over 70% on large volumes. Achaogen Inc. is a clinical stage biotech firm that develops anti-bacterials to treat drug-resistant infections. Achaogen Inc. trades under the Nasdaq ticker AKAO and is located in San Francisco, CA. On Friday it closed at $5.25 but Monday’s open saw AKAO reaching $8.70 on news that Achaogen’s lead drug, Plazomicin, met its Phase 3 objectives.

Plzomicin showed a lower rate of mortality or infection-related complications, when compared to colistin therapy. Those results moved Achaogen Inc. to announce that it will be submitting a New Drug Application to the FDA in 2017 and a marketing authorization application in 2018.

From Achaogen’s press release:

Achaogen Inc, sales have grown from $22.5 million in 2011 to $26.1 million in 2015. Three firms cover shares oa AKAO with either a “Buy” or “Neutral” rating assigned. The three analysts have assigned a target price of either $7, $10, or $15.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol AKAO
Last Price a/o 9:00 EST  $               9.00
Average Volume 315,430
Market Cap $138 million
Sales $35.7 million
Shares Outstanding 26.3 million
Share Float 26.3 million
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float 3.28%
Short Interest Ratio 2.73
Quarterly Return 16.93%
YTD Return -8.54%
Year Return -11.17%