DUBLIN (dpa-AFX) - The following are some of the healthcare stocks that posted the biggest percentage decline on Tuesday.
1. Synlogic Inc. (SYBX)
Synlogic is pioneering the development of a novel class of living medicines, known as Synthetic Biotic medicines, based on its proprietary drug development platform.
Lost Tuesday's (Aug.20) trading at $3.49.
News: The Company has pulled the plug on SYNB1020, an early stage clinical product candidate for the treatment of hyperammonemia.
The decision to discontinue the program was based on top-line data from an interim analysis of a phase 1b/2a study of SYNB1020, which revealed that the compound did not lower blood ammonia in patients with cirrhosis.
Pipeline & Near-term Catalysts:
-- A phase 1/2a clinical study of SYNB1618 in patients with phenylketonuria is underway, with data expected in the third quarter of 2019. -- An Investigational New Drug application for SYNB1891 in patients with advanced solid tumors is slated to be filed with the FDA in the second half of 2019.
2. Plus Therapeutics Inc. (PSTV)
Plus Therapeutics, formerly Cytori Therapeutics Inc., is a clinical-stage pharmaceutical company. The lead product candidate in the pipeline is DocePLUS, a complex, injectable, patented, albumin-stabilized PEGylated liposomal docetaxel.
Lost 22.22% to close Tuesday's trading at $7.00.
News: No news
A 1-for-50 reverse stock split was implemented and the stock began trading on a split-adjusted basis beginning on August 6, 2019.
A phase II clinical trial protocol for DocePLUS in Small Cell Lung Cancer patients with platinum-sensitive disease who progressed at least 60 days after initiation of first-line chemotherapy is expected to be submitted in the second half of 2019.
3. Assertio Therapeutics (ASRT)
Assertio Therapeutics, formerly known as Depomed Inc., currently markets three FDA-approved products, and its core areas of focus include neurology, orphan, and specialty medicines.
Lost 16.87% to close Tuesday's trading at $1.33.
News: No news
On August 7, 2019, the Company reported financial results for the second quarter ended June 30, 2019. The total net product sales in the recent second quarter declined to $25.94 million from $26.84 million in the year-ago quarter.
On September 10, 2019, the Company will make a presentation at the 17th Annual Morgan Stanley Global Healthcare Conference.
4. Trinity Biotech plc (TRIB)
Trinity Biotech is a developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets.
Lost 17.24% to close Tuesday's trading at $1.44.
News: The Company announced a decline in revenue for the second quarter ended June 30, 2019.
Total revenue in the second quarter of 2019 was $22.5 million compared to $25 million in the year-ago quarter. Operating profit for the recent second quarter was $1.2 million, down from $1.7 million in the second quarter of 2018.
5. Sarepta Therapeutics Inc. (SRPT)
Sarepta Therapeutics is focused on developing precision genetic medicine for rare diseases.
Lost 15.16% to close Tuesday's trading at $102.07.
News: The FDA has declined to approve Sarepta's Golodirsen injection for the treatment of Duchenne muscular dystrophy (DMD) in patients with a confirmed mutation amenable to exon 53 skipping. Patients with a 53 mutation represent 8 percent of those with Duchenne.
In its Complete Response Letter, the regulatory agency has raised concerns regarding the risk of infections related to intravenous infusion ports and renal toxicity seen in pre-clinical models of Golodirsen.
Meanwhile, a phase III trial, known as ESSENCE, evaluating Golodirsen and another investigational DMD drug Casimersen, in patients amenable to skipping exons 53 or 45, respectively, is underway.
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