TLRY On Fire, CRON Up 94% This Month, ALNY Abuzz, RCUS Turns Heads
The following are some of today’s top gainers in the pharma/biotech sector.
1. Tilray Inc. (TLRY)
Tilray is a company involved in cannabis research, cultivation, processing and distribution.
Gained 21.84% to close Monday’s (Aug.27) trading at $53.44. The stock touched a new high of $58.68 in intraday trading.
News: Tilray Canada Ltd., a wholly owned subsidiary of Tilray, has been selected by Nova Scotia Liquor Corp. to supply a variety of adult-use Cannabis brands and products, in anticipation of the launch of the adult-use market on October 17, 2018.
Last week, the Company signed an agreement with the Ontario Cannabis Retail Corp. to supply the province of Ontario with a variety of adult-use cannabis brands and products.
Tilray made its debut on the Nasdaq Global Select Market on July 19, 2018.
2. Cronos Group Inc. (CRON)
Gained 21.13% to close Monday’s trading at $12.04. The stock touched a new high of $12.89 in intraday trading.
News: No news
On August 21, the Company announced its initial supply agreements for retail distribution, both government-operated and private, across Canada for the upcoming launch of the cannabis recreational market in October 2018.
Cronos Group has secured listings and signed binding master supply agreements with both the Ontario Cannabis Retail Corporation and the BC Liquor Distribution Branch. The Company has also secured listings and has accepted supplier terms with the Nova Scotia Liquor Corporation and Prince Edward Island Liquor Corporation.
3. Alnylam Pharmaceuticals Inc. (ALNY)
Gained 16.23% to close Monday’s trading at $112.59.
News: Alnylam, operating in the hereditary transthyretin amyloidosis treatment market, gained in response to Pfizer Inc.’s (PFE) results from a phase III study of Tafamidis in transthyretin amyloid cardiomyopathy.
In Pfizer’s study, dubbed ATTR-ACT, there was a 30% reduction in the risk of mortality and 32% reduction in the rate of cardiovascular-related hospitalizations with Tafamidis in people with Transthyretin Amyloid Cardiomyopathy compared to placebo.
Alnylam’s Onpattro is the only drug approved by the FDA for the treatment of the polyneuropathy of hereditary transthyretin-mediated (hATTR) amyloidosis in adults.
Pfizer’s Tafamidis was approved in the European Union in November 2011 for the treatment of Transthyretin Familial Amyloid Polyneuropathy (TTR-FAP) in adult patients with stage 1 symptomatic polyneuropathy. It is not approved in the U.S. yet.
4. CEL-SCI Corp. (CVM)
Gained 15.48% to close Monday’s trading at $1.79.
News: No news
The top line results from a phase III trial of its investigational immunotherapy Multikine in the treatment of head and neck cancer may be available as soon as early 2019.
5. HTG Molecular Diagnostics Inc. (HTGM)
Gained 13.57% to close Monday’s trading at $3.85.
News: No news
On August 7, the Company reported financial results for the second quarter ended June 30, 2018.
Net loss for the second quarter of 2018 narrowed to $4.1 million or $0.14 per share from $5.5 million or $0.60 per share in the same period in the prior year. Total revenue for the recent second quarter soared to $4.9 million from $1.76 million in the year-earlier quarter.
For full year 2018, the Company expects revenue to be in the range of $21.0 to $25.0 million. Revenue in 2017 was $14.8 million.
6. Arcus Biosciences Inc. (RCUS)
Gained 10.91% to close Monday’s trading at $14.95.
News: No news
Between August 22 and August 24, the Company’s CEO Terry Rosen purchased 9,289 shares at an average price of $13.45 each.
— Present the final data from a phase I trial of AB928 in healthy volunteers at a medical conference in the fall.
— Initiate a phase I trial to evaluate the safety and pharmacokinetic profile of AB680 in healthy volunteers in the second half of 2018.
— Present safety, pharmacokinetic, receptor occupancy and clinical activity data from the ongoing phase I trial of AB122 in the second half of 2018.
— Present initial data from the dose-escalation trials of AB928 + AB122 and AB928 + chemotherapy, which will include data on safety, biomarker analysis and clinical activity for each of the combinations in the first half of 2019.
— Initiate the expansion cohorts for the AB928 + AB122 and AB928 + chemotherapy combinations. Initial data from the expansion cohorts are expected in late 2019.
— Report safety and pharmacokinetic data from the phase I trial of AB680 in healthy volunteers in the first half of 2019.
— Initiate clinical testing of AB680 in cancer patients in the first half of 2019.
by RTTNews Staff Writer
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