5 Top Losers In Healthcare Sector (TOCA, ADVM, CPRX…)

(RTTNews) - The following are some of the healthcare stocks that posted the biggest percentage decline on Thursday.

1. Tocagen Inc. (TOCA)

Tocagen is a clinical-stage, cancer-selective gene therapy company.

Lost 77.77% to close Thursday's (Sep.12) trading at $0.93.

News: The Company's phase III clinical trial evaluating Toca 511 & Toca FC in patients with recurrent high-grade glioma (HGG) undergoing resection, dubbed Toca 5, missed the primary endpoint of overall survival compared to standard of care treatment.

2. Adverum Biotechnologies Inc. (ADVM)

Adverum is a clinical-stage gene therapy company targeting unmet medical needs in ophthalmology and rare diseases.

Lost 50.33% to close Thursday's trading at $5.96.

News: The Company presented 24-week clinical data from the first cohort of patients treated with a one-time intravitreal (IVT) dose of ADVM-022 in its phase 1 clinical trial in wet age-related macular degeneration, dubbed the OPTIC trial.

According to the trial data, patients treated in the first cohort achieved vision maintenance and improvements in retinal anatomy and required zero anti-VEGF rescue injections after a one-time intravitreal dose of ADVM-022, through week 24. These patients previously required frequent anti-VEGF injections, say Regeneron Pharmaceuticals' (REGN) Eylea or Roche's Lucentis, to control their wet AMD and to maintain functional vision. ADVM-022 was safe and well-tolerated.

The mean change in the best-corrected visual acuity (BCVA), one of the efficacy measures, from baseline achieved at Week 24 was a loss of 2 letters. The range change in BCVA was a loss of 9.1 letters to a gain of 5.1 letters.

3. Celyad SA (CYAD)

Celyad is a biopharmaceutical company, specialized in CAR-T cell therapy.

Lost 22.12% to close Thursday's trading at $10.00.

News: The Company announced the pricing of a global offering of 2 million ordinary shares.

The offering is comprised of 1.72 million ordinary shares in the form of American Depositary Shares offered in the United States, Canada, and certain countries outside of Europe, priced at $10.00 per ADS, and 282,609 ordinary shares in Europe and certain countries outside of the United States and Canada in a concurrent private placement, priced at €9.08 per share.

The gross proceeds to Celyad from the global offering are expected to be approximately $20.0 million.

4. American Renal Associates Holdings Inc. (ARA)

American Renal Associates is a dialysis services provider in the United States.

Lost 21.35% to close Thursday's trading at $10.61.

News: No news

Recent event:

-- On September 5, 2019, the Company announced that it has completed its required periodic filings, say the Annual Report on Form 10-K for the fiscal year ended December 31, 2018, and Quarterly Reports on Form 10-Q for the first and second fiscal quarters ended March 31, 2019 and June 30, 2019, and is back in compliance with its listing requirements under New York Stock Exchange rules.

For 2019, the Company expects total normalized treatment growth to be in a range of 7.0% to 7.5%, compared to 6.1% in 2018. Revenue per treatment for 2019 is anticipated to decline by 2% to 3%, as compared to $349 in 2018.

5. Catalyst Pharmaceuticals Inc. (CPRX)

Catalyst Pharma is a biopharmaceutical company developing therapies for people with rare debilitating, chronic neuromuscular and neurological diseases.

Lost 17.50% to close Thursday's trading at $6.13.

News: The Company has commenced an underwritten public offering of 8.0 million shares of its common stock.

The underwriters will be given a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering on the same terms and conditions.

Near-term Catalysts:

-- Completion of enrollment in phase III clinical trial of Firdapse in patients with muscle-specific kinase (MuSK) antibody-positive myasthenia gravis (MuSK-MG) is expected in the second half of 2019, with top-line results anticipated in the first half of 2020. -- Top-line results from phase III trial of Firdapse for Congenital Myasthenic Syndromes are expected in the second half of 2019. -- Top-line results from proof-of-concept phase II trial of Firdapse in ambulatory patients with spinal muscular atrophy (SMA) type 3 are expected in the first half of 2020.