AKCA Slips On FDA Snub, COCP To Report HCV Data In Q4, VCNX Down 23% This Month

(RTTNews) - The following are some of the pharma/biotech stocks that posted the biggest percentage decline today.

1. Akcea Therapeutics Inc. (AKCA)

Lost 25.33% to close Tuesday's (Aug.28) trading at $24.73.

News: The FDA has rejected the Company's drug candidate WAYLIVRA for the treatment of familial chylomicronemia syndrome, a rare lipid disorder.

In May of this year, an FDA panel had voted 12-8 to recommend the approval of Waylivr. Waylivra is co-developed by Akcea and Ionis Pharmaceuticals Inc. (IONS).

2. Ionis Pharmaceuticals Inc. (IONS)

Lost 15.88% to close Tuesday's trading at $45.17.

News: Waylivra, co-developed by Akcea and Ionis, has been rejected by the FDA.

3. Vaccinex Inc. (VCNX)

Lost 11.61% to close Tuesday's trading at $9.21.

News: No news

Recent event:

The Company went public on the NASDAQ Global Market on August 9, 2018, at an offering price of $12.00 per share.

4. Obalon Therapeutics Inc. (OBLN)

Obalon is the maker of the first and only FDA approved swallowable, gas-filled balloon for weight loss.

Lost 10.20% to close Tuesday's trading at $2.64.

News: No news

Recent events:

-- On August 27, the Company closed its previously announced private placement of its common stock for aggregate gross proceeds of $10 million. -- On August 2, the Company reported financial results for the second quarter ended June 30, 2018.

Net loss was $9.8 million or $0.57 per share on revenue of $2.7 million for the second quarter of 2018. This compared to a net loss of $7.7 million or $0.46 per share and revenue of $2.0 million in the year-ago quarter. The Company ended Q2, 2018 with cash of $25.2 million.

5. Cocrystal Pharma Inc. (COCP)

Lost 8.62% to close Tuesday's trading at $3.50.

News: No news

Near-term Catalysts:

-- Complete patient enrollment in a phase IIa study of CC-31244 for the ultra-short treatment of HepC in Q3, 2018. -- Announce top line results from Phase 2a study of CC-31244 in hepatitis C virus infection next quarter. -- Complete preclinical IND-enabling studies for CC-42344, being developed for the treatment of influenza, near year end. -- File a regulatory submission for CC-42344in H1 2019. -- Initiate a Phase 1 study evaluating CC-42344 for the treatment of influenza in H1 2019.