CRMD On Watch, SPRO On Track To Initiate Phase 3 Trial, BMRA's Sales Drop

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

1. CorMedix Inc. (CRMD)

Lost 16.51% to close Tuesday's (Oct.16) trading at $1.82.

News: No news

Clinical Trial & Near-term Catalyst:

The lead product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters, is under phase III development for patients undergoing chronic hemodialysis.

The phase III trial of Neutrolin, dubbed LOCK-IT-100, demonstrated efficacy in July of this year.

The Company plans to meet with the FDA regarding the next steps in the Neutrolin development plan in the fourth quarter of 2018.

Recent events:

-- On August 31, the NYSE Regulation accepted the Company's plan to regain listing compliance. -- CorMedix was notified on June 14, 2018, by the Exchange that the Company was not in compliance with Section 1003(a)(i)-(iii) related to insufficient stockholders' equity.

2. Vaxart Inc. (VXRT)

Lost 13.51% to close Tuesday's trading at $3.20.

News: No news

Recent event:

On October 4, the Company announced that its oral tablet vaccine provided 39% reduction in flu illness compared to 27% for Sanofi's Fluzone in a phase II challenge study.

3. Spero Therapeutics Inc. (SPRO)

Lost 12.81% to close Tuesday's trading at $8.51.

News: No news

Clinical Trials & Near-term Catalyst:

The Company's lead product candidate is SPR994 for the treatment of complicated urinary tract infection.

The results reported from a final analysis of a phase I single ascending dose (SAD) and multiple ascending dose (MAD) clinical trial of SPR994, last month, were positive.

A pivotal phase III clinical trial of SPR994 in patients with complicated urinary tract infections is expected to be initiated around year-end 2018.

4. Biomerica Inc. (BMRA)

Lost 9.23% to close Tuesday's trading at $3.05.

Biomerica is a global biomedical company that develops and markets advanced diagnostic products for the early detection of medical conditions and diseases.

News: The Company reported a wider loss and lower revenue for the three months ending August 31, 2018.

Net loss for the first quarter fiscal 2019 was $451,740 on net sales of net sales of $1.27 million. This compared to a net loss of $207,059 and revenue of $1.44 million during the same period in fiscal 2018.

5. Aerpio Pharmaceuticals Inc. (ARPO)

Aerpio Pharma is a biopharmaceutical company focused on developing treatments for ocular disease.

Lost 8.73% to close Tuesday's trading at $2.30.

News: No news

Clinical Trial & Near-term Catalyst:

The Company's lead product candidate is AKB-9778, under phase II study for the treatment of non-proliferative diabetic retinopathy, dubbed TIME-2b.

The top-line data from the TIME-2b study is expected to be reported in the second quarter of 2019.