GALT Down But Not Out, PTI To Report Data In Q1, Keep A Close Eye On MRSN

(RTTNews) - The following are some of the stocks that lost the largest percentage in price today in the pharma/biotech sector.

1. Galectin Therapeutics Inc. (GALT)

Lost 14.89% to close Monday's (Dec.18) trading at $2.00.

News: Certain law firms are investigating a potential breach of fiduciary duty claim involving the board of directors of Galectin.

Recent event:

On December 5, 2017, the Company reported phase IIb trial results of its proprietary compound GR-MD-02 in patients with NASH with cirrhosis.

In the trial, dubbed NASH-CX, GR-MD-02 had a statistically significant and clinically meaningful effect in reducing the primary endpoint measurement of hepatic venous pressure gradient (HVPG) in the subset of patients with NASH cirrhosis who did not have baseline esophageal varices. However, when the total group of patients, which included both with and without varices, was considered, statistical significance was not achieved for the primary endpoint. The stock slumped 30% that day to $1.72.

Near-term catalysts:

-- The Company will be submitting the NASH-CX results for presentation at the International Liver Conference to be held in Paris, France, in April 2018, and submit a manuscript to a peer reviewed journal. -- Advance GR-MD-02 into phase III testing. -- The Company might also explore collaboration with a large biotech or pharma company.

2. Trillium Therapeutics Inc. (TRIL)

Lost 10.60% to close Monday's trading at $6.75.

News: No news

Pipeline:

The Company's lead drug candidate is TTI-621, which is under phase I studies. One study is evaluating the drug candidate in patients with advanced hematologic malignancies and select solid tumors and another is in patients with solid tumors and mycosis fungoides (T Cell Lymphoma).

Near-term catalyst:

-- An IND for TTI-622, which is primarily being developed for combination therapy, is expected to be filed this year.

3. Proteostasis Therapeutics Inc. (PTI)

Lost 10.42% to close Monday's trading at $4.47.

News: No news

Pipeline:

The Company's drug candidates include PTI-428, PTI-801 and PTI-808 for cystic fibrosis.

Recent events:

-- On December 13, 2017, the Company priced an underwritten public offering of 8 million shares of its common stock at a price of $5.00 each. The offering was supposed to close today.

On December 12, 2017, the Company reported positive study results across all three of its cystic fibrosis pipeline programs. The news sent the stock soaring over 161% to close that day's trading at $6.14.

The reported data included 28-day phase II clinical trial results of PTI-428 in cystic fibrosis patients receiving Vertex Pharmaceuticals' Orkambi as their background therapy; initial data from the first five subjects in an ongoing phase I study of PTI-801 in cystic fibrosis patients on Orkambi background therapy and data from a phase I study of PTI-808 in healthy volunteers.

Near-term catalyst:

-- A 14-day phase II study of PTI-428 in cystic fibrosis patients on Vertex Pharmaceuticals' Kalydeco is ongoing, with preliminary data anticipated in the first quarter of 2018.

4. Marinus Pharmaceuticals Inc. (MRNS)

Lost 9.69% to close Monday's trading at $7.12.

News: The Company's addition to the NASDAQ Biotechnology Index became become effective today.

Please visit our Company Spotlight column to know more about MRNS.

5. Bellerophon Therapeutics Inc. (BLPH)

Lost 8.40% to close Monday's trading at $2.40.

News: No news

Clinical trials & Near-term catalysts:

-- A phase III program evaluating INOpulse in the treatment of Pulmonary Arterial Hypertension, dubbed INOvation-1, is underway. Interim analysis and the top-line results for the study are expected to be available in 2018. -- A second phase III study of INOpulse in Pulmonary Arterial Hypertension, dubbed INOvation-RW, is planned for initiation in the second half of 2018, with top-line results anticipated in 2019. -- A phase IIb study for INOpulse in Idiopathic Pulmonary Fibrosis, called iNO-PF, is expected to commence in early 2018, with readout expected by the end of 2018.

6. Mersana Therapeutics Inc. (MRSN)

Lost 7.27% to close Monday's trading at $16.21.

News: No news

Recent event:

-- The Company went public on the NASDAQ Global Select Market on June 28, 2017 at an offering price of 15.00 per share.

Clinical trials & Near-term catalysts:

-- Interim safety results from phase I trial of lead oncology drug candidate XMT-1522 in patients with advanced tumors expressing HER2, including breast cancer, non-small-cell-lung-cancer (NSCLC) and gastric cancer are expected around the end of this year. -- Initiated a phase I dose escalation and expansion study of XMT-1536, a potential first-in-class Dolaflexin ADC targeting NaPi2b-expressing tumors, on December 12, 2017.