MYOK Falls On Sanofi Deal Update, YMAB On Track, EQ Braces For Busy Year Ahead

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

1. MyoKardia Inc. (MYOK)

Lost 14.14% to close Wednesday's (Jan.2) trading at $41.95.

News: Sanofi has decided not to extend its collaboration with MyoKardia beyond the initial research term, which ended on December 31, 2018. The collaboration, which was initiated in 2014, will conclude in its entirety effective April 1, 2019.

With Sanofi not extending the collaboration term, MyoKardia has regained global rights to lead clinical-stage candidates, Mavacamten and MYK-491.

Mavacamten is currently in a late-stage pivotal study for the treatment of hypertrophic cardiomyopathy, and MYK-491 is under a phase II proof-of-concept study in patients with dilated cardiomyopathy.

2. Y-mAbs Therapeutics Inc. (YMAB)

Lost 10.47% to close Wednesday's trading at $18.21.

Y-mAbs is a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer.

News: No news

Recent event:

On September 25, 2018, the Company went public on the Nasdaq Global Select Market, offering its shares at a price of $16.00 each.

Pipeline & Near-term Catalysts:

-- Naxitamab for the treatment of pediatric patients with relapsed or refractory, or R/R, high-risk neuroblastoma under pivotal phase III trial. -- Radiolabeled Omburtamab for the treatment of pediatric patients with central nervous system leptomeningeal metastases from neuroblastoma, under pivotal phase III trial. -- Submit Biologics License Applications for Naxitamab and Omburtamab in 2019. -- A phase I/II clinical trial for a humanized bispecific GD2 antibody in patients with relapsed/refractory neuroblastoma, high grade osteosarcoma and other GD2(+) solid tumors, where patients have relapsed or refractory disease that is resistant to standard therapy, is expected to be initiated soon.

3. Tandem Diabetes Care Inc. (TNDM)

Lost 10.46% to close Wednesday's trading at $34.00.

Tandem Diabetes is a medical device company and manufacturer of the only touchscreen insulin pumps with continuous glucose monitoring integration.

News: No news

Recent events:

-- On November 21, 2018, the Company's stock was upgraded to "Outperform" from "Neutral" by Robert W. Baird & Co analyst Jeff Johnson. However, the analyst lowered his price target to $46 from $49. -- On November 1, 2018, while reporting its financial results for the quarter ended September 30, 2018, the Company boosted its sales guidance for the year.

The revised sales outlook range for the year ending December 31, 2018, is $160 million to $165 million, which represents an annual sales growth of 49 percent to 53 percent compared to 2017.

4. Equillium Inc. (EQ)

Lost 8.95% to close Wednesday's trading at $7.43.

News: No news

Recent event:

-- On October 12, 2018, the Company went public on the Nasdaq Global Market, offering its shares at a price of $14.00 each.

Pipeline:

The Company's lead drug candidate is EQ001 with the potential for the treatment of acute graft-versus-host disease (aGVHD), chronic graft-versus-host disease (cGVHD), severe asthma and at least one additional indication.

Near-term Catalysts:

-- Initiate a phase Ib/II clinical trial of EQ001 in patients with aGVHD, dubbed EQUATE, in early 2019. -- Initiate a phase II clinical trial of EQ001 in patients with cGVHD in the first half of 2019. -- Initiate a proof-of-concept clinical trial of EQ001 in severe asthma in the first half of 2019. -- Select a fourth indication for EQ001 in the first half of 2019.

5. Globus Medical Inc. (GMED)

Globus Medical is a musculoskeletal implant manufacturer.

Lost 8.48% to close Wednesday's trading at $39.61.

News: No news

Recent event:

-- On November 8, 2018, the Company reported financial results for the third quarter ended September 30, 2018.

Third quarter GAAP net income for the third quarter of 2018 was $35.2 million, an increase of 37.6% over the same period last year. The EPS for the recent third quarter was $0.35 compared to $0.26 for the third quarter 2017. On a non-GAAP basis, EPS for the third quarter of 2018 was $0.39 compared to $0.30 in the third quarter of 2017, an increase of 29.2%.

Worldwide sales for the third quarter of 2018 were $169.2 million, an increase of 11.5% over the third quarter of 2017.

For full year 2018, the Company expects sales of $705 million and non-GAAP earnings per share of $1.62. Sales were $636.0 million, and non-GAAP EPS was $1.31 in 2017.