Today's Top Gainers: PTGX Bounces Back, ALLK Abuzz, AVXL On The Move...

(RTTNews) - The following are some of today's top gainers in the healthcare sector.

1. Protagonist Therapeutics Inc. (PTGX)

Protagonist Therapeutics is a clinical-stage biopharmaceutical company. The Company's lead compound is PTG-300 in development for the potential treatment of iron overload anemia and related rare blood diseases including beta-thalassemia and polycythemia vera.

Gained 72.97% to close Wednesday's (Dec.4, 2019) trading at $8.11, recovering all of yesterday's losses.

News: No news

Recent event:

Yesterday (Dec.3, 2019), the Company announced promising preliminary results from phase II trial of PTG-300 in patients with transfusion-dependent (TD) beta-thalassemia, dubbed TRANSCEND. Dose-related reductions in serum iron and transferrin saturation levels were observed, providing strong rationale for potential utility of PTG-300 in blood disorders directly dependent on disruption of normal iron homeostasis in the body, noted the Company.

Near-term Catalysts:

-- A phase II study of PTG-300 in patients with hereditary hemochromatosis, a third indication of development for the compound, is expected to be initiated by early 2020. -- An investigator-sponsored study of PTG-300 in patients with myelodysplastic syndromes, which represents a fourth potential indication for PTG-300, is expected to begin in early 2020. -- A phase II study of PN-943 for the treatment of ulcerative colitis is expected to be initiated in the second quarter of 2020. -- A phase II study of PTG-200 (also referenced as JNJ-67864238) in patients with moderate to severe Crohn's disease is underway. Protagonist Therapeutics and Janssen Biotech are jointly conducting the development of PTG-200 through completion of Phase 2 clinical proof of concept in the treatment of Crohn's disease.

2. Kodiak Sciences Inc. (KOD)

Kodiak Sciences is a clinical-stage biopharmaceutical company developing biologics-based medicines to treat retinal diseases.

Gained 49.21% to close Wednesday's trading at $73.41. The stock touched an all-time high of $74.48 in intraday trading.

News: No news

Recent events:

-- On December 3, 2019, the Company offered to sell 6 million shares of its common stock to the public at a price of $46.00 per share. The aggregate gross proceeds from the offering are expected to be approximately $276.0 million. The offering is expected to close on or about December 6, 2019. Kodiak Sciences has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock.

-- On December 2, 2019, Kodiak entered into a funding agreement to sell a capped royalty right on global net sales of its investigational drug KSI-301 to Baker Bros. Advisors for $225 million.

KSI-301 is under a pivotal phase II clinical trial in patients with treatment naïve wet AMD, dubbed DAZZLE. It was initiated in September of this year.

3. Allakos Inc. (ALLK)

Allakos is a clinical-stage biotechnology company focused on developing therapeutic antibodies for the treatment of various eosinophil and mast cell-related diseases.

Gained 43.56% to close Wednesday's trading at $137.73.

News: The Company is considering a sale, Bloomberg has reported, quoting sources.

The lone product candidate of Allakos is AK002, which is under a phase 2a study in subjects with antihistamine-resistant chronic urticaria, and phase II extension study in patients with eosinophilic gastritis and/or eosinophilic gastroenteritis. AK002 has also been successfully tested in a phase I study in patients with severe allergic conjunctivitis, and in a phase I study in indolent systemic mastocytosis.

4. Anavex Life Sciences Corp. (AVXL)

Anavex is a clinical-stage biopharmaceutical company developing treatments for Alzheimer's disease, Parkinson's disease, Rett syndrome, and other central nervous system diseases.

The Company's lead drug candidate is ANAVEX2-73, which is under a phase 2b/3 study in Alzheimer's, and phase II studies in Parkinson's disease dementia and Rett syndrome.

Gained 28.39% to close Wednesday's trading at $3.03.

News: The Company presented interim 2-year data from the phase IIa ANAVEX2-73 extension study, with Alzheimer's disease patients followed for up to five years. The results confirm the rationale to advance the ANAVEX2-73 Alzheimer's disease program through the ongoing Phase 2b/3 Alzheimer's disease clinical study, noted Christopher Missling, Chief Executive Officer of Anavex.

Near-term Catalysts:

-- Clinical updates from Phase 2 Rett syndrome studies, Phase 2 Parkinson's disease dementia study and Phase 2b/3 Alzheimer's disease are anticipated in 2019/2020.

5. Applied Therapeutics Inc. (APLT)

Applied Therapeutics is a clinical-stage biopharmaceutical company developing novel products for the treatment of cardiovascular disease, galactosemia and diabetic complications.

Gained 21.70% to close Wednesday's trading at $24.

News: No news

Clinical Trials & Near-term Catalysts:

-- A phase III registrational trial for AT-001 in Diabetic Cardiomyopathy, dubbed ARISE-HF, is underway. -- A phase I/II study of AT-007 in Galactosemia, dubbed ACTION-Galactosemia, is ongoing. Data from the adult Galactosemia patient portion of the trial is due this quarter.

Cash and cash equivalents and short-term investments totaled $33.0 million as of September 30, 2019.