Top 5 Losers In Healthcare Sector (SRNE, NGM, CAPR…)

(RTTNews) - The following are some of the healthcare stocks that posted the biggest percentage decline on Monday.

1. Sorrento Therapeutics Inc. (SRNE)

Sorrento is a clinical-stage, antibody-centric, biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases.

Lost 25.52% to close Monday's (Oct.7) trading at $1.78.

News: The Company has entered into definitive agreements with several healthcare-focused institutional investors for the purchase in a registered direct offering of 10.87 million shares of its common stock and warrants to purchase up to 10.87 million shares of its common stock, at a combined purchase price of $2.30 per share and related warrant.

The gross proceeds of the offering are expected to be approximately $25 million. The offering is expected to close on or about October 9, 2019.

2. NGM Biopharmaceuticals Inc. (NGM)

NGM Biopharmaceuticals is a clinical-stage biopharmaceutical company developing novel therapeutics for cardio-metabolic, liver, oncologic, and ophthalmic diseases.

Lost 20.44% to close Monday's trading at $10.78.

News: Despite the Company reporting positive preliminary results from an ongoing 24-week phase II study evaluating Aldafermin (NGM282) in patients with NASH, the stock price has taken a hit.

According to the trial results, treatment with Aldafermin 1 mg resulted in statistically significant reductions in absolute and relative liver fat at 24 weeks in patients with stage 2 or 3 (F2-F3) liver fibrosis compared to placebo. Statistically significant improvements were also observed across key non-invasive biomarkers of metabolism, inflammation, and fibrosis, with a favorable tolerability profile, says the Company.

Near-term Catalyst:

Full 24-week Cohort 4 data, including biopsy assessments, from the phase II study evaluating Aldafermin (NGM282) in patients with NASH is anticipated in Q1 2020.

3. DiaMedica Therapeutics Inc. (DMAC)

DiaMedica Therapeutics is a clinical-stage biopharmaceutical company developing novel treatments for kidney diseases and neurological disorders.

Lost 11.26% to close Monday's trading at $2.05.

News: No news

Clinical Trials & Near-term Catalyst:

The lead drug candidate is DM199 in acute ischemic stroke patients under phase II trial, dubbed REMEDY. The trial is expected to be completed by January 2020.

4. Capricor Therapeutics Inc. (CAPR)

Capricor Therapeutics is a clinical-stage biotechnology company developing first-in-class biological therapeutics for the treatment of rare disorders.

Lost 10.42% to close Monday's trading at $3.01.

News: Despite the Company reporting positive, additional six-month interim data from HOPE-2, its ongoing Phase 2 clinical trial of its lead investigational product, CAP-1002, for the treatment of Duchenne muscular dystrophy (DMD), the stock price fell.

In July of this year, the Company announced that a pre-specified interim analysis performed on 6-month data from the HOPE-2 trial showed statistically significant results across several independent clinical measures.

Additional data reported on Monday revealed that teens and young men in the advanced stages of DMD saw improvements in skeletal, pulmonary, and cardiac measurements after receiving multiple doses of CAP-1002. Specifically, patients showed improvements in the Performance of the Upper Limb (PUL), a tool specifically designed for assessing high (shoulder), mid (elbow) and distal (wrist & hand) function.

As previously reported, additional independent tests assessing grip strength and tip to tip pinch strength also showed positive results, according to the Company.

5. Arbutus Biopharma Corporation (ABUS)

Arbutus is a biopharmaceutical company developing a cure for patients suffering from chronic Hepatitis B infection.

Lost 10.22% to close Monday's trading at $0.91. The stock has lost over 35% of its value in the last two trading days.

News: No news

Recent event:

On October 3, 2019, the Company discontinued the clinical development of AB-506, an oral capsid inhibitor.

AB-506 was in a Phase 1a/1b clinical trial for the treatment of chronic hepatitis B. Two cases of acute hepatitis in the Phase 1a part of the trial in healthy volunteers were reported, following which the Company pulled the plug on the drug.