Today’s Top 5 Losers In Healthcare Sector (ECOR, NTEC, AIM…)
The following are some of the healthcare stocks that posted the biggest percentage decline on Tuesday.
1. Emmaus Life Sciences Inc. (EMMA.OB)
Emmaus Life Sciences, formerly known as MYnd Analytics Inc., is a commercial-stage biopharmaceutical company.
Lost 27.57% to close Tuesday’s (Sep.24) trading at $1.34.
News: No news
On September 19, 2019, the Company announced the withdrawal of its marketing authorization application to the European Medicines Agency for Xyndari for the treatment of sickle cell disease.
Xyndari was approved under the tradename Endari by the FDA in July 2017.
Emmaus common stock and warrants were delisted from The Nasdaq Stock Market on September 11, 2019., for not being in compliant with the $5 million minimum stockholders’ equity requirement.
2. electroCore LLC (ECOR)
electroCore is a commercial-stage bioelectronic medicine company.
Lost 19.62% to close Tuesday’s trading at $3.36.
News: No news
On August 18, 2019, the Company announced second quarter 2019 financial results.
Net sales in the second quarter of 2019 were approximately $623,000 compared to $393,000 in the year-ago quarter.
The Company’s marketed product is GammaCore, which was given clearance in the U.S. for the acute treatment of pain associated with episodic cluster headache in April 2017, for acute treatment of pain associated with migraine headache in adult patients in January 2018, and for adjunctive use for the preventive treatment of cluster headache in adult patients in November 2018.
GammaCore is a non-invasive vagus nerve stimulator (nVNS) therapy.
— PREMIUM II, a multicenter, prospective, double-blind, randomized, sham-controlled study of GammaCore for the preventive treatment of migraine in the U.S. is underway. Enrollment in the study is expected to be completed in the first half of 2020.
3. Sintx Technologies Inc. (SINT)
SINTX Technologies is a commercial biomaterial company focused on using its silicon nitride technology platform to develop, manufacture and sell a broad range of medical devices.
Lost 15.90% to close Tuesday’s trading at $2.01.
News: No news
— On September 12, 2019, the Company announced that it has retained Ascendiant Capital Markets, LLC of Irvine, California, Member FINRA & SIPC as an investment bank and advisor to identify strategic opportunities in the dental space.
— On August 15, 2019, the Company announced financial results for the second quarter ended June 30, 2019, and also revealed that it is now compliant with the minimum bid price requirement for continued listing on the Nasdaq Stock Market.
The revenue for the second quarter of 2019 was $0.2 million compared to nil revenue in the year-ago quarter. The loss from continuing operations for the recent second quarter was $0.73 million or $1.46 per share compared to a loss from continuing operations $2.181 million or $12.06 per share in the year-ago quarter.
As of June 30, 2019, the Company had cash and cash equivalents of $3.2 million.
4. Intec Pharma Ltd. (NTEC)
Intech’s proprietary drug delivery technology, Accordion Pill, is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism.
Lost 14.65% to close Tuesday’s trading at $0.85.
News: No news
— The results of a phase III trial of Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, for the treatment of Parkinson’s disease symptoms in advanced Parkinson’s disease, dubbed ACCORDANCE, were announced in July of this year. The study did not meet the endpoints.
— A phase I trial of AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain indications is ongoing.
5. AIM ImmunoTech Inc. (AIM)
Lost 14.53% to close Tuesday’s trading at $1.48.
News: Despite, two positive announcements, the Company’s stock took a hit.
AIM ImmunoTech, formerly known as Hemispherx Biopharma, announced that its flagship product Ampligen has received clearance from FDA for exportation to Argentina for the treatment of severe chronic fatigue syndrome.
Ampligen is approved in Argentina, and is not approved in the U.S. yet.
The Company also announced that the U.S. Department of Defense (DoD) has granted $8.32 million “Breakthrough Award to Moffitt Cancer Center to fund a phase II clinical study of a combination of therapies, including the Company’s drug Ampligen, in patients with brain-metastatic breast cancer (BMBC).
— On September 19, 2019, the U.S. Department of Defense granted a four-year, $6.42 million “Breakthrough Award” to Roswell Park Comprehensive Cancer Center for a phase II clinical study of a combination of therapies, including Ampligen, in patients with brain-metastatic breast cancer.
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