EVFM Powered Up, AXON Gets A Boost, ARVN On Watch

RTTNews
Dec. 17, 2018, 08:17 PM

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

1. electroCore Inc. (ECOR)

electroCore is a commercial-stage bioelectronic medicine company.

Gained 17.81% to close Monday's (Dec.17) trading at $4.96.

News: No news

Recent events:

-- On November 28, the Company received FDA clearance for an expanded label for gammaCore [non-invasive vagus nerve stimulator (nVNS)] therapy for adjunctive use for the preventive treatment of cluster headache in adult patients.

GammaCore was given clearance in the U.S. for the acute treatment of pain associated with episodic cluster headache in April 2017, and for acute treatment of pain associated with migraine headache in adult patients in January 2018.

-- On November 13, the Company reported financial results for the third quarter ended September 30, 2018.

Net sales in the recent third quarter declined to $150,972 from $283 thousand in the year-ago quarter. The decrease in net sales versus the third quarter of 2017 contrasts with the significant increase in prescriptions during the same period as a result of a vast majority of prescriptions being dispensed under the patient voucher and copay assistance programs, as negotiations with commercial payers for formulary coverage of gammaCore continue.

The Company expects this trend to be temporary, as increased numbers of patients are expected to obtain commercial prescription coverage for gammaCore starting in January 2019.

2. Evofem Biosciences Inc. (EVFM)

Gained 15.71% to close Monday's trading at $4.05.

News: The Company's phase III clinical trial of Amphora for the prevention of pregnancy, dubbed AMPOWER, successfully met its primary endpoint.

Amphora, the Company's lead product candidate, is a non-hormonal, surfactant-free bioadhesive vaginal gel.

In women who correctly used Amphora per study protocol, the cumulative pregnancy rate was 1.3% over seven cycles of use, which corresponds to a 98.7% efficacy rate.

The compelling results demonstrate that when Amphora is used as directed, the efficacy in which women can have confidence is similar to other frequently used contraceptive methods, noted the Company.

3. Axovant Sciences Ltd. (AXON)

Gained 13.86% to close Monday's trading at $1.15.

News: The Company's stock has been upgraded to "Buy" from "Hold", and price target raised to $3 from $2.50 by Jefferies' analyst Michael Yee.

Recent event:

On December 14, the Company priced its underwritten public offering of 30 million of its common shares at $1.00 each. Gross proceeds to Axovant from the offering are expected to be approximately $30 million.

The underwriters have a 30-day option to purchase up to an additional 4.5 million of the Company's common shares on the same terms and conditions. The offering is expected to close on December 18, 2018, subject to customary closing conditions.

4. Arvinas Holding Company LLC (ARVN)

Gained 8.31% to close Monday's trading at $15.38.

News: No news

Recent event:

The Company went public on the Nasdaq Global Select Market on September 27, 2018 offering its shares at a price of $16 each.

Pipeline:

The lead product candidates are ARV-110 and ARV-471. The Company expects to initiate a Phase 1 clinical trial for ARV-110 in men with metastatic castration-resistant prostate cancer, or mCRPC, in the first quarter of 2019, and a Phase 1 clinical trial for ARV-471 in women with metastatic ER positive / HER2 negative breast cancer, or ER+ breast cancer, in mid-2019.

41.28
-0.05 (-0.12%)
Arvinas Inc Registered Shs
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