The following are some of today's top gainers in the healthcare sector.
1. Eloxx Pharmaceuticals Inc. (ELOX)
Eloxx is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapeutics for the treatment of rare and ultra-rare genetic diseases. The lead drug candidate is ELX-02, being developed for the treatment of cystic fibrosis and cystinosis.
Gained 80.18% to close Thursday's (Oct.31) trading at $6.09.
News: The Company announced positive data demonstrating that ELX-02 results in a pronounced increase in both CFTR protein expression and mRNA stability, further supporting its proposed mechanism of action and that it was well tolerated with no serious adverse events in the Phase 1 program.
Clinical Trials & Near-term Catalyst:
ELX-02 has advanced into Phase 2 clinical trials and an update on the programs will be provided on November 5, 2019.
2. PolarityTE Inc. (PTE)
PolarityTE is a commercial-stage biotechnology and regenerative biomaterials company. Revenue is generated from sales of *SkinTE and contract research operations.
Gained 26.64% to close Thursday's trading at $2.71.
News: No news
The Company is slated to report third-quarter 2019 financial results on November 12, 2019, at approximately 4:00 p.m. Eastern Time.
*SkinTE is a human cellular and tissue-based product derived from a patient's own skin designed to regenerate full-thickness, functional skin for skin repair, reconstruction, and replacement.
3. EyeGate Pharmaceuticals Inc. (EYEG)
EyeGate Pharma is a clinical-stage company focused on developing products for treating disorders of the eye.
Gained 17.58% to close Thursday's trading at $3.88.
News: No news
Clinical Trials & Near-term Catalysts:
The lead product candidate is Ocular Bandage Gel (OBG), a unique, first-in-class eye drop formulation, currently in clinical development for two indications - Photorefractive Keratectomy (PRK) surgery and Punctate Epitheliopathies (PE).
-- A pivotal study of Ocular Bandage Gel in photorefractive keratectomy is underway, with topline results expected by year-end 2019, after which the Company plans to submit the de novo application for commercialization in the first half of 2020. -- Enrollment in a follow-on pilot study of Ocular Bandage Gel for punctate epitheliopathies began in early October 2019.
4. Myovant Sciences Ltd. (MYOV)
Myovant Sciences is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of women's health and endocrine diseases.
Gained 17.42% to close Thursday's trading at $5.46.
News: The Company has entered into a landmark agreement with Sumitomo Dainippon Pharma Co., Ltd. a Japanese pharmaceutical company, on a $350 million low-interest, five-year term loan facility and an Investor Rights Agreement.
The $350 million low-interest, five-year term loan facility, with no repayments due until the end of the term, will be used to fund Myovant's operating expenditures. The agreement will also provide Myovant an opportunity to access Sumitomo Dainippon Pharma's commercial infrastructure and operational support for planned Relugolix commercialization. Relugolix is Myovant's lead product candidate, which is under three late-stage clinical programs namely for uterine fibroids, endometriosis, and prostate cancer.
The Investor Rights Agreement aims to provide significant safeguards for minority shareholders.
-- Top-line results from a phase III trial of Relugolix in men with advanced prostate cancer, dubbed HERO, are expected later this year. -- Results from two Phase 3 studies, SPIRIT 1 and SPIRIT 2, evaluating Relugolix combination therapy in women with endometriosis are expected to be reported in the first and second quarters of 2020.
5. STAAR Surgical Co. (STAA)
STAAR Surgical is a developer and marketer of implantable lenses and companion delivery systems for the eye.
Gained 17.36% to close Thursday's trading at $32.78.
News: The Company reported better-than-expected financial results for the third quarter ended September 27, 2019.
On a non-GAAP basis, net income for the third quarter of 2019 was $5.5 million or $0.12 per share compared to $3.4 million or $0.07 per share for the prior-year quarter. Analysts expected the Company to earn $0.05 per share for the quarter.
Net sales were $39.1 million for the third quarter of 2019, up 23% as compared to $31.8 million reported in the year-ago quarter.
The Company ended September 27, 2019, with cash of $112.3 million.