5 Top Losers In Pharma Sector (BCRX, ONCS, OCUL...)

(RTTNews) - The following are some of the pharma/biotech stocks that posted the biggest percentage decline on Tuesday.

1. BioCryst Pharmaceuticals Inc. (BCRX)

Lost 52.91% to close Tuesday's (May 21) trading at $3.48.

News: The Company announced that its phase III study of once-daily, oral BCX7353 for the prevention of hereditary angioedema attacks, dubbed APeX-2, achieved its primary endpoint for both dose levels (110 mg and 150 mg), with the 150 mg dose reducing the attack rate in hereditary angioedema patients by 44 percent compared to placebo.

Although the trial results were positive, they are no match for Shire's Takhzyro, which was approved by the FDA last August to prevent attacks of hereditary angioedema. In a pivotal study, patients taking Takhzyro 300 mg every 2 weeks had an 87 percent reduction in mean monthly attacks compared to placebo.

As mentioned above, BioCryst's BCX7353 reduced attack rate in hereditary angioedema patients by only 44 percent compared to placebo.

Near-term Catalyst:

-- Filing of NDA for BCX7353 for the prevention of hereditary angioedema (HAE) attacks is expected in Q4, 2019.

2. Mallinckrodt Public Limited Company (MNK)

Lost 24.25% to close Tuesday's trading at $9.87.

News: After extensive efforts to resolve the matter, the Company has filed suit against U.S. Department of Health and Human Services (HHS) and Centers for Medicare and Medicaid Services (CMS) to protect Medicaid patient access to Acthar Gel.

The suit challenges CMS' reversal of its repeated 2012 written authorizations on calculation of Medicaid rebates for Acthar Gel.

Without court intervention, Acthar Gel Medicaid net sales, which make up about 10% of total, would be eliminated by CMS' decision, placing drug's previous net sales 2019 guidance of over $1.0 billion at risk, with the potential for retroactive non-recurring charges of $0 to $600 million, according to the Company.

3. OncoSec Medical Incorporated (ONCS)

Closed Tuesday's trading at $4.00, up 6.64%. Fell 23.25% to $3.07 in after-hours.

News: The Company announced that it intends to offer for sale a combination of shares of its common stock and warrants in an underwritten public offering.

Recent event:

A one-for-ten (1-for-10) reverse stock split of its common stock came into effect on May 21, 2019.

4. Tocagen Inc. (TOCA)

Closed Tuesday's trading at $8.82, down 1.78%. Fell 30.61% to $6.12 in after-hours.

News: An Independent Data Monitoring Committee has recommended that the Company's phase III clinical trial evaluating Toca 511 & Toca FC in patients with recurrent high grade glioma, dubbed Toca 5, continue without modification.

Although this is encouraging news, for investors who were hoping the trial to be stopped early based on positive efficacy findings, it rather came as a bit of disappointment.

The Company's cash, cash equivalents, and marketable securities were $80.1 million at March 31, 2019.

5. Ocular Therapeutix Inc. (OCUL)

Lost 22.55% to close Tuesday's trading at $2.61.

News: The Company announced that its first pivotal Phase 3 clinical trial of OTX-TP for the reduction of intraocular pressure (IOP) in patients with primary open-angle glaucoma or ocular hypertension failed to meet primary endpoint.

The trial's primary efficacy endpoint was to demonstrate a statistically superior mean reduction of IOP from baseline for OTX-TP treated subjects compared with placebo at nine different time points, three diurnal time points (8 AM, 10 AM, and 4 PM) at each of 2, 6, and 12 weeks.

However, the trial achieved a statistically significant reduction of intraocular pressure versus placebo at eight of the nine pre-specified time points, according to the Company.