6 Top Gainers In Healthcare Sector (IMAC, SNDX, WCG...)

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

1. IMAC Holdings Inc. (IMAC)

IMAC is a provider of regenerative rehabilitation orthopedic treatments without the use of surgery or opioids.

Gained 94.82% to close Wednesday's (Mar.27) trading at $7.15.

News: No news

Recent events:

-- On March 20, the Company announced patient visits and procedure volume at its IMAC clinics during the 2018 fourth quarter (Q4) and full year 2018.

Visit counts jumped to 30,595 in the fourth quarter of 2018 from 2,012 in the year-ago period. Procedure counts increased by 1,124.3% to 80,009 in the recent fourth quarter from 6,535 in the fourth quarter of 2017.

-- On February 13, the Company went public on the NASDAQ Capital Market at a combined initial public offering price of $5.125 per unit.

2. CorMedix Inc. (CRMD)

CorMedix is a biopharmaceutical company developing therapeutic products for the prevention and treatment of infectious and inflammatory diseases.

Gained 21.65% to close Wednesday's trading at $9.27.

News: No news

Recent event:

-- On March 26, the Company implemented a one-for-five reverse stock split. The reverse stock split reduced the number of shares of common stock issued and outstanding from approximately 119.0 million to approximately 23.8 million.

Product pipeline:

The lead product candidate Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters, is under phase III development for patients undergoing chronic hemodialysis.

The phase III trial of Neutrolin, dubbed LOCK-IT-100, demonstrated efficacy last July. The topline results of the full data set of LOCK-IT-100 were announced on January 30, 2019.

At a recently held meeting, the FDA agreed that the Company could request consideration of Neutrolin for approval under the LPAD (Limited Population Pathway for Antibacterial and Antifungal Drugs) pathway.

3. CHF Solutions Inc. (CHFS)

CHF Solutions is a medical device company focused on commercializing Aquadex FlexFlow system for aquapheresis therapy.

Aquadex FlexFlow system is indicated for ultrafiltration to reduce fluid overload in patients when diuretics fail. The device is FDA 510(k) market cleared and CE marked.

Gained 18.44% to close Wednesday's trading at $4.24.

News: No news

Recent event:

-- On March 12, the Company announced the closing of an underwritten public offering of units for gross proceeds of $12.42 million, including full exercise of the underwriter's over-allotment option. -- On February 20, the Company reported fourth quarter and full year 2018 financial results.

The annual net loss in 2018 was $17 million or $42.14 per share on net sales of $4.99 million. This compared with a net loss of $13.4 million or $525.01 per share and net sales of $3.55 million in 2017.

4. Arcturus Therapeutics Ltd. (ARCT)

Arcturus Therapeutics is a preclinical drug delivery and RNA medicines company.

Gained 17.50% to close Wednesday's trading at $6.38.

News: No news

Near-term Catalyst:

-- Submission of an Investigational New Drug Application for ARCT-810 to the FDA in the fourth quarter of 2019.

ARCT-810 is Arcturus' first development candidate, and it represents a novel approach to treat ornithine transcarbamylase deficiency, an inherited disorder that causes ammonia to accumulate in the blood.

5. Syndax Pharmaceuticals Inc. (SNDX)

Syndax Pharma is a late-stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications.

Gained 16.09% to close Wednesday's trading at $5.34.

News: The Company has entered into an agreement with Biotechnology Value Fund, L.P. and other leading life sciences investors for the purchase of 4.37 million shares of common stock at a purchase price of $6.00 per share as well as warrants to purchase up to 2.18 million shares of common stock at an exercise price of $12.00 per share, and warrants to purchase up to 2.18 million shares of common stock at an exercise price of $18.00 per share.

The gross proceeds from the offering are expected to be approximately $26.2 million, and closing of the offering is slated to occur on or about March 29, 2019.

Near-term Catalysts:

-- File an Investigational New Drug application with the FDA for SNDX-5613 in the second quarter of 2019, with the initiation of a Phase 1 clinical trial in a defined subset of acute leukemias patients expected to follow. -- Initial results from phase I dose escalation trial of SNDX-6352 in patients with chronic graft versus host disease (cGVHD) are expected in the second half of the year. -- Identify a recommended phase II dose and schedule for SNDX-6352 monotherapy and in combination with IMFINZI, AstraZeneca's human monoclonal antibody directed against PD-L1, in the second quarter of 2019.

6. WellCare Health Plans Inc. (WCG)

Gained 12.34% to close Wednesday's trading at $259.81.

News: The Company is all set to be acquired by Centene Corp. (CNC) in cash and stock transaction for $305.39 per share or a total enterprise value of $17.3 billion.

The combined company will have approximately 22 million members across all 50 states.