CNAT Rises On Trial Data, WMGI Boosts Forecast, RMTI Pays Price For Launch Delay

(RTTNews) - Shares of Conatus Pharmaceuticals Inc. (CNAT) were up over 16% in extended trading on Wednesday, following positive top-line results from the 3-month, second stage of the company's phase II trial of Emricasan in patients with liver cirrhosis.

According to the trial results, there were continued directional improvements in key measures of liver function.

The top-line results from the three-month, first stage of the trial were released in January, which were also positive.

CNAT closed Wednesday's trading at $2.72, up 1.49%. in after hours, the stock was up 16.18% to $3.16.

Eli Lilly and Co.s (LLY) biologics license application seeking approval of Olaratumab, in combination with chemotherapy drug Doxorubicin, for the potential treatment of people with advanced soft tissue sarcoma not amenable to curative treatment with radiotherapy or surgery has been granted Priority Review by the FDA.

The BLA submission for Olaratumab was based upon the results from a pivotal phase II trial, and was completed in the first quarter of 2016.

The FDA decision date is not disclosed.

LLY closed Wednesday's trading at $74.87, down 1.81%.

Novavax Inc. (NVAX) has a couple of catalysts to watch out for in the coming months, the outcomes of which can swing the stock price.

The company is on track to announce top-line data from its phase III trial of its respiratory syncytial virus F-protein nanoparticle vaccine candidate in older adults, dubbed Resolve, in the third quarter of 2016.

A phase II rollover trial of respiratory syncytial virus F-protein nanoparticle vaccine candidate in older adults is also underway - with topline data expected in the second half of this year.

NVAX closed Wednesday's trading at $4.78, down 4.97%.

Shares of Rockwell Medical Inc. (RMTI) plunged more than 14% on Wednesday after the company said that it will be able to launch its low-cost generic active vitamin D drug Calcitriol only in the third quarter of this year due to a manufacturing issue encountered by its contract manufacturer.

Calcitriol (active vitamin D) injection is indicated in the management of hypocalcemia in patients undergoing chronic renal dialysis.

The company's Calcitriol was approved by the FDA in June 2014, and at that time it had said that low-cost generic active vitamin D drug would be launched by the end of that year - i.e. 2014-end.

RMTI closed Wednesday's trading at $7.64, down 14.64%.

Medical device company Wright Medical Group N.V. (WMGI) has increased its financial outlook for full year 2016 backed by the strength of its core upper extremities and lower extremities businesses, plus its ability to execute on cost synergies ahead of schedule.

For full year 2016, the company now expects net sales to range between $705 million and $715 million compared to its previous forecast range of $695 million to $705 million.

The Non-GAAP Adjusted EBITDA range for full year 2016 is now pegged at $30 million to $35 million. Earlier the company was expecting Non-GAAP Adjusted EBITDA in the range of $20.0 million to $30.0 million for the year.

WMGI closed Wednesday's trading at $17.99, down 1.48%.