Fresenius Medical Trims Outlook, Krystal Loses Some Shine, TRVN On Watch

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

1. Rexahn Pharmaceuticals Inc. (RNN)

Lost 29.34% to close Wednesday's (Oct.17) trading at $1.18.

News: The Company announced that it has entered into definitive agreements with institutional investors to purchase approximately 5.77 million shares of its common stock and warrants exercisable for up to approximately 5.77 million shares of its common stock for gross proceeds of approximately $7.5 million.

Recent event:

On August 21, the Company announced that it has entered into a clinical trial collaboration agreement with Merck to evaluate the combination of Rexahn's RX-5902 and Merck's KEYTRUDA in a Phase 2 trial in patients with metastatic triple negative breast cancer. Rexahn will sponsor the study.

2. Auris Medical Holding AG (EARS)

Lost 20.95% to close Wednesday's trading at $1.17. The stock had gained 117% in the last 3 days.

News: The Company announced positive results from its second Phase 1 trial evaluating intranasal betahistine in healthy volunteers.

The intranasal betahistine program includes AM-125 for the treatment of vertigo, and AM-201 for the treatment of antipsychotic-induced weight gain and somnolence.

The phase I study results announced today have confirmed significantly higher bioavailability and favorable safety profile.

Near-term Catalysts:

-- The Company plans to initiate a phase II trial evaluating AM-125 in patients suffering from acute vertigo following vestibular schwannoma resection, dubbed TRAVERS, in the first quarter of 2019. -- Conduct a phase 1 pharmacokinetic/pharmacodynamic study in healthy volunteers to evaluate AM-201 in the prevention of olanzapine-induced weight gain in the first quarter of 2019.

Also in the pipeline are two phase III programs - AM-111 for acute inner ear hearing loss, and Keyzilen (AM-101) for acute inner ear tinnitus.

3. Fresenius Medical Care AG & Co. KGaA (FMS)

Lost 16.81% to close Wednesday's trading at $41.48.

News: The Company announced preliminary results for the third quarter and trimmed its outlook for fiscal year 2018.

For the third quarter, the Company expects revenue to drop 6%, and net income to decline 8% from the year-ago comparable quarter.

Looking ahead to full year 2018, the Company has trimmed its net income growth on a comparable basis to 11% to 12%, and revenue growth to 2% to 3%. Earlier, the Company was expecting net income growth of 13% to 15%, and revenue growth of 5% to 7%.

4. Trevena Inc. (TRVN)

Lost 15.60% to close Wednesday's trading at $0.90.

News: No news

Recent event:

On October 11, 2018, an FDA panel, which reviewed the Company's New Drug Application for Oliceridine, voted 8 against, and 7 in favor of its approval.

The Company is seeking approval of Oliceridine for the management of moderate to severe acute pain in adult patients for whom an intravenous (IV) opioid is warranted. The FDA is not bound by the Advisory Committee's recommendations but takes its advice into consideration when making its decision, which is slated for November 2, 2018.

5. Krystal Biotech Inc. (KRYS)

Lost 13.42% to close Wednesday's trading at $21.41.

News: The Company announced it has commenced an underwritten public offering of $60.0 million of its common stock.

Recent event:

On October 15, 2018, the Company announced positive interim results from its ongoing placebo-controlled phase I/II clinical trial of KB103 to treat dystrophic epidermolysis bullosa, or DEB.

To know more about KRYS, please visit our "In the Spotlight" column.