MEDP Hits All-time High, CSII Heartened, CHEK Awaits Data In Q3

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

1. Medpace Holdings Inc. (MEDP)

Medpace is a clinical contract research organization (CRO) providing Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries.

Gained 30.38% to close Tuesday's (Jul 31) trading at $61.37.

News: The Company reported stellar results for the second quarter ended June 30, 2018.

Adjusted net income for the second quarter of 2018 increased to $24.6 million or $0.67 per share on net service revenue of $117.8 million. This compared with adjusted net income of $15.5 million or $0.38 per share and net service revenue of $94.6 for the comparable prior-year period.

Looking ahead to full year 2018, the Company expects adjusted net income to be in the range of $92.0 million to $96.0 million or $2.51 to $2.62 per share, and net service revenue to range between $461 million and $473 million. Adjusted net income was $60.5 million and net service revenue was $386.5 million in 2017.

2. Check-Cap Ltd. (CHEK)

Check-Cap is a clinical stage medical diagnostics company engaged in the development of C-Scan, an ingestible capsule-based device for preparation-free colorectal cancer screening.

Gained 16.05% to close Tuesday's trading at $3.76.

News: The Company reported financial results for the second quarter ended June 30, 2018, and provided an update on its clinical programs.

Net loss narrowed to $2.7 million or $0.70 per share in the three months ended June 30, 2018, from $2.8 million or $2.02 per share in the same period in 2017.

Recent event:

A 1-for-12 reverse share split was implemented on April 4, 2018.

Near-term Catalysts:

-- Interim data readout from post CE Mark approval study using C-Scan device version 3 is expected in 3Q18. -- The Company continues to make progress on manufacturing collaboration with GE Healthcare towards U.S. pilot study initiation. Manufacturing line and U.S. pilot study initiation remain on target in the fourth quarter 2018.

3. SeaSpine Holdings Corp. (SPNE)

SeaSpine is a medical technology company focused on surgical solutions for the treatment of spinal disorders.

Gained 13.96% to close Tuesday's trading at $13.96.

News: The Company reported Q2 financial results.

Net loss for the second quarter of 2018 was $7.4 million or $0.50 per share compared to a net loss of $8.0 million or $0.68 per share for the same period of the prior year. Total revenue for the recent second quarter was $36.4 million, a 6.5% increase compared to the same period of the prior year.

SeaSpine expects full-year 2018 revenue to be in the range of $136 million to $139 million, reflecting growth of 3.2% to 5.5% over full-year 2017 revenue.

4. Cardiovascular Systems Inc. (CSII)

Gained 13.19% to close Tuesday's trading at $37.93. The stock touched a two-year high of $39.50 in intraday trading.

News: The Company reported stellar financial results for its fiscal fourth quarter, ended June 30, 2018.

Fourth-quarter net income surged to $3.7 million or $0.11 per share from $0.8 million or $0.02 per share in the prior-year period. Revenue in the recent fourth quarter was $59.2 million, up from $52.9 million in the fourth quarter last year.

Looking ahead to fiscal 2019 ending June 30, 2019, the Company anticipates revenue in a range of $240 million to $250 million. Revenue in fiscal year 2018 was $217.0 million.

5. Achaogen Inc. (AKAO)

Gained 13.19% to close Tuesday's trading at $37.93.

News: No news

Recent events:

On July 26, the Company announced that it is eliminating approximately 80 positions, or 28% of its workforce to improve cost structure and focus corporate priorities to reduce overall capital needs.

On June 25, the FDA approved the Company's drug Zemdri for the treatment of complicated urinary tract infections.

Near-term Catalysts:

-- The Company is slated to report second quarter 2018 earnings on August 6, 2018. -- File the Marketing Authorization Application for Zemdri in the European Union in the second half of this year.