MOH Boosts Outlook, NBIX Hits All-time High, ACER To Submit Its First NDA In Q4

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

1. Curis Inc. (CRIS)

Curis is a biotechnology company focused on the development and commercialization of therapeutics for the treatment of cancer.

Gained 23.57% to close Wednesday's (Aug 1) trading at $1.94.

News: No news

Near-term Catalyst:

The Company is scheduled to release its second quarter 2018 financial results on Thursday, August 2, 2018, before the U.S. financial markets open.

2. Acer Therapeutics Inc. (ACER)

Acer is a pharmaceutical company focused on the acquisition, development and commercialization of therapies for serious rare and ultra-rare diseases.

Gained 18.28% to close Wednesday's trading at $21.29.

News: The Company has offered to sell 2.22 million shares of its common stock at a price of $18.00 each. The gross proceeds from the offering are expected to be approximately $40.0 million. The offering is expected to close on or about August 3, 2018.

The underwriters in the offering have been granted a 30-day option to purchase up to 333,333 additional shares of common stock.

Pipeline:

The lead candidate is EDSIVO for treatment of vascular Ehlers-Danlos syndrome. Also in the pipeline is ACER-001 for treatment of Urea Cycle Disorders (UCD) and Maple Syrup Urine Disease. ACER-001 is a taste-masked, immediate release formulation of sodium phenylbutyrate (marketed as Buphenyl).

Near-term Catalyst:

Submit EDSIVO NDA for Ehlers-Danlos syndrome in early fourth quarter of this year. Ehlers-Danlos syndrome (EDS) is a group of hereditary disorders of connective tissue.

3. Molina Healthcare Inc. (MOH)

Gained 17.15% to close Wednesday's trading at $121.94.

News: The Company reported strong Q2 results and increased fiscal 2018 guidance.

Net income for the second quarter of 2018 was $202 million or $3.02 per share on total revenue of $4.88 billion. This compared with a net loss of $230 million or $4.10 per share and total revenue of $4.99 billion in the second quarter of 2017.

Looking ahead to fiscal 2018, the Company now expects net income to range between $471 million to $484 million or $7.15 per share to $7.35 per share compared to its earlier forecast of $272 million or $306 million or $4.00 to $4.50 per share. The total revenue for 2018 is now anticipated to be roughly $18.8 billion, up from its earlier guidance of about $18.7 billion.

4. Viveve Medical Inc. (VIVE)

Gained 16.83% to close Wednesday's trading at $2.36.

News: No news

Recent event:

On July 10, the Company announced preliminary financial results for the second quarter ended June 30, 2018.

Estimated total product revenue for the three months ended June 30, 2018, is expected to be approximately $5.5 million, representing a 79% increase over total product revenue for the quarter ended June 30, 2017.

Looking ahead to full year 2018, the Company expects revenue to range between $22 million and $24 million. Revenue in 2017 was $15.3 million.

Near-term Catalyst:

The Company is slated to report its second quarter 2018 financial results on August 9, 2018.

5. Neurocrine Biosciences Inc. (NBIX)

Gained 13% to close Wednesday's trading at $113.55. The stock touched an all-time high of $116.91 in intraday trading.

News: The Company announced its financial results for the quarter ended June 30, 2018.

For the second quarter of 2018, the Company reported a net loss of $5.9 million, or $0.07 loss per share, compared to a net loss of $60.0 million, or $0.68 loss per share, for the same period in 2017.

Revenue, which includes net product sales for INGREZZA, was $96.9 million in the recent second quarter, up from $6.3 million in the comparable year-ago quarter.

Near-term Catalysts:

The Company's only marketed drug INGREZZA was approved by the FDA in April 2017 for the treatment of adults with tardive dyskinesia.

-- INGREZZA is also being investigated in a Phase IIb study in pediatric patients with Tourette syndrome, dubbed T-Force GOLD. Top-line data from this study are expected in late 2018. -- A withdrawal study of INGREZZA in pediatric patients with Tourette syndrome is underway, with top-line data expected in late 2019. -- File NDA for Opicapone during the first half of 2019. Opicapone is a once-daily, peripherally-acting, highly-selective catechol-O-methyltransferase inhibitor, being developed as an adjunct therapy to preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease and motor fluctuations. -- A phase II proof-of-concept study of NBI-74788 in adult males and females with classic, 21-hydroxylase deficiency Congenital Adrenal Hyperplasia is ongoing, with data expected to be available later in 2018.