PTI Jumps Over 400% On CF Data, GRTS, YMAB March Ahead, NVS Acquires ECYT

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

1. Proteostasis Therapeutics Inc. (PTI)

Gained 447.62% to close Thursday's (Oct.18) trading at $10.35.

News: The Company announced positive preliminary results from the first three cohorts of its ongoing phase I study of combination therapy doublet, PTI-808 and PTI-801, in subjects with cystic fibrosis.

A dose-dependent improvement in ppFEV1, ie., percentage predicted forced expiratory volume in one second, and sweat chloride concentration was observed across all cohorts, and statistical significance was achieved on all endpoints, according to the Company.

The fourth dosing cohort in the phase I study of the combination therapy doublet of PTI-808 and PTI-801 is ongoing, with data expected in the first quarter of 2019.

Near-term Catalyst:

Preliminary data from a study evaluating a triplet combination of PTI-801, PTI-808 and PTI-428 in cystic fibrosis is expected in the fourth quarter of 2018.

2. Endocyte Inc. (ECYT)

Gained 50.39% to close Thursday's trading at $23.40.

News: The Company is all set to be acquired by Novartis AG (NVS) for $24 per share, or a total equity value of approximately $2.1 billion, in cash.

Completion of the transaction is expected in the first half of 2019, subject to approval by Endocyte stockholders, antitrust and regulatory approvals and other customary closing conditions. Until that time, Endocyte will continue to operate as a separate and independent company.

3. Bioblast Pharma Ltd. (ORPN)

Bioblast is focused on developing clinically meaningful therapies for patients with rare diseases.

Gained 21.97% to close Thursday's trading at $1.61.

Pipeline:

The Company's lead compound is Trehalose, which is being explored in the indications of oculopharyngeal muscular dystrophy (OPMD) and spinocerebellar ataxia type 3 (SCA3). It is under phase II development in the two indications.

Recent event:

On July 26, the Company announced that it is seeking a commercial partner for Trehalose.

4. Gritstone Oncology Inc. (GRTS)

Gained 19.25% to close Thursday's trading at $15.49.

News: No news

Recent event:

On September 28, 2018, the Company went public on the Nasdaq Global Select Market, offering its shares at a price of $15 each.

Pipeline & Near-term Catalyst:

The Company's lead drug candidate is GRANITE-001, which will initially be evaluated in the treatment of common solid tumors, including metastatic non-small cell lung cancer and gastroesophageal, bladder and colorectal cancers, in each case in combination with checkpoint inhibitors.

The investigational New Drug application for GRANITE-001 is expected to be submitted in the second half of 2018, and, upon acceptance, a first-in-human Phase 1/2 trial in combination with checkpoint inhibitors will be initiated.

5. Y-mAbs Therapeutics Inc. (YMAB)

Y-mAbs is a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer.

Gained 12.94% to close Thursday's trading at $22.00.

News: No news

Recent event:

On September 25, 2018, the Company went public on the Nasdaq Global Select Market, offering its shares at a price of $16.00 each.

Pipeline & Near-term Catalysts:

-- Naxitamab for the treatment of pediatric patients with relapsed or refractory, or R/R, high-risk neuroblastoma under pivotal phase III trial. -- Radiolabeled Omburtamab for the treatment of pediatric patients with central nervous system leptomeningeal metastases from neuroblastoma, under pivotal phase III trial.

Submit Biologics License Applications for Naxitamab and Omburtamab in 2019.