SYN Tumbles To New Low, ASNS Down 27% This Month, INNT On Watch

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

1. Synthetic Biologics Inc. (SYN)

Synthetic Biologics is a late-stage clinical company developing therapeutics that preserve the microbiome to protect and restore the health of patients.

Lost 19.90% to close Monday's (Aug 13) trading at $3.14.

News: The Company's common stock began trading on a 1:35 reverse stock split-adjusted basis on August 13, 2018.

Near-term Catalysts:

An End-of-Phase 2 meeting with the FDA to solidify the remaining elements of the planned phase III trial of SYN-004 for the prevention of C. difficile infection is anticipated in the third quarter of 2018.

Initiate phase III trial of SYN-004 in 2H 2019.

2. Arsanis Inc. (ASNS)

Lost 19.03% to close Monday's trading at $1.83.

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

Net loss for the recent second quarter was $12.1 million or $0.85 per share compared with a net loss of $5.7 million or $11.13 per share for the second quarter of 2017. As of June 30, 2018, the Company had cash and cash equivalents of $49.9 million.

Arsanis currently estimates that it will incur total expenses relating to the reduction in workforce of approximately $0.6 million, which is comprised of notice and severance payments. These charges are expected to be recorded in the third and fourth quarters of 2018.

Recent events:

-- On August 10, the Company announced its plan of eliminating 19 positions, representing approximately 44% of its workforce. The implementation of the reduction in workforce is expected to be completed by the fourth quarter of 2018. -- On June 28, the Company announced the discontinuation of its Phase 2 clinical trial of ASN100 for the prevention of S. aureus pneumonia in high-risk, mechanically ventilated patients due to futility, sending the stock down over 78% to $3.95.

3. Innovate Biopharmaceuticals Inc. (INNT)

Innovate is a clinical stage biotechnology company developing novel medicines for autoimmune and inflammatory diseases with unmet needs.

Lost 14% to close Monday's trading at $4.67.

News: No news

Pipeline:

-- INN-202 entering Phase 3 for the treatment of celiac disease (CeD) with Fast Track designation -- INN-217 entering Phase 1/2 for nonalcoholic steatohepatitis (NASH) alone and/or in combination with other agents -- INN-289 entering Phase 1 for a subset of Crohn's disease (CD) -- INN-108 entering Phase 2 for inflammatory bowel disorders, mild to moderate ulcerative colitis (UC), and a GI orphan disease in a convenient liquid formulation -- INN-329 entering Phase 3 for magnetic resonance cholangiopancreatography (MRCP)

Recent events:

-- On July 11, the Company made a SEC filing related to the proposal of disposition from time to time of up to 13.99 million shares of its common stock, up to an aggregate maximum amount of $175 million.

As part of the 2018 Russell indexes reconstitution, the Company was added as a member of the broad-market Russell 3000, 2000 and Microcap Indexes, effective June 25, 2018.

Upcoming event:

The Company is slated to host clinical and scientific update event on September 6, 2018.

4. Sonoma Pharmaceuticals Inc. (SNOA)

Sonoma is a specialty pharmaceutical company that develops and markets unique and effective solutions for the treatment of dermatological conditions and advanced tissue care.

Lost 13.91% to close Monday's trading at $1.98.

News: No news

Recent event:

On August 8, the Company announced financial results for the first quarter FY 2019 ended June 30, 2018.

Total revenue for the first quarter ended June 30, 2018 was $4.4 million, up 14% when compared to $3.8 million for the same period last year. Net loss for the recent first quarter narrowed to $3.46 million or $0.55 per share from $3.51 million or $0.82 per share in the year-ago quarter.

As of June 30, 2018, Sonoma had cash and cash equivalents of $7.7 million.

5. XOMA Corp. (XOMA)

Lost 12.15% to close Monday's trading at $16.19.

News: No news

Recent event:

On August 7, the Company announced second quarter 2018 financial results.

Net loss for the second quarter of 2018 was $1.9 million, compared to net income of $0.3 million for the second quarter of 2017. Total revenue in the recent second quarter declined to $2.25 million from $10.89 million in the year-earlier quarter. On June 30, 2018, XOMA had cash and cash equivalents of $38.7 million.

Upcoming events:

The Company is scheduled to make a presentation at:

-- 2018 Wedbush PacGrow Healthcare Conference on Tuesday, August 14, 2018, at 3:40PM ET in New York, New York; and, -- 2018 Southern California Investor Conference on Thursday, August 23, 2018, at 10:30AM PT in Newport Beach, California.