Today's Top 5 Losers In Healthcare Sector (NERV, NLNK, CYCN…)

(RTTNews) - The following are some of the healthcare stocks that posted the biggest percentage decline on Tuesday.

1. Minerva Neurosciences Inc. (NERV)

Minerva Neurosciences is a clinical-stage biopharmaceutical company focused on developing innovative therapies to treat unmet medical needs of central nervous system (CNS) disorders.

Lost 26.32% to close Tuesday's (Oct.1) trading at $5.71.

News: The Company announced that patient recruitment in its phase III trial of Roluperidone to treat negative symptoms in schizophrenia has been disrupted due to a cyber-attack on one of its external contractors.

Enrollment in the study is now expected to be completed at approximately year-end and top-line results are expected to be available in the first half of 2020.

The Company also provided an update on its clinical programs of MIN-117 and Seltorexant.

MIN-117: Patient screening has been completed in the Phase 2b trial of MIN-117 in moderate to severe major depressive disorder (MDD). Top-line results are expected in the fourth quarter of 2019.

Seltorexant is under a phase II trial for adjunctive treatment of patients suffering from Major Depressive Disorder. The primary endpoint was discontinuation of therapy, due to all causes, over 6 months, and this trial was intended primarily to generate data to assist with the planning of Phase 3 studies and was not powered to detect statistical significance.

Seltorexant showed a quantitative advantage in the number of discontinuations due to all causes, with 41% discontinuation compared to 47% in the comparator Quetiapine XR arm. As expected, there was not a statistical separation between the two treatment arms.

The results of this study, taken with the results of the two previous studies (MDD2001 in MDD patients and ISM2005 in patients with insomnia), will help to define a Phase 3 clinical development program for Seltorexant that potentially will encompass both MDD and insomnia, the Company noted.

2. NewLink Genetics Corporation (NLNK)

Lost 22.01% to close Tuesday's trading at $1.24.

News: NewLink has entered into a definitive merger agreement with Lumos Pharma Inc., a private clinical-stage biopharmaceutical company focused on the development and commercialization of therapeutics for rare diseases.

Immediately following the closing of the merger, Lumos Pharma will become a wholly-owned subsidiary of NewLink, and NewLink will be renamed "Lumos Pharma, Inc." and will trade on Nasdaq under the symbol "LUMO. The transaction is anticipated to close in the first quarter of 2020.

3. Surface Oncology Inc. (SURF)

Surface Oncology is an immuno-oncology company developing next-generation antibody therapies focused on the tumor microenvironment.

Lost 17.61% to close Tuesday's trading at $1.17.

News: No news

Clinical Trials & Near-term Catalysts:

-- The Company's lead product candidate is SRF373, also known as NZV930, under phase I testing as a single agent and in combination with other cancer immunotherapies. This compound is licensed to Novartis. -- Preparations are underway to file Investigational New Drug applications for SRF617 and SRF388 in Q4 of 2019.

4. Axsome Therapeutics Inc. (AXSM)

Axsome Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders.

Lost 17.44% to close Tuesday's trading at $16.71.

News: No news

Clinical Trials & Near-term Catalysts:

-- A phase III trial of AXS-05 in patients with treatment-resistant depression, dubbed STRIDE-1, is underway, with top-line data due in the second half of 2019. -- A phase III trial of AXS-05 in major depressive disorder, dubbed GEMINI, is ongoing and top-line data expected in the second half of 2019. -- A phase III trial of AXS-07 in the acute treatment of migraine, dubbed MOMENTUM, is underway, and top-line results anticipated in the second half of 2019. -- A phase II trial of AXS-12 in narcolepsy, dubbed CONCERT, is ongoing, with top-line data expected in the second half of 2019. -- A phase II/III trial of AXS-05 in agitation associated with Alzheimer's disease, dubbed ADVANCE-1, is underway. Top-line results from this study are expected in the first half of 2020.

5. Cyclerion Therapeutics Inc. (CYCN)

Cyclerion Therapeutics is a clinical-stage biopharmaceutical company focused on the development of soluble guanylate cyclase (sGC) stimulators for the treatment of serious and orphan diseases.

Lost 16.50% to close Tuesday's trading at $10.12.

News: No news

Clinical Trials & Near-term Catalysts:

** The Company's lead asset is Praliciguat, which is under two phase II studies for diabetic nephropathy and heart failure with preserved ejection fraction (HFpEF). The topline results from both the trials are expected in Q4 2019. ** A phase II study of Olinciguat in patients with sickle cell disease, dubbed STRONG SCD, is underway, with data readout anticipated in mid-2020. ** A phase I study of IW-6463, a central nervous system (CNS) penetrant sGC stimulator in development for serious neurodegenerative diseases, is ongoing, with data readout expected in Q4 2019.