XOMA Shines, PTGX Awaits Data, SELB Implodes, No Stopping NKTR

(RTTNews) - The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of November 7, 2017.

GAINERS

1. XOMA Corp.(XOMA)

Gained 18.31% to close Tuesday's (Nov.7) trading at $27.59.

News: The Company reported better-than-expected third quarter 2017 financial results.

Net income for the third quarter of 2017 was $26.3 million or $1.98 per share on total revenue of $36.18 million. Analysts polled by Thomson Reuters expected the Company to report a loss of $0.81 per share and revenue of $690 thousand. The increase in revenues for the third quarter of 2017 was due primarily to upfront payments received relating to the Company's license agreements with Novartis in August 2017.

In the third quarter of 2016, the Company had incurred a net loss of $12.5 million or $2.08 per share on revenue of $635 thousand.

2. Nektar Therapeutics (NKTR)

Gained 10.54% to close Tuesday's trading at $26.84.

News: The Company announced solid Q3, 2017 financial results.

Net income in the third quarter of 2017 was $60.9 million or $0.37 per share compared to a net loss of $43.2 million or $0.32 per share in the third quarter of 2016. Revenue in the recent third quarter surged to $152.9 million from $36.3 million in the comparable year-ago quarter.

Analysts polled by Thomson Reuters expected the Company to earn $0.17 per share on revenue of $114.62 million.

Revenue in 2017 included recognition of $127.6 million of the $150.0 million upfront payment from Nektar's collaboration with Eli Lilly & Co. for the development and commercialization of NKTR-358.

3. Celldex Therapeutics Inc. (CLDX)

Gained 10.08% to close Tuesday's trading at $2.62.

News: The Company reported business and financial highlights for the third quarter ended September 30, 2017.

Near-term catalysts:

-- Top-line data from phase IIb study of Glembatumumab vedotin in patients with metastatic triple negative breast cancers, dubbed METRIC, is expected to be available in the second quarter of 2018, but it could occur earlier or later based on the rate of events in the study. -- Enrollment in phase II portion of Varlilumab/Opdivo combination in cohorts of colorectal cancer, ovarian cancer, head and neck squamous cell carcinoma, renal cell carcinoma and glioblastoma are expected in the first quarter of 2018. --Initiate an open-label phase II study of CDX-3379 in combination with Erbitux in approximately 30 patients with recurrent/metastatic head and neck squamous cell cancer whose disease is resistant to Erbitux by year-end.

4. Protagonist Therapeutics Inc. (PTGX)

Gained 8.57% to close Tuesday's trading at $15.97.

News: The Company reported improved Q3, 2017 financial results.

Net loss attributable to stockholders narrowed to $4.82 million or $0.29 per share on collaboration & license revenue of $8.78 million. This compared with a net loss attributable to stockholders of $7.37 million or $0.87 per share and nil revenue in the year-ago quarter.

Near-term catalysts:

-- Final top-line results from a phase 1 clinical study of PTG-300 in normal healthy volunteers are anticipated this quarter (Q4, 2017). PTG-300 is being developed as a potential treatment for patients with chronic iron overload in rare diseases such as beta-thalassemia. --Interim futility analysis of phase 2b trial of PTG-100 in ulcerative colitis patients is expected in early 2018 - with top-line results anticipated for the second half of 2018. -- PTG-200, which is being co-developed by Janssen Biotech, for inflammatory bowel disease is expected to enter Phase 1 clinical testing this quarter.

LOSERS

1. Selecta Biosciences Inc. (SELB)

Lost 54.02% to close Tuesday's trading at $10.36.

News: The Company presented patient data from its ongoing phase II trial SEL-212 to treat severe gout patients and resolve their debilitating symptoms, including flares and gouty arthritis.

SEL-212 consists of SVP-Rapamycin co-administered with pegsiticase.

According to the Company, dosing of patients in the control cohorts receiving pegsiticase alone was stopped early due to a loss of clinical activity caused by the immunogenicity of the enzyme. Clinical activity was lost by Week 12 in the majority of patients receiving pegsiticase in combination with the 0.05 mg/kg dose of SVP-Rapamycin.

In mid SVP-Rapamycin dose cohorts, a majority of patients maintained clinical activity through Week 12 when receiving SEL-212.

Dosing of patients in the higher SVP-Rapamycin dose cohorts is underway.

The Company added that roughly 24 percent of patients receiving SEL-212 reported a gout flare during their first month of the trial. This is followed by a decline in flare rates during the remainder of the therapy. By comparison, 50% of patients reported a flare during the first month in the control cohorts receiving pegsiticase alone before treatment was stopped due to loss of efficacy and safety.

The Company plans to meet up with the FDA during the first half of 2018 and initiate its phase III program of SEL-212 in 2018.

2. Five Prime Therapeutics Inc. (FPRX)

Lost 40.90% to close Tuesday's trading at $25.86.

News: The Company will be presenting the first data from its phase 1a/1b clinical trial evaluating the immunotherapy combination of Cabiralizumab with Opdivo in multiple tumor types on Wednesday, November 8, 2017, at 8:00 a.m. (ET).

Jefferies analyst Eun Yang has commented that the "data are "not as strong as we like to see," but compares reasonably to chemo combo in second-line pancreatic cancer.

3. Veracyte Inc. (VCYT)

Lost 21.43% to close Tuesday's trading at $6.49.

News: The Company reported wider loss and lower revenue for Q3, 2017, and trimmed its revenue outlook for the year.

Net loss for the third quarter of 2017 widened to $7.05 million or $0.21 per share on revenue of $17.52 million. This compared with a loss of $5.64 million or $0.20 per share and revenue of $18.6 million in the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to incur a loss of $0.23 per share on revenue of $19.55 million.

Looking ahead, the Company trimmed its 2017 annual revenue guidance range to $71 to $72 million from its prior forecast of $76 to $84 million range.

4. Voyager Therapeutics Inc. (VYGR)

Lost 19.11% to close Tuesday's trading at $13.38.

News: The Company has commenced an underwritten public offering of $75 million of shares of its common stock. The underwriters will have a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering.