(RTTNews.com) - The following are some of today's top gainers in the pharma/biotech sector.
1. Forward Pharma A/S (FWP)
Gained 88.18% to close Tuesday's (May 22) trading at $4.14.
News: No news
The Company has appealed the decision by the Patent Trial and Appeal Board of the United States Patent and Trademark Office in patent interference proceeding with Biogen Inc, relating to Biogen's dimethyl fumarate-based multiple sclerosis drug Tecfidera. The oral argument in this case is scheduled on June 4, 2018. A decision is expected in the third/fourth quarter of 2018.
2. Arcturus Therapeutics Ltd. ( ARCT )
Gained 16.09% to close Tuesday's trading at $7.00.
News: The Company announced that an extraordinary general meeting of shareholders will be held on June 25, 2018 at 10 a.m.
The Board of Directors recommends removal of terminated CEO Joseph Payne from Board of Directors. On February 2, 2018, the Company terminated Joseph Payne as President and Chief Executive Officer.
Payne owns about 13.7% of the issued and outstanding shares in the Company. He had sought Court's intervention to prohibit the attempt of the Arcturus board of directors to undertake a highly dilutive equity financing.
Certain directors were attempting to sell 24.9% of Arcturus' share capital to a single purchaser at a purchase price that was more than 40% below the trading price of Arcturus common shares prior to the termination of Payne.
The Court also found that the board's decision to sell shares was not being undertaken to raise necessary working capital, and that the members of the Arcturus board are motivated by their own self-interests instead of the interests of Arcturus and its shareholders.
3. BeyondSpring Inc. (BYSI)
Gained 15.75% to close Tuesday's trading at $30.50.
News: No news
-- The Company will present positive results of the Phase 2 portion of Study 105, a prospective Phase 2/3 trial of its lead asset, Plinabulin, for the reduction of Docetaxel chemotherapy-induced severe, grade 4 neutropenia, on June 4, 2018. The results from the phase II portion of the trial were reported last December.
-- Announce Phase 3 interim analysis data for Study 105 evaluating Plinabulin + docetaxel for chemotherapy-induced neutropenia, or CIN, in Q4, 2018.
-- Announce topline Phase 2 data for Study 106 evaluating Plinabulin + TAC (Taxotere/Adriamycin/cyclophosphamide) for CIN in late 2018.
-- Announce Phase 3 interim data for Study 103 evaluating Plinabulin + docetaxel for non-small cell lung cancer in 4Q 2018/early 2019.
-- Submit NDA to China Food and Drug Administration for Plinabulin for CIN in late 2018/early 2019.
-- Submit NDA to CFDA for Plinabulin for NSCLC in 1H 2019.
4. NanoString Technologies Inc. (NSTG)
Gained 12.64% to close Tuesday's trading at $13.19.
News: The Company made a presentation at the 2018 UBS Global Heath Care Conference on May 22, 2018.
On May 8, 2018, the Company reported financial results for the first quarter of 2018.
Net loss for the three months ended March 31, 2018 was $19.2 million or $0.75 per share on revenue of $23.1 million. This compared with a net loss of $18.9 million or $0.87 per share and revenue of $18.1 million in the year-ago quarter.
Looking ahead to 2018, the Company expects total revenue of $100 million to $105 million. The revenue in 2017 was $114.9 million.
5. Heat Biologics Inc. (HTBX)
Gained 12.43% to close Tuesday's trading at $1.99.
News: No news
-- Receive $6.9 million in CPRIT (Cancer Prevention Research Institute of Texas) grant funds in Q3, 2018.
-- Interim phase II Non Small Cell Lung Cancer data readout of HS-110 in Q4, 2018.
-- IND filing for first ComPACT trial of HS-130 in NSCLC in Q4, 2018.
-- Enroll first patient in ComPACT trial in Q4, 2018.
-- PTX-35 IND filing in Q1, 2019.
-- Enroll first patient in PTX-35 trial in Q1, 2019.
-- Complete enrollment in Phase 2 NSCLC trial in Q2, 2019.
-- Phase II NSCLC data readout in Q2, 2019.
-- Interim ComPACT data readout in Q2, 2019.
-- Interim PTX-35 data readout in Q3, 2019.
6. Geron Corp. (GERN)
Gained 12.12% to close Tuesday's trading at $4.07.
News: No news
The Company's lead drug candidate is Imetelstat, which is being developed for the potential treatment of hematologic myeloid malignancies. Geron has a deal in place with Janssen, under which Janssen is wholly responsible for the development, manufacturing, seeking regulatory approval for and commercialization of Imetelstat worldwide.
-- A phase 2/3 clinical trial of Imetelstat, dubbed IMerge, in transfusion dependent patients with Low or Intermediate-1 risk myelodysplastic syndromes who have relapsed after or are refractory to prior treatment with an erythropoiesis stimulating agent, is underway.
-- A phase II clinical trial evaluating two doses of Imetelstat in intermediate-2 or high-risk myelofibrosis (MF) patients who are refractory to or have relapsed after treatment with a JAK inhibitor, dubbed IMbark, is ongoing.
-- A protocol-specified primary analysis, which includes an assessment of overall survival, for the IMbark study will begin by the end of the second quarter of 2018.
-- Based on the primary analysis, Janssen will decide whether or not to maintain the license rights and continue the development of Imetelstat in any indication. The decision of Janssen will be known by the end of the third quarter of 2018.
If Janssen takes a positive decision, Geron would receive a $65 million milestone payment at the time of an affirmative Continuation Decision, and would be eligible to receive potential payments of up to $470 million for the achievement of certain development and regulatory milestones, up to $350 million for the achievement of certain sales milestones, and tiered royalties ranging from a mid-teens up to low twenties percentage rate on worldwide net sales of Imetelstat.
7. Quotient Limited (QTNT)
Gained 11.58% to close Tuesday's trading at $6.55.
Quotient is a commercial-stage diagnostics company.
News: No news
The Company is slated to announce financial results for its fourth quarter and fiscal full year ended March 31, 2018, before market open on Tuesday, May 29, 2018.
Total revenue for the fiscal year ending March 31, 2018 is expected to be in the range of $24.1 to $24.6 million. The total revenue for the fiscal year ended March 31, 2017 was $22.2 million.
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