(RTTNews) - The following are some of the healthcare stocks that posted the biggest percentage decline on Monday.
1. Neurotrope Inc. (NTRP)
Neurotrope is a clinical-stage biotech company developing targeted therapeutics for neurodegenerative diseases like Alzheimer's and cognitive diseases and dysfunctions, such as Fragile X. The lead product candidate is Bryostatin-1, a natural product isolated from a marine invertebrate organism, a bryozoan called Bugula neritina, which is being evaluated as a potential treatment for Alzheimer's.
Lost 77.27% to close Monday's (Sep.9) trading at $1.0.
News: The Company's confirmatory phase II study of Bryostatin-1 in moderate to severe Alzheimer's did not achieve statistical significance on the primary endpoint, which was change from baseline to Week 13 in the Severe Impairment Battery (SIB) total score.
2. Akero Therapeutics Inc. (AKRO)
Akero Therapeutics is a biotechnology company developing therapies for metabolic diseases like NASH, a serious type of non-alcoholic fatty liver disease [NAFLD].
Lost 13.76% to close Monday's trading at $22.37.
News: No news
A phase IIa study of AKR-001 in patients with biopsy-confirmed NASH is underway, with the collection of data for the primary endpoint expected to be completed in the first quarter of 2020.
The Company commenced trading of shares on the Nasdaq Global Select Market under the ticker symbol "AKRO" on June 20, 2019, offering its shares at a price of $16. each.
3. ArQule Inc. (ARQL)
ArQule is a biopharmaceutical company engaged in the research and development of targeted therapeutics to treat cancers and rare diseases.
Lost 13.09% to close Monday's trading at $8.10.
News: No news
On August 7, 2019, the Company announced financial results for the second quarter of 2019.
Revenues for the second quarter of 2019 were $0.3 million compared with revenues of $13.7 million for the second quarter of 2018. Looking ahead to full-year 2019, ArQule expects revenue to range between $3 and $5 million. Revenue in 2018 was $25.76 million.
Net loss is expected to range between $40 and $43 million, and net loss per share to range between $(0.35) and $(0.37) for the year 2019. The net loss in 2018 was $15.48 million or $0.16 per share.
4. Cassava Sciences Inc. (SAVA)
Cassava Sciences is a biopharmaceutical company focused on developing novel solutions for Alzheimer's disease.
Lost 11.59% to close Monday's trading at $1.22.
News: The Company's phase IIa study of its lead drug candidate for Alzheimer's disease PTI-125 significantly decreased key biomarkers of neuroinflammation and neurodegeneration in all study patients. Despite the positive results, the shares have taken a hit.
The clinical data support initiation of a Phase 2b study in Alzheimer's in Q3 2019, noted the Company.
Cassava Sciences ended June 30, 2019, with $18.5 million of cash and cash equivalents, and no debt.
5. Repligen Corporation (RGEN)
Repligen is a revenue-generating life sciences company.
Lost 11.66% to close Monday's trading at $82.18.
News: No news
On August 1, 2019, the Company reported financial results for its second quarter of 2019.
Adjusted net income (non-GAAP) for the second quarter of 2019 was $15.3 million or $0.31 per share compared to $6.2 million or $0.14 per share in the second quarter of 2018. Total revenue for the second quarter of 2019 increased to $70.7 million from $47.7 million for the second quarter of 2018.
Looking ahead to 2019, total revenue is projected to be in the range of $264-$268 million and adjusted (non-GAAP) net income is expected to be in the range of $47-$49 million. In 2018, revenue was $194.0 million, and adjusted net income was $33.3 million or $0.73 per share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.