(RTTNews) - The following are some of the healthcare stocks that posted the biggest percentage decline on Tuesday.
1. Diffusion Pharmaceuticals Inc. (DFFN)
Diffusion Pharmaceuticals is a clinical-stage company focused on improving the effectiveness of standard-of-care therapies for life-threatening treatment-resistant solid cancerous tumors.
Lost 24.30% to close Tuesday's (Oct.29) trading at $0.82.
News: No news
Clinical Trials & Near-term Catalysts:
-- A phase III study of Trans Sodium Crocinate, or TSC, to target inoperable glioblastoma multiforme brain cancer, dubbed INTACT, is underway. In July of this year, the Data Safety Monitoring Board (DSMB) recommended the continuation of the study. Diffusion is seeking a partner to continue the development of TSC in glioblastoma multiforme. -- An on-ambulance phase II clinical trial testing trans sodium crocetinate (TSC) for the treatment of acute stroke, dubbed PHAST-TSC, enrolled the first patient early this month. The trial is designed to enroll 160 patients, and results are expected to be available in just under two years.
Diffusion had cash and cash equivalents of $8.4 million as of June 30, 2019.
2. Tetraphase Pharmaceuticals Inc. (TTPH)
Tetraphase Pharma is a biopharmaceutical company developing novel tetracyclines for serious and life-threatening conditions. The Company's lead product XERAVA is approved for the treatment of complicated intra-abdominal infections by the FDA and the European Medicines Agency.
Lost 14.82% to close Tuesday's trading at $3.62.
News: No news
On September 27, 2019, the Company implemented a 1-for-20 reverse stock split of its common stock.
The Company ended June 30, 2019, with cash and cash equivalents of $71.0 million.
3. Avinger Inc. (AVGR)
Avinger is a commercial-stage medical device company that designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease, or PAD.
Lost 14.29% to close Tuesday's trading at $1.26.
News: No news. The stock has given back some of what it gained on Monday.
On October 9, 2019, the Company announced the launch of seven new Lumivascular centers during the third quarter, including sites in the high-volume PAD markets of Florida, Georgia, and Arizona. The Company's Lumivascular platform currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris family of atherectomy devices.
4. Kala Pharmaceuticals Inc. (KALA)
Kala is a biopharmaceutical company focused on the development and commercialization of therapeutics, with an initial focus on the treatment of eye diseases.
Lost 11.90% to close Tuesday's trading at $3.48.
News: No news
Pipeline & Near-term Catalysts:
The Company's lead drug candidate is KPI-121 0.25% for the temporary relief of the signs and symptoms of dry eye disease.
KPI-121 0.25% was denied approval by the FDA in August of this year, with the Company being asked to submit efficacy data from an additional clinical trial.
The NDA for KPI-121 0.25 included data from one phase II trial and two phase III efficacy and safety trials, STRIDE 1 and STRIDE 2. The third phase III comparing KPI-121 0.25% to placebo in approximately 900 patients with dry eye disease, dubbed STRIDE 3, is underway.
The topline data from the STRIDE 3 trial is expected by the end of 2019, with resubmission of the NDA for KPI-121 0.25% planned during the first half of 2020.
5. Ocugen Inc. (OCGN)
Ocugen is a clinical-stage biopharmaceutical company developing a pipeline of innovative therapies that address rare and underserved eye diseases.
Lost 10.18% to close Tuesday's trading at $1.50.
News: No news
The most advanced product candidate in the pipeline is OCU300, which is under phase III development, for ocular graft versus host disease. Topline results from this study are expected in the second half of 2020.
The Company is slated to release corporate and financial results for the third quarter that ended September 30, 2019, before the open of the U.S. financial markets on Friday, November 8, 2019.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.