6 Top Losers In Healthcare Sector (OTLK, WVE, PHAS…)

(RTTNews) - The following are some of the pharma/biotech stocks that posted the biggest percentage decline today.

1. Outlook Therapeutics Inc. (OTLK)

Outlook Therapeutics is a clinical-stage biopharmaceutical company developing a drug for the treatment of wet age-related macular degeneration.

Lost 45.08% to close Wednesday's (Apr.10) trading at $1.73.

News: The Company has offered to sell 10.34 million shares of its common stock, 15-month warrants to purchase up to an aggregate of 10.34 million shares of common stock, and 5-year warrants to purchase up to an aggregate of 10.34 million shares of common stock at a combined public offering price of $2.75.

The warrants will be exercisable immediately at an exercise price per share equal to $2.90 per share, subject to adjustment. The offering is expected to close on April 12, 2019, subject to customary closing conditions.

Near-term Catalyst:

-- Initiate enrollment of U.S. patients for the phase III trial of ONS-5010 for wet age-related macular degeneration in Q2, 2019. Patient enrollment for the study is already underway in Australia and New Zealand.

2. Wave Life Sciences Ltd. (WVE)

Wave Life Sciences is a clinical-stage genetic medicines company.

Lost 18.78% to close Wednesday's trading at $33.91.

News: The Company announced that it now expects topline data readout from its ongoing PRECISION-HD program, which consists of two global Phase 1b/2a clinical trials evaluating investigational therapies WVE-120101 and WVE-120102 for patients with Huntington's disease, by the end of the year.

Earlier, the Company was expecting to deliver topline data in the first half of 2019. The data delay is due to slower than anticipated patient enrollment because of the logistics of screening and scheduling across global sites, and is not due to a preclinical or clinical safety finding.

3. PhaseBio Pharmaceuticals Inc. (PHAS)

PhaseBio Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel therapies to treat orphan diseases, with an initial focus on cardiopulmonary disorders.

Lost 11.84% to close Wednesday's trading at $12.88.

News: The Company announced that it has commenced an underwritten public offering of 3 million shares of its common stock. The underwriters have a 30-day option to purchase up to an additional 450,000 shares of common stock at the public offering price, less underwriting discounts, and commissions.

The Company's pipeline includes PB2452, a novel reversal agent for the antiplatelet drug ticagrelor, for the treatment of patients on ticagrelor who are experiencing a major bleeding event or those who require urgent surgery, and PB1046, a once-weekly novel treatment for pulmonary arterial hypertension.

Near-term Catalysts:

-- Initiate a Phase 2a trial of PB2452 in the first half of 2019. -- Data readout from Phase 2a trial of PB2452 in the first half of 2019. -- Initiate Phase 2b trial of PB2452 in the second half of 2019. -- A Phase 2b clinical trial of PB1046 in patients with Pulmonary Arterial Hypertension is underway, with results expected in the first half of 2020.

4. Flexion Therapeutics Inc. (FLXN)

Flexion Therapeutics is focused on developing novel, local therapies for the treatment of patients with osteoarthritis, a type of degenerative arthritis.

Lost 11.43% to close Wednesday's trading at $11.

News: No news

Marketed product:

The Company's lead product is Zilretta, which received FDA approval in October 2017, for the management of osteoarthritis pain of the knee. For full-year 2019, Flexion expects ZILRETTA to bring home sales of $65 million to $80 million.

Pipeline & Near-term Catalysts:

-- A supplemental New Drug Application seeking to revise the product label for ZILRETTA to allow for repeat administration is under FDA review - with a decision date set for October 14, 2019. -- Zilretta is also being tested in patients with osteoarthritis of the shoulder or hip. A phase II study, dubbed SHIP, in this indication is underway. This study is expected to be completed in 2020.

5. AVROBIO Inc. (AVRO)

AVROBIO is a clinical-stage gene therapy company developing gene therapies to potentially cure rare diseases like Fabry disease, Gaucher disease, Cystinosis, and Pompe disease.

Lost 10.48% to close Wednesday's trading at $22.09.

News: No news

Pipeline & Near-term Catalysts:

-- The Company's lead drug candidate is AVR-RD-01, an ex vivo lentiviral gene therapy being investigated as single-dose therapy for Fabry disease in a phase II trial. -- An investigator-sponsored Phase 1/2 clinical trial of AVR-RD-04 in cystinosis is expected to begin in the second half of 2019.

6. Enlivex Therapeutics Ltd. (ENLV)

Lost 10.63% to close Wednesday's trading at $9.60.

News: No news

Recent events:

-- Enlivex Therapeutics Ltd is the result of the merger of publicly-traded Bioblast Pharma Ltd. with Enlivex Therapeutics Ltd., a VC-funded privately-held immunotherapy company. The merger agreement was executed on November 19, 2018. -- Enlivex Therapeutics was listed to the NASDAQ on March 26, 2019. -- On April 8, the Company announced the final closing of a private placement financing of ordinary shares priced at $12.25 per share, raising a total of approximately $8.4 million.