ADXS Falls On Stock Offering, OMER Down 36% In 5 Days, Analyst Downgrades ALKS

(RTTNews) - The following are some of the stocks that lost the largest percentage in price today in the pharma/biotech sector.

1. Advaxis Inc. (ADXS)

Lost 28.29% to close Thursday's (Feb.22) trading at $1.80.

News: The Company has offered to sell 10 million shares of its common stock at a public offering price of $2.00 per share. The offering is expected to close on or about February 26, 2018, subject to customary closing conditions.

The underwriters have been granted a 30-day option to purchase up to 807,697 additional shares of Advaxis common stock at the public offering price, less the underwriting discounts and commissions.

2. Genesis Healthcare Inc. (GEN)

Lost 21.25% to close Thursday's trading at $1.26.

News: No news

Recent events:

-- On February 21, 2018, the Company announced it has secured new financing commitments including a commitment for a new $555 million asset based lending (ABL) facility and an agreement for an amended and expanded term loan. -- On November 17, 2017, the Company was informed that it is not in compliance with the NYSE continued listing standard that requires a minimum average closing price of common stock of $1.00 per share over a consecutive 30 trading-day period.

The Company is, however, in compliance with the NYSE minimum market capitalization threshold of $50 million over a 30 trading-day period. Currently, Genesis' market capitalization is more than double this threshold.

3. Omeros Corp. (OMER)

Lost 14.77% to close Thursday's trading at $9.00. The stock is down 36% in the last 5 trading days.

News: No news

Recent event:

-- On February 15, 2018, the Company announced new results from its ongoing phase II study of OMS721 evaluating patients with hematopoietic stem cell transplant-associated thrombotic microangiopathy (HCT-TMA).

According to the trial results, the median overall survival in HCT-TMA patients treated with OMS721 was 347 days while that of matched historical control was 21 days.

Omeros is scheduled and expects to meet with the FDA and with the European Medicines Agency to discuss the most expeditious path to approval for OMS721 in HCT-TMA.

4. Onconova Therapeutics Inc. (ONTX)

Lost 12.80% to close Thursday's trading at $1.09.

News: No news

Upcoming event:

The Company is scheduled to make a presentation on product stability studies for Rigosertib, its phase III clinical stage product in development for Myelodysplastic Syndromes, on March 18, 2018.

Clinical Trial & Near-term Catalyst:

-- A phase III trial of Rigosertib in higher risk Myelodysplastic Syndromes, dubbed INSPIRE is underway, with top line data expected in 2019.

5. Alkermes plc (ALKS)

Lost 10.51% to close Thursday's trading at $56.55.

News: Jefferies analyst Biren Amin downgraded Alkermes from Buy to Hold with a price target of $66.00.

Near-term Catalysts:

-- The Company's NDA for Aripiprazole Lauroxil NanoCrystal Dispersion for initiation onto ARISTADA for the treatment of schizophrenia is under FDA review, with a decision expected on June 30, 2018. -- The NDA for ALKS 5461 for the adjunctive treatment of major depressive disorder was submitted on January 31, 2018, and the acceptance of the same by the FDA is expected next quarter. -- Topline results from ENLIGHTEN-2, a phase III study evaluating weight gain of ALKS 3831 compared to olanzapine in adult subjects with schizophrenia, are expected in the Fall (September to November). -- Initial data from a phase III study evaluating the gastrointestinal tolerability of ALKS 8700 compared to FDA-approved TECFIDERA, dubbed EVOLVE-MS-2, is expected in mid-2018.