DEPO Building New Specialty Business, FPRX Rebounds, HALO Glows

(RTTNews) - The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of November 8, 2017.

GAINERS

1. Depomed Inc. (DEPO)

Gained 25% to close Wednesday's (Nov.9) trading at $5.70.

News: The Company acquired from Slán Medicinal Holdings Ltd. rights to market specialty drug, Cosyntropin (Synthetic ACTH Depot) in the United States. Cosyntropin is currently under late-stage development.

Cosyntropin has the same activity as natural adrenocorticotropic hormone (ACTH). Presently the U.S. ACTH depot market is served by H.P. Acthar Gel which generated an estimated $1.2 billion in net sales for the twelve-month period ended June 30, 2017.

The U.S. based West Therapeutic Development, a subsidiary of Slán, will submit the NDA for Cosyntropin for the first indication in late 2018. An investigational new drug trial evaluating Cosyntropin in Infantile Spasms is slated to begin in Q1, 2018.

In other news, Depomed reported better-than-expected Q3 earnings on a non-GAAP basis, but missed out on revenue.

2. GenMark Diagnostics Inc. (GNMK)

Gained 20.24% to close Wednesday's trading at $4.93.

News: No news

Recent event:

-- On November 2, the Company reported Q3, 2017 financial results.

Net loss in the recent third quarter widened to $15.41 million or $0.28 per share from $12.05 million or $0.27 per share in the comparable year-ago quarter. Total revenue in the third quarter of 2017 rose to $11.6 million from $10.8 million in the comparable year-ago quarter.

For full year 2017, GenMark expects revenue to range from $51 million to $53 million. Revenue was $49.3 million in 2016.

3. Five Prime Therapeutics Inc. (FPRX)

Gained 17.71% to close Wednesday's trading at $30.44. The stock was down 40.90% on Tuesday and closed that day's trading at $25.86.

News: The Company presented initial data from phase 1a/1b trial of Cabiralizumab/OPDIVO and early efficacy signal in pancreatic cancer.

The data revealed that there was durable clinical benefit in 5 of 31 patients in pancreatic cancer with the combination therapy. An additional 30 patients with pancreatic cancer are being enrolled in the current trial.

4. Pacira Pharmaceuticals Inc. (PCRX)

Gained 16.98% to close Wednesday's trading at $41.00.

News: Despite fewer selling days and the impact of weather in areas of the southern United States representing about 20 percent of its business, the Company's EXPAREL net product sales were 3% higher in the third quarter of 2017.

On a non-GAAP basis, the Company's net income declined to $4.4 million or $0.11 per share in the third quarter of 2017 from $8.0 million or $0.20 per share in the third quarter of 2016.

EXPAREL net product sales were $66.8 million in the third quarter of 2017, a 3% increase over the $64.9 million reported for the third quarter of 2016.

Analysts polled by Thomson Reuters expected the Company to report a loss of $0.06 per share on revenue of $70.04 million.

Looking ahead, the Company has trimmed its EXPAREL net product sales outlook to a range of $280 million to $285 million from its previously guided range of $290 million to $310 million.

Near-term catalyst:

-- The FDA decision on resubmitted supplemental new drug application seeking expansion of the EXPAREL label to include administration via nerve block for prolonged regional analgesia is expected on April 6, 2018.

5. Ophthotech Corp. (OPHT)

Gained 15.88% to close Wednesday's trading at $2.70.

News: The Company reported better-than-expected Q3, 2017 financial results.

The net income for the quarter ended September 30, 2017 was $189.1 million or $5.25 per share compared to a net loss of $60.9 million or $1.71 per share for the same period in 2016. Collaboration revenue was $206.7 million for the recent third quarter compared to $1.7 million for the same period in 2016.

Analysts polled by Thomson Reuters were expecting an EPS of $3.06 and revenue of $121 million for Q3, 2017.

6. Inogen Inc. (INGN)

Gained 15.47% to close Wednesday's trading at $117.38.

News: The Company reported record results for the third quarter of 2017 and boosted its outlook for the year.

Net income for the third quarter of 2017 increased to $7.3 million or $0.33 per share from $5.2 million or $0.25 per share in the third quarter of 2016. Likewise, total revenue in the recent third quarter rose 26.8% to $69.0 million from $54.4 million in the same period in 2016.

Analysts polled by Thomson Reuters were expecting an EPS of $0.29 and revenue of $63.6 million for Q3, 2017.

For full year 2017, the Company boosted its revenue outlook to a range of $244 million to $248 million, up from its previous guidance range of $239 million to $243 million.

7. Halozyme Therapeutics Inc. (HALO)

Gained 13.36% to close Wednesday's trading at $19.09.

News: The Company reported better-than-expected Q3 financial results and upped its revenue outlook for the year.

Net income for the third quarter of 2017 was $2.7 million or $0.02 per share on revenue of $63.7 million. Analysts polled by Thomson Reuters were expecting a loss of $0.10 per share and revenue of $58.95 million.

The Company had incurred a net loss of $28.9 million or $0.23 per share on revenue of $31.9 million for the third quarter of 2016.

Driven by stronger product sales, royalties, and sponsored research, the Company has boosted its revenue outlook for the year to a range of $265 million to $280 million from its previous guidance range of $245 million to $260 million.

LOSERS

1. Xenon Pharmaceuticals Inc. (XENE)

Lost 17.46% to close Wednesday's trading at $2.60.

News: The Company reported financial results for the quarter ended September 30, 2017, and provided a corporate update.

Net loss for the recent third quarter was $7.7 million or $0.43 per share on revenue of $0.3 million. This compared to a net loss of $7.7 million or $0.51 per share and revenue of $0.4 million for the same period in 2016.

The Company also revealed that GDC-0310, its partnered program with Genentech, which has completed phase I testing, will not enter a phase II clinical trial for the potential treatment of pain in the first quarter of 2018, as previously guided.

Near-term catalysts:

-- File an IND equivalent for XEN901, a selective Nav1.6 inhibitor for the treatment of epilepsy, in the fourth quarter of 2017. -- A phase I first-in-human clinical trial of single ascending doses and multiple ascending doses of XEN1101 in healthy subjects is underway. XEN1101 is a next-generation Kv7 potassium channel opener for the potential treatment of epilepsy.

2. Endologix Inc. (ELGX)

Lost 16.05% to close Wednesday's trading at $4.83.

News: The Company reported a decline in revenue for the third quarter of 2017 and has lowered its revenue outlook for the year.

Net loss for the third quarter of 2017 was $14.3 million, or $0.17 per share compared to a net loss of $15.2 million or $0.18 per share, a year ago. Global revenue in the third quarter of 2017 was $46.0 million, an 11.8% decrease from $52.1 million in the third quarter of 2016.

Analysts polled by Thomson Reuters were expecting a loss of $0.17 per share on revenue of $46.66 million.

Looking ahead, the Company now anticipates 2017 revenue in the range of $181 million to $184 million, down from the previous guidance range of $185 million to $190 million.

3. Vanda Pharmaceuticals Inc. (VNDA)

Lost 12.37% to close Wednesday's trading at $13.10.

News: The Company reported a loss for the third quarter of 2017 and lowered its revenue outlook for the year.

On a non-GAAP basis, the net loss for the recent third quarter was $1.3 million or $0.03 per share compared to a net income of $4.6 million or $0.11 per share for the third quarter of 2016.

Total net product sales from HETLIOZ and Fanapt were $41.3 million in the third quarter of 2017, a 7% increase compared to $38.5 million in the third quarter of 2016.

For full year 2017, the Company now expects combined net product sales from both HETLIOZ and Fanapt to be in the range of $163 million to $169 million, down from its prior outlook of $165 million to $175 million.

4. Tesaro Inc. (TSRO)

Lost 12.37% to close Wednesday's trading at $13.10.

News: The Company reported Q3 financial results. Sales of its ovarian cancer drug ZEJULA have missed analysts' expectations.

Net product revenue totaled $41.8 million for the third quarter of 2017, which included ZEJULA revenues of $39.4 million and VARUBI/VARUBY revenues of $2.4 million. This compares to net product revenue of $1.3 million for the third quarter of 2016.

Net loss totaled $25.3 million or $0.47 per share for the third quarter of 2017 compared to a net loss of $87.9 million or $1.72 per share for the third quarter of 2016.