EIDX Awaits Phase II Data, PTX Slumps On Court Ruling, TOCA On Watch

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

1. Eidos Therapeutics Inc. (EIDX)

Lost 31.09% to close Monday's (Aug.27) trading at $13.94.

News: Eidos is developing a drug by the name AG10 for transthyretin amyloidosis (ATTR) cardiomyopathy. Pfizer Inc.'s (PFE) today presented positive results from a phase III study of Tafamidis in transthyretin amyloid cardiomyopathy.

Clinical Trials & Near-term Catalysts:

-- A phase II clinical trial of AG10 in patients with ATTR cardiomyopathy is underway. Top-line results from this trial are expected to be reported by the end of 2018.

Recent event:

The Company's shares began trading on the Nasdaq Global Select Market on June 20, 2018, at an offering price of $17 each.

2. Pernix Therapeutics Holdings Inc. (PTX)

Lost 11.85% to close Monday's trading at $1.19.

News: The Company announced the Court's ruling in a patent litigation concerning painkiller Zohydro ER with BeadTek involving defendant Alvogen Malta Operations Ltd.

Alvogen Malta is seeking FDA approval to market generic version of Pernix Therapeutics' Zohydro ER. Pernix had sued Alvogen for infringement.

Today, while the United States District Court for the District of Delaware ruled that Alvogen has infringed two of Pernix' patents, it has declared the patents invalid. Pernix intends to appeal this aspect of the Court's decision.

If Alvogen Malta prevails in the appeal case, Alvogen can launch a generic version of Zohydro ER with BeadTek, subject to final approval of an ANDA from the FDA, as early as October 1, 2019.

3. DarioHealth Corp. (DRIO)

Lost 8.77% to close Monday's trading at $1.04.

News: No news

Recent event:

On August 9, the Company reported financial results for the second quarter ended June 30, 2018.

In the second quarter of 2018, net loss was $5.8 million or $0.32 per share on revenue of $2.06 million. This compared with a net loss of $4.1 million or $0.43 per share and revenue of $1.2 million in the second quarter of 2017.

As of June 30, 2018, cash and cash equivalents totaled $5 million.

4. Health Insurance Innovations Inc. (HIIQ)

Lost 8.33% to close Monday's trading at $51.20.

News: No news

Recent event:

On August 1, the Company reported financial results for the second quarter ended June 30, 2018, and raised its annual guidance.

Adjusted net income for the second quarter of 2018 rose to $10.19 million or $0.61 per share on revenue of $71.7 million. This compared with an adjusted net income of $7.51 million or $0.46 per share and revenue of $61.8 million in the year-ago quarter.

For full-year 2018, the Company now expects revenue to be between $293 million and $303 million, and adjusted EPS to be between $2.47 and $2.57. Revenue in 2017 was $250.5 million and adjusted EPS was $1.65.

5. Tocagen Inc. (TOCA)

Lost 7.67% to close Monday's trading at $8.31.

News: No news

Recent event:

On August 23, the Company announced that its phase III trial evaluating the safety and efficacy of Toca 511 & Toca FC compared to standard of care in patients undergoing resection for recurrent high grade glioma, dubbed Toca 5, will continue without modification following a planned first interim analysis of data conducted by an Independent Data Monitoring Committee (IDMC).

Near-term Catalyst:

The second interim analysis of the Toca 5 study is expected to be conducted in the first half of 2019.