Healthcare Stocks That Plunged To New Lows (SVRA, ONCY, MTFB…)

(RTTNews) - The following are some of the healthcare stocks that hit new lows on Wednesday.  

Savara Inc. (SVRA), an orphan lung disease company, touched a new low of $1.01 on Wednesday before closing at $1.03. The stock is down 86.66% year-to-date.

The company's lead product candidate is Molgradex, proposed for the Treatment of Autoimmune Alveolar Pulmonary Proteinosis (aPAP).

Savara shares fell on Wednesday following the news that the FDA asked the company for more efficacy and safety data on Molgradex development program for aPAP, before submitting Biologics License Application (BLA).

In June, the company had announced that a phase III study of Molgradex for the Treatment of aPAP, dubbed as IMPALA, did not meet its primary endpoint of alveolar-arterial oxygen gradient (A-aDO2).

IMPALA-X, an extension study to determine the long-term safety and utilization of Molgradex in patients with aPAP is underway and Patients have been enrolled.

Topline results from the ongoing Phase 2a study of Molgradex for the treatment of Nontuberculous mycobacteria (NTM) in non-cystic fibrosis (CF) patients, dubbed as OPTIMA are expected in Q1 2020.

Another drug candidate, AeroVanc for the treatment of persistent methicillin-resistant Staphylococcus aureus (MRSA) lung infection in CF is under phase III study. The company expects to complete patient enrollment in the first half of 2020 with top-line results expected in late 2020 or early 2021.

***

Oncolytics Biotech, Inc. (ONCY) dropped to a new low on Wednesday of $0.35, before closing at $0.41. The stock fell $77.35% year-to-date.

Oncolytics' product candidate, Pelareorep, an intravenously delivered immuno-oncolytic virus, branded as Reolysin is being investigated for the treatment of ovarian cancer, pancreatic cancer, malignant glioma, and metastatic breast cancer.

In 2015, the FDA had granted orphan drug designation to pelareorep for the treatment of ovarian cancer, pancreatic cancer, and malignant glioma.

In 2017, the FDA had assigned Fast Track Designation for pelareorep in metastatic breast cancer.

***

Motif Bio plc (MTFB) fell to a new low on Wednesday of $0.21, before closing at $0.26. The stock is down 96.05% year-to-date.

The company's lead product candidate is Iclaprim for the treatment of acute bacterial skin and skin structure infections (ABSSSI). Iclaprim was rejected by the FDA in February of this year and the Company was asked to furnish additional data before the drug could be approved.

A Phase II study of Iclaprim for the treatment of hospital-acquired and ventilator-associated bacterial pneumonia (HABP/VABP) has been successfully completed, and a phase III study is being planned.

In 2015 FDA had granted Fast Track status as well as Qualified Infectious Disease Product (QIDP) designation for Iclaprim to treat ABSSSI.

On September 30, 2019, the company proposed corporate restructuring, loan amendment and capital raise to continue with its operations.

***

Satsuma Pharmaceuticals, Inc. (STSA) dropped to a new low of $11.01 on Wednesday before closing at $11.33. The stock made its debut on the Nasdaq on September 13, 2019, at an opening price of $18.34.

The company has only one product candidate, STS101, a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, or DHE, for the acute treatment of migraine.

A phase III trial of STS101 in approximately 1,140 migraine patients, dubbed EMERGE, is underway, with top-line data anticipated in the second half of 2020.

If all goes well as planned, the company has planned to initiate a 12-month safety trial of STS101, with NDA filing anticipated by the end of 2021.

***

China SXT Pharmaceuticals, Inc. (SXTC), on Wednesday, fell to a new low of $0.91, before closing at $1.05. The stock made its debut on the Nasdaq on January 4, 2019, at an opening price of $4.49.

China SXT Pharmaceuticals is focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces (TCMPs). It provides oral prescription drugs and supplements under the Suxuantang, Hui Chun Tang, and Tong Ren Tang brands.