AVRO Down 60% In 2 Days, MESO On Watch, ACRX Faces FDA Panel Next Week

AVRO Down 60% In 2 Days, MESO On Watch, ACRX Faces FDA Panel Next Week

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

1. ARCA biopharma Inc. (ABIO)

Lost 35.29% to close Tuesday’s (Oct.2) trading at $0.66. The stock gained 82% on Monday, and it looks like it is giving back some of its gains.

News: No news

Recent event:

On September 18, the Company submitted a Special Protocol Assessment, or SPA, request to the FDA related to the planned Phase 3 clinical development program of Gencaro (bucindolol hydrochloride) as a genetically-targeted treatment for heart failure (HF) patients at risk for atrial fibrillation (AF).

Subject to FDA approval of the SPA and securing additional financing, ARCA anticipates initiating PRECISION-AF in the second half of 2019.

2. AVROBIO Inc. (AVRO)

Lost 18.50% to close Tuesday’s trading at $20.48.

On October 1, the Company announced clinical data and patient updates from the investigator-sponsored Phase 1 study and the AVROBIO-sponsored Phase 2 clinical trial of AVR-RD-01 in Fabry disease.

AVR-RD-01 was generally well tolerated in the two trials. However, the vector copy number (VCN) in peripheral blood has declined post-treatment with AVR-RD-01, which has left investors worried, causing the share price to fall.

3. Mesoblast Limited (MESO)

Lost 17.79% to close Tuesday’s trading at $7.07.

News: No news

Near-term Catalyst:

Results from the Company’s 159-patient randomized placebo-controlled Phase 2b trial evaluating its allogeneic mesenchymal precursor cell product candidate MPC-150-IM in the treatment of end-stage heart failure patients implanted with a left ventricular assist device is slated for presentation on November 11.

4. Aduro BioTech Inc. (ADRO)

Lost 13.02% to close Tuesday’s trading at $6.24.

News: No news

Recent event:

— On August 1, the Company reported financial results for the second quarter ended June 30, 2018.

Net loss for the second quarter of 2018 was $24.4 million or $0.31 per share compared to net loss of $19.4 million, or $0.27 per share in the same period of 2017. Revenue generated from collaboration and license revenue was $2.6 million for the second quarter of 2018 compared to $5.9 million for the same period in 2017.

5. AcelRx Pharmaceuticals Inc. (ACRX)

Lost 11.52% to close Tuesday’s trading at $3.38.

News: No news

Near-term Catalysts:

The Company’s New Drug Application for DSUVIA for the management of moderate-to-severe acute pain in medically supervised settings in adult patients is scheduled to be reviewed by an FDA panel on October 12, 2018. The regulatory agency’s final decision on DSUVIA is set for November 3, 2018.

by RTTNews Staff Writer

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