ECYT On Fire After ABX Deal, Rigel’s ITP Drug Skips Panel Review, MCRB On Watch

The following are some of the biotech stocks that made their way onto the Day’s Gainers & Losers’ list of October 2, 2017.


1. Endocyte Inc. (ECYT)

Gained 157.45% to close Monday’s (Oct.2nd) trading at $3.63.

News: The Company announced the completion of an exclusive worldwide license of PSMA-617 from ABX GmbH.

The transaction provides Endocyte with 177Lu-PSMA-617, the most advanced targeted radioligand therapy in development for prostate cancer, addressing a greater than $1 billion market opportunity.

Endocyte plans to seek regulatory approval to initiate a phase III registration trial of 177Lu-PSMA-617 in early 2018. If all goes well as planned, the Company expects to complete the trial as early as 2020.

2. Rigel Pharmaceuticals Inc. (RIGL)

Gained 32.68% to close Monday’s trading at $3.37.

News: The Company has been notified that an FDA panel review is not required to discuss its New Drug Application for Tavalisse (fostamatinib) in patients with chronic or persistent immune thrombocytopenia.

immune thrombocytopenia, or ITP, is an autoimmune disease where the immune system attacks and destroys platelets in the blood. The result is abnormally low platelet counts.

The FDA decision on Tavalisse is expected by April 17, 2018.

3. Catabasis Pharmaceuticals, Inc. (CATB)

Gained 24.53% to close Monday’s trading at $2.64.

News: No news

Near-term catalyst:

— The Company will present results from joint research collaboration with Sarepta Therapeutics at the 22nd International Congress of the World Muscle Society on October 5, 2017.

The poster presentation is titled “Edasalonexent (CAT-1004), an NF-kB inhibitor, enhances myotube formation in vitro, and increases exon-skipped sarcolemmal dystrophin in muscle of mdx mice”.

Edasalonexent is Catabasis’ lead drug candidate for Duchenne muscular dystrophy.

A three-part phase I/II clinical trial investigating the safety and efficacy of Edasalonexent in boys ages 4-7 affected with Duchenne muscular dystrophy (any confirmed mutation), dubbed…

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