ACHV Focuses On Achievement, IMGN Strikes Chord With JAZZ, FDA Snubs ACOR

The following are some of the biotech stocks that made their way onto the Day’s Gainers & Losers’ list of August 29, 2017.

GAINERS

1. Achieve Life Sciences Inc. (ACHV)

Gained 37.69% to close Tuesday’s (Aug.29) trading at $3.69.

News: No news

Recent events:

On August 16, 2017, the Company announced that it has initiated Cytisine Clinical Development Program in the U.S.

Cytisine has been approved and marketed in Central and Eastern Europe as a smoking cessation treatment for more than 15 years.

Near-term catalysts:

In preparation to initiate a pivotal Phase 3 trial in the United States, Achieve expects to conduct the following clinical studies this year.

— Evaluation of the effect of food on the bioavailability of cytisine – enrollment has started, the first subjects have been dosed and data analysis expected to be completed in Q4 2017.
— Assessment of repeat-dose pharmacokinetic (PK) parameters and pharmacodynamics expected to commence in Q4 2017.

2. Ovid Therapeutics Inc. (OVID)

Gained 21.48% to close Tuesday’s trading at $8.71.

News: No news

The Company made its debut on the NASDAQ Global Select Market on May 5, 2017, offering its shares at a price of $15.00 each.

Pipeline:

The Company’s pipeline includes OV101, a potential treatment for Angelman syndrome and Fragile X syndrome, and TAK-935/OV935 for treatment of adults with rare epilepsies.

A phase II clinical trial of OV101 in adults with Angelman syndrome, dubbed STARS, a phase I trial of OV101 in adolescents diagnosed with Angelman syndrome or Fragile X syndrome, and a phase 1b/2a clinical trial of TAK-935/OV935 in adults with rare epilepsies are underway.

Near-term catalysts:

— The top line data from the phase I trial evaluating OV101 in adolescents diagnosed with Angelman syndrome or Fragile X syndrome are expected to be available in the second half of 2017.
— Data from the phase 1b/2a clinical trial of TAK-935/OV935 are expected next year.

3. Juno Therapeutics Inc. (JUNO)

Gained 20.09% to close Tuesday’s trading at $43.81. This is the second straight day of gain for the stock.

News: Brokerage firm Wedbush has upgraded the rating on Juno’s stock to Outperform from Neutral and has raised the target price to $42 up from $24.

Juno’s stock rose more than 18% yesterday as a sympathy play on Kite Pharma’s acquisition by Gilead. Like Kite Pharma, Juno is also focused on developing CAR T-cell therapies to cure cancer.

4. ImmunoGen Inc. (IMGN)

Gained 17.34% to close Tuesday’s trading at $7.58.

News: The Company has entered…

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