AXON Depressed By MINDSET, CDNA On Track, PTCT On A Sticky Wicket?

The following are some of the biotech stocks that made their way onto the Day’s Gainers & Losers’ list of September 26, 2017.

GAINERS

1. CareDx Inc (CDNA)

Gained 23.72% to close Tuesday’s (Sep.26) trading at $4.12.

News: Molecular Diagnostics Services (MolDX) Program developed by Palmetto GBA has set AlloSure reimbursement at $2,840.75, which is same reimbursement as AlloMap in 2017.

AlloSure, which is on track for launch in October, is the Company’s proprietary next-generation sequencing test for measuring the percentage of donor-derived cell-free DNA (dd-cfDNA) in solid organ transplant recipients. AlloMap is a non-invasive blood test for heart transplant patients.

AlloSure will be reimbursed for kidney transplant patients covered by Medicare across the United States starting October 9, 2017. About 80% of kidney transplant patients are covered by Medicare, so many patients will have access to AlloSure, according to the Company.

The Company estimates that AlloSure could bring home revenue of $200 million per year.

2. Versartis Inc. (VSAR)

Gained 14.29% to close Tuesday’s trading at $2.80 after 2 down days of trading.

News: No news

Recent event:

Last Thursday (Sep.21, 2017) after the bell, the Company announced that its phase III study of Somavaratan in pre-pubertal children with Growth Hormone Deficiency, dubbed VELOCITY, did not meet the trial goals. The news sent the stock tumbling nearly 88% on Sep.22, 2017.

3. Surgery Partners Inc. (SGRY)

Gained 10.33% to close Tuesday’s trading at $10.15.

News: No news

Recent event:

On August 8, 2017, the Company reported disappointing Q2, 2017 financial results and trimmed its revenue outlook for the year.

In the second quarter of 2017, the Company’s net loss attributable to Surgery Partners was $4.5 million or $0.09 per share compared to net income of $2.1 million or $0.04 per share for the same period last year. Total revenues for the recent second quarter decreased 0.5% to $288.4 million from $289.7 million for the second quarter of 2016.

Looking ahead to full year 2017, the Company expects revenue in the range of $1.18 billion to $1.20 billion, which reflects 7% to 9% growth over 2016. Previously, the Company was expecting 2017 revenue growth of 9% to 11%. The revised outlook of this year reflects the recent softness in healthcare utilization and payor mix shift experienced during the second quarter.

4. AcelRx Pharmaceuticals Inc. (ACRX)

Gained 8.97% to close Tuesday’s trading at $4.25.

News: No news

Near-term catalyst:

— The…

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