Top Pick
Relmada Therapeutics Inc. ($RLMD) stock jumped up on the news of its lead product candidate, Phase 2a-stage REL-1017 (dextromethadone, d-Methadone), receiving Fast Track review for the adjunctive treatment of major depressive disorder (MDD) from the FDA. The new status will provide for more frequent interactions with the FDA review team and a rolling review of the New Drug Application (NDA).
The stock gained over 35 percent in its previous trading session, trimming some of the losses it has accumulated over the course of past 12 months. Fast Track designation is given to the drugs which have the potential to treat serious conditions and fill an unmet medical need.
Focus Ticker
Celsion Corporation ($CLSN) stock perked up as the company announced positive preclinical results for ThermoDox. The study related to the evaluation of the drug candidate in combination with loco-regional mild hyperthermia for targeted drug delivery to the bladder wall as a potential treatment for bladder cancer.
In a porcine bladder cancer model, the combination of ThermoDox and mild hyperthermia achieved almost a 10x improvement in the concentration of doxorubicin within the bladder wall compared to free intravenous doxorubicin combined with mild hyperthermia. The stock market reacted positively to the news as the stock price jumped in its previous trading session.
Sector News
The FDA has issued a Warning Letter to Teva Pharmaceuticals Industries ($TEVA) for violations observed during an on-site inspection at its plant in China. The warning specifically pertains to control and sampling processes. The company will respond to the letter by May 1st.
BioMarin Pharmaceutical ($BMRN) announced that it has settled its patent infringement litigation with would-be competitor Par Pharmaceutical. The dispute related to PKU med Kuvan. As per the terms of the settlement, Par may now market a generic version beginning October 1, 2020 or earlier under certain circumstances.
Approvals
China Cord Blood Corporation ($CO) announced that its board has decided to terminate its review. The board was reviewing the possibility of going private by acquiring ordinary shares of the Company not owned by current investor Golden Meditech.

Deals and Collaborations
InVivo Therapeutics ($NVIV) announced that ti will amend the protocol for the Phase 3 INSPIRE study evaluating its Neuro-Spinal Scaffold in patients with acute spinal cord injury. The company says the change will allow the recruitment of an additional 20-40 patients who were initially rejected because they did not meet all the inclusion criteria. The amended protocol is expected to be filed with the FDA during this quarter.
Diplomat Pharmacy ($DPLO) announced renewing its specialty drug purchasing agreement with Celgene. The collaboration was set to expire on June 30. The terms and conditions of the renewed agreement are substantially the same. It will expire on June 30, 2019. The deal pertains to the prices under which Diplomat can buy drugs from Celgene. It also provides for specific prescription-dispensing services.
Analyst Opinion
Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Aegis
Downgrades
IntelliPharmaCeutics Intl (IPCI)
Buy -> Hold
$8.00 -> $2.00
High
Canaccord Genuity
Reiterates
Entellus Medical (ENTL)
Buy
$22.00
Medium
Canaccord Genuity
Set Price Target
SAGE Therapeutics (SAGE)
Buy
$110.00
High
Cann
Reiterates
Epizyme (EPZM)
Outperform
$26.00
High
Cantor Fitzgerald
Set Price Target
Aerie Pharmaceuticals (AERI)
Buy
$56.00
Medium
Cantor Fitzgerald
Initiates
Prothena Co. PLC (PRTA)
Overweight
$86.00
High
CIBC
Downgrades
Avinger (AVGR)
Outperform -> Market Perform

High
CIBC
Reiterates
Vanda Pharmaceuticals (VNDA)
Outperform -> Outperform
$21.00
Low

Big Movers

Gainers (% price change)
Last Trade
Change
Mkt Cap
China Cord Blood Corp
CO
8.01
+1.05 (15.09%)
591.58M
ImmunoGen, Inc.
IMGN
3.24
+0.28 (9.46%)
289.88M
Clovis Oncology Inc
CLVS
56.17
+2.43 (4.52%)
2.47B
AcelRx Pharmaceuticals
ACRX
2.75
+0.10 (3.77%)
124.68M
Spectrum Pharmaceuticals
SPPI
6.32
+0.21 (3.44%)
495.84M
Losers (% price change)

Trinity Biotech plc (ADR)
TRIB
5.62
-0.28 (-4.75%)
143.15M
Fluidigm Corporation
FLDM
4.62
-0.18 (-3.75%)
130.85M
Omeros Corporation
OMER
15.42
-0.54 (-3.38%)
652.44M
Accuray Incorporated
ARAY
4.60
-0.15 (-3.16%)
381.33M
Accelerate Diagnostics
AXDX
23.05
-0.75 (-3.15%)
1.18B
Most Actives (dollar volume)

Johnson & Johnson
JNJ
124.99
-0.41 (-0.33%)
342.05B
Abbott Laboratories
ABT
42.67
-0.81 (-1.86%)
73.56B
Amgen, Inc.
AMGN
161.61
-1.44 (-0.88%)
118.69B
Gilead Sciences, Inc.
GILD
66.51
+0.29 (0.44%)
86.94B
Pfizer Inc.
PFE
33.88
-0.04 (-0.12%)
201.70B