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Tonix Pharmaceuticals (TNXP) has had an excellent run over the last five days, gaining more than 23%. TNXP though still remains down sharply for the year. This was due to the huge sell-off seen earlier this year on a setback related to TNX-201, which failed in a proof-of-concept study. But as I had noted at the time, TNXP is worth holding as there is a strong chance the company will succeed with its TNX-102 (Tonmya) in Phase III fibromyalgia study. Remember that the drug had failed to meet primary endpoint in a Phase IIb study in 2014 but it did lead to an improvement in a number of secondary endpoints, which included measures of sleep and an effect on pain by a 30% responder analysis compared with placebo. Based on the Phase IIb trial results, TNXP proposed a 30% pain responder analysis as the primary efficacy endpoint in the Phase III trial. The proposal was accepted by the FDA. Top-line results from the AFFIRM study are scheduled to be announced in September. With a major catalyst coming up, I believe the run in TNXP could continue.


Endo Withdraws snDA  for OPANA ER- Endo International (ENDP) announced that it has withdrawn its supplemental New Drug Application (sNDA) seeking abuse-deterrent labeling for its opioid pain med OPANA ER (oxymorphone HCl). The company said that it will continue collecting and analyzing epidemiological data related to the product. The action will not affect its 2016 financial guidance.

No approvals to report.

No patents to report.

Cyroport (CYRX) announced that with the aim of raising capital to support its operations, the company is offering holders of its warrants to purchase common stock at $3.57 a special incentive to exercise. For a limited time (until September 16), one original warrant can be exchanged for a new warrant to purchase one share of common at $1.50 with the proviso that the new warrant is exercised immediately. In addition, holders will receive one additional warrant to purchase one share of common at $3.00 for every four new warrants exercised.

Check-Cap (CHEK) announced that it has closed its direct placement of equity with an institutional investor. The $6M deal includes 643,614 ordinary shares at $1.90 plus 2,514,281 pre-funded seven-year warrants ($1.85) to purchase ordinary shares at $0.05. Net proceeds from the offering will fund ongoing clinical development of the company’s colorectal cancer screening system and general corporate purposes.

No secondary offerings to report.

No IPOs to report.

Concordia Healthcare (CXRX) reported its financial results for the second quarter, posting earnings of $1.38 per share. CXRX’s earnings were in-line with the consensus forecast. The company’s revenue for the quarter came in at $231.7 million, up 208.1% on a year-over-year basis. Revenue were in-line with the consensus forecast.

Trillium Therapeutics (TRIL) reported net loss of C$14.8 million in its first half. The company ended the first half with C$60.1 million in cash on its balance sheet.

ProNAi Therapeutics (DNAI) reported a loss of $0.43 per share in its second quarter, missing consensus forecast by 5 cents. The company ended the quarter with $130.6 million in cash and cash equivalents on its balance sheet.

Eleven Biotherapeutics (EBIO) reported a loss of $0.33 per share in its second quarter. The company reported revenue of $0.28 million, up 154.5% on a year-over-year basis.

Atossa Genetics (ATOS) reported a loss of $0.05 per share in its second quarter.
Echo Therapeutics (ECTE) reported a loss of $0.82 per share in its second quarter.

ESSA Pharma (EPIX) reported a loss of $0.13 per share in its third quarter.
ADMA Biologics (ADMA) reported a loss of $0.50 per share in its second quarter, missing consensus forecast by 11 cents. The company reported revenue of $1.5 million, up 294.7% on a year-over-year basis.

Company (Ticker) Brokerage Action Recommendation Price Target My Price Target
Abbott Laboratories (ABT) Bank of America Reiterate Buy

$50

N/A
Aclaris Therapeutics (ACRS) Jefferies Group Price Target Raised Buy From $20 to $23 N/A
Affimed Therapeutics (AFMD) Leerink Swann Downgrade/Price Target Cut From Outperform to Market Perform From $8 to $3 N/A
AveXis (AVXS) Jefferies Group Upgrade From Hold to Buy

$42

N/A
AveXis (AVXS) Chardan Capital Reiterate Buy

$60

N/A
BioCryst Pharmaceuticals (BCRX) Piper Jaffray Cos. Upgrade/Price Target Raised From Neutral to Overweight From $8 to $15 N/A
BioLineRx (BLRX) Maxim Group Downgrade/Price Target Cut From Buy to Hold From $4 to $1 N/A
Catabasis Pharmaceuticals (CATB) Wedbush Reiterate Outperform

$17

N/A
Cyclacel Pharmaceuticals (CYCC) HC Wainwright Reiterate Buy N/A N/A
Endo International Plc (ENDP) Mizuho Upgrade/Price Target Raised From Neutral to Buy From $16 to $29 N/A
GlaxoSmithKline (GSK) Argus Price Target Raised Buy From $48 to $50 N/A
Seres Therapeutics (MCRB) FBR & Co. Price Target Cut Outperform From $43 to $23 N/A
Mallinckrodt (MNK) Stifel Nicolaus Initiation Buy

$95

N/A
Opexa Therapeutics (OPXA) Maxim Group Reiterate Buy

$18

N/A
Pernix Therapeutics Holdings (PTX) Brean Capital Downgrade From Buy to Hold N/A N/A
Sage Therapeutics (SAGE) BMO Capital Markets Reiterate Buy

$57

N/A
Sorrento Therapeutics (SRNE) Brean Capital Reiterate Buy N/A N/A
TESARO (TSRO) RBC Capital Markets Initiation Outperform

$122

N/A
Zynerba Pharmaceuticals (ZYNE) Piper Jaffray Cos. Reiterate Overweight

$42

N/A

Valeant Pharmaceuticals International (VRX)- Argeris N. Karabelas, Director, bought 4,000 shares at $24.65. The total value of the transaction was $98,600. Karabelas now owns 20,726 shares of VRX.

Jazz Pharmaceuticals (JAZZ)- Karen L. Smith, Global Head of R&D and CMO, bought 608 shares at $137.10. The total value of the transaction was $83,356. Smith now owns 14,182 shares of JAZZ.

BioDelivery Sciences International (BDSI)- William B. Stone, Director, sold 16,000 shares at $2.57. The total value of the transaction was $41,120. Stone still owns 124,175 shares of BDSI.

Heron Therapeutics (HRTX)- Robert Rosen, President & CCO, sold 100,000 shares at $23.30. The total value of the transaction was approximately $2.33 million. Rosen still owns 2,640 shares of HRTX.

Loxo Oncology (LOXO)- Keith T. Flaherty, Director, sold 15,000 shares at $26. The total value of the transaction was $389,967. Flaherty still owns 60,482 shares of LOXO. Orbimed Advisors, Director, sold 447,857 shares of $26.96. The total value of the transaction was approximately $12.07 million. Orbimed Advisors still owns 1,728,000 shares of LOXO.

No management changes and additions to report.

NYSE- Puma Biotechnology (PBYI) shares were among the major gainers on the NYSE. The stock closed 6.23% higher.

NASDAQ- Global Blood Therapeutics (GBT) shares were among the major gainers on the NASDAQ. The stock closed 17.76% higher. Eleven Biotherapeutics (EBIO) ended the day 16.87% higher. AveXis (AVXS) ended the day 16.38% higher. Concordia International (CXRX) shares were among the major losers on the NASDAQ. The stock closed 38.08% lower. Arcadia Biosciences (RKDA) ended the day 9.42% lower. Strongbridge Biopharma (SBBP) ended the day 6.52% lower.

NYSEMKT- Asterias Biotherapeutics (AST) shares were among the major movers on the NYSEMKT. The stock closed 1.35% higher.

OTC- Amarantus Bioscience Holdings (AMBS) shares were among the major gainers on the OTC market. The stock closed 6.52% higher.

Company (Ticker) Short Interest as a % of Float % Change Days to Cover
Nymox Pharmaceutical (NYMX)

4.3%

5.1%

5

NovaBay Pharmaceuticals (NBY)

10.1%

-4.8%

3

OncoCyte (OCX)

0.7%

17.8%

7

Oragenics (OGEN)

0.9%

2.2%

2

Organovo Holdings (ONVO)

12.7%

1.7%

10

Ocera Therapeutics (OCRX)

1.1%

-11.2%

24

Ocular Therapeutix (OCUL)

14.7%

-4.3%

5

Ohr Pharmaceuticals (OHRP)

9.4%

-1.7%

47

Omeros (OMER)

26.3%

5.1%

31

Oncobiologics (ONS)

0.1%

15%

2