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Glaukos Corporation ($GKOS) stocks showed an upward spike as the company that the CPT codes used by physicians for reimbursement for implanting the iStent device have been extended five years. The extension has been granted by the AMA CPT Editorial Panel. CPT codes are used by physicians and other healthcare providers to report and receive Medicare reimbursement for healthcare services. 
The company said that the extension is important for the continued surgeon adoption of iStent and MIGS. The company stock has shown strong performance this year and has gained over 39 percent. In the past 12 months, the stock price has increased by stupendous 178 percent.

Seres Therapeutics ($MCRB) stock spruced up on the news that the company plans to initiate a Phase 3 clinical trial, ECOSPOR III, evaluating lead product candidate, Breakthrough Therapy- and Orphan Drug-tagged SER-109, for the prevention of recurrent Clostridium difficile (C. diff) infections. The FDA has agreed that this trial could support a regulatory application.

The stock jumped over 37 percent in its previous trading session on Thursday. It is now 28 percent up on Year to Date basis. However, in the past 12 months, it had lost 49 percent of its value. The stock price is likely to stabilize in the near future.

 

Editas Medicine ($EDIT) announced pricing its 4 million share offering at $22.50 apiece. The company expects to receive nearly $90 million in proceeds. The company says it intends to use the proceeds of the offering to fund preclinical studies and clinical trials for its LCA10 program and its other programs to treat genetic and infectious diseases of the eye and other ongoing or upcoming projects.

Galena Biopharma Inc. announced the final analysis from the Company’s GALE-301 (E39) investigator-sponsored Phase 1/2a clinical trial. The data from the early stage clinical trial demonstrates that GALE-301 is well tolerated and offered statistically significant disease free survival in a small number of patients treated with the optimal dose. The data also showed a meaningful correlation between delayed type hypersensitivity reactions and clinical outcomes indicating that the vaccine is able to generate an immune response. 

Sonoma Pharmaceuticals ($SNOA) reported positive results from a 25-subject study evaluating SebuDerm (topical hypochlorous acid) gel for the treatment of mild-to-moderate facial and scalp seborrheic dermatitis.  Treated patients showed a 33% improvement from baseline at day 14 and 52% improvement at day 28 as measured by investigator's global assessment (IGA).  The company is using its direct sales teams for the US commercialization.

Jazz Pharmaceuticals ($JAZZ) announced that the it has the first patients for its 85-subject Phase 3 clinical trial evaluating JZP-258 for the treatment of cataplexy and excessive daytime sleepiness in adult narcolepsy patients. The primary endpoint of the study is the change in weekly cataplexy attacks compared to placebo. JZP-258 contains 90% less sodium than Xyrem oral solution, representing a healthier therapeutic option for patients.

 

Glycyx PharmaVentures Ltd. announced inking an exclusive license agreement with Valeant Pharmaceuticals ($VRX). The deal allows the firm to develop and commercialize products containing methylnaltrexone bromide for use in oncology outside of the U.S. and Canada. It also bestows the company the right to extend the license to the U.S. and Canada if Valeant elects not to pursue commercialization there. 

Threshold Pharmaceuticals ($THLD) announced that it plans to merge with privately held Molecular Templates, which has MT-3724 as its lead product candidate, in an all-stock deal. MT-3724 demonstrated good safety and efficacy in elderly, heavily pre-treated patients in its Phase 1 trial.

 

Rockwell Medical Inc. ($RMTI) reported that for the fourth quarter of the year, its sales were $13.4 million, or $0.7 million lower than Q4 2015. The company’s gross profit was $2.0 million compared to $2.1 million in Q4 2015. Its net loss was $5.1 million or ($0.10) per share compared to a $5.8 million loss or ($0.12) per share in Q4 2015. For the full year, its net loss was $19.8 million or ($0.39) per share versus $14.4 million or ($0.29) per share in 2015.

Celsion Inc. ($CLSN) announced that for the year ended December 31, 2016, the company’s net loss stood $22.1 million, or $0.85 per share, compared to a net loss of $22.5 million, or $1.03 per share, in 2015. its Research and development (R&D) costs were constant at $14.6 million in 2016 and 2015.  The Company ended 2016 with $4.5 million of total cash, investments and accrued interest on these investments. 

Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Wells Fargo & Co
Initiates
Adaptimmune Therapeutics PLC - (ADAP)
Market Perform

Low
Goldman Sachs Group
Raises Target
AveXis (AVXS)

$108.00
N/A
Jefferies Group LLC
Raises Target
AveXis (AVXS)

$92.00
N/A
BMO Capital Markets
Reiterates
AveXis (AVXS)
Outperform
$95.00
Low
HC Wainwright
Reiterates
Conatus Pharmaceuticals (CNAT)
Buy
$18.00
Low
Mizuho
Reiterates
Eagle Pharmaceuticals (EGRX)
Underperform
$66.00
Low
Wedbush
Reiterates
Fate Therapeutics (FATE)
Outperform
$7.00
Low
BMO Capital Markets
Reiterates
Fate Therapeutics (FATE)
Buy
$7.00
Low
Wedbush
Reiterates
Intercept Pharmaceuticals (ICPT)
Outperform
$224.00
Low
Stifel Nicolaus
Downgrades
Innocoll Holdings PLC (INNL)
Buy -> Hold
$9.00 -> $2.00
Low
HC Wainwright
Reiterates
Karyopharm Therapeutics (KPTI)
Buy
$14.00
N/A
Wells Fargo & Co
Initiates
Lion Biotechnologies (LBIO)
Outperform

Low
Needham & Company LLC
Lowers Target
Omeros (OMER)
Buy
$24.00 -> $22.00
Low

Gainers (% price change) Last Trade Change Mkt Cap
Gen-Probe Incorporated 8.51 +1.16 (15.78%) 1.23B
Rockwell Medical Inc RMTI 6.04 +0.44 (7.86%) 317.46M
Endologix, Inc. ELGX 6.84 +0.36 (5.56%) 570.73M
Oclaro, Inc. OCLR 9.18 +0.45 (5.15%) 1.65B
Infinity Pharmaceuticals INFI 3.25 +0.15 (4.84%) 172.22M
Losers (% price change)
Fluidigm Corporation FLDM 4.90 -0.42 (-7.89%) 150.18M
U.S. Physical Therapy USPH 69.90 -3.85 (-5.22%) 879.46M
United Therapeutics Corp. UTHR 139.11 -6.92 (-4.74%) 6.28B
Biogen Inc BIIB 278.96 -13.68 (-4.67%) 60.28B
Insys Therapeutics Inc INSY 10.06 -0.49 (-4.64%) 727.35M
Most Actives (dollar volume)
Amgen, Inc. AMGN 180.11 -2.49 (-1.36%) 134.47B
Biogen Inc BIIB 278.96 -13.68 (-4.67%) 60.28B
Johnson & Johnson JNJ 128.46 -0.50 (-0.39%) 353.80B
Pfizer Inc. PFE 34.43 -0.20 (-0.58%) 207.38B
Merck & Co., Inc. MRK 64.18 -0.52 (-0.80%) 177.58B