Merrimack Pharmaceuticals (MACK) reported its second-quarter results. ONIVYDE sales for the quarter totaled $12.9 million. This figure is net of discounts. It does represent an increase of $2.9 million over the prior quarter. MACK’s license and collaboration revenue for the quarter totaled $19.3 million. MACK shares have fallen sharply in pre-market trading today. At last check, the stock was down more than 8%. MACK shares remain undervalued given ONIVYDE’s potential. But with ONIVYDE sales picking up, I believe MACK is now worth a look.

ACADIA Pharmaceuticals (ACAD) shares have edged lower in pre-market trading after falling nearly 2% on Thursday. ACAD has been moving after reporting its earnings. The earnings were closely watched as the company began commercialization of its PDP drug Nuplazid. The drug was approved by the FDA in April this year. Net product sales were just $97,000 for the quarter. However, one must remember that during launch physicians have been able to prescribe patients a 30-day free trial of NUPLAZID upon initiation of therapy, for which no revenue is recognized.  The more important thing to watch is operating expenses and the company’s outlook on costs. SG&A expenses rose to $50.8 million in the second quarter. ACAD ended Q2 with more than $400 million in cash so the company has sufficient funds to meet the increasing expenses. The next catalyst for ACAD is top-line results from pimavanserin Phase 2 study in ADP.

Regeneron Reports Q2 Results- Regeneron Pharmaceuticals (REGN) reported its financial results for the second quarter of fiscal 2016. For the quarter, REGN reported revenue of $1.21 billion, up 21.4% on a year-over-year basis. The company’s adjusted earnings for the quarter were $2.82 per share, up 24.2% on a year-over-year basis. For 2016, REGN expects EYLEA sales growth to be between 20% and 25%.

Momenta Tumbles on Trial Update- Momenta Pharmaceuticals (MNTA) shares fell sharply on Thursday after the company said that it has discontinued further accrual of its Phase 2 trial evaluating necuparanib in combination with Abraxane and gemcitabine in patients with advanced metastatic pancreatic cancer. The company said that data assessed from 120 randomized patients determined that necuparanib in combination with the drugs did not show a sufficient level of efficacy to warrant continued enrollment.

Ocular Therapeutix Rallies on FDA Update- Ocular Therapeutix (OCUL) shares rallied on Thursday after the company announced that it has received a letter from the FDA saying that corrective actions related to its New Drug Application for Dextenza appear to address the agency's concerns. The agency noted one exception related to the proposed process for identity testing of an incoming inert gas component used in the manufacturing process.

No approvals to report.

No patents to report.

Check Cap (CHEK) shares surged on Thursday after the company announced an agreement with GE Healthcare to develop and validate high-volume manufacturing for X-ray source production and assembly into its capsule. The two companies may eventually discuss collaboration on execution of a high-volume manufacturing facility and distribution of the Check-Cap system.

No secondary offerings to report.

Gemphire Therapeutics has raised $30 million in its IPO. The company offered 3 million shares at $10, which was below the range of $11 to $13 per share. Gemphire’s shares have been listed on the NASDAQ under the ticker symbol GEMP.

ImmunoGen (IMGN) reported a loss of $0.51 per share in its fourth quarter, missing consensus forecast by 12 cents. The company’s revenue for the quarter was $7.41 million, down 41.2% on a year-over-year basis. Revenue missed consensus forecast $9.7 million.

Oncolytics Biotech (ONCYF) reported a loss of $0.02 per share in the second quarter. The company ended the quarter with $20.23 million in cash and cash equivalents on its balance sheet.

BioCryst Pharmaceuticals (BCRX) reported a loss of $0.22 per share in its second quarter, beating consensus forecast by 4 cents. The company reported revenue of $4.79 million, down 81.5% on a year-over-year basis. Revenue beat consensus forecast by $0.87 million.

Navidea Biopharm (NAVB) reported a loss of $0.04 per share in its second quarter, missing consensus forecast by a penny. The company reported revenue of $5.39 million, up 87.8% on a year-over-year basis. Revenue beat consensus forecast by $0.15 million.

Teva Pharmaceutical Industries (TEVA) reported second-quarter earnings of $1.25 per share, beating consensus forecast by 5 cents. The company reported revenue of $5.04 billion, up 1.4% on a year-over-year basis. Revenue beat consensus forecast by $170 million.

Intercept Pharma (ICPT) reported a loss of $3.14 per share in the second quarter, beating consensus forecast by 56 cents. The company reported revenue of $5.52 million, beating consensus forecast $4.06 million.

Amarin (AMRN) reported a loss of $0.09 per share in its second quarter, beating consensus forecast by 4 cents. The company reported revenue of $33.11 million, up 87% on a year-over-year basis. Revenue beat consensus forecast by $3.14 million.

Lexicon Pharmaceuticals (LXRX) reported a loss of $0.37 per share in its second quarter, beating consensus forecast by 3 cents. The company reported revenue of $20.09 million, beating consensus forecast by $7.73 million.

Paratek Pharmaceuticals (PRTK) reported a loss of $1.69 per share in its second quarter. The company ended the quarter with cash and cash equivalents of $150.4 million.

Parnell Pharma (PARN) reported a loss of AUD0.85 per share in the first half of 2016. For the first half, the company’s revenue was AUD8.23 million, up 66.9% on a year-over-year basis.

Intra-Cellular Therapies (ITCI) reported a loss of $0.71 per share in its second quarter, beating consensus forecast by 8 cents. The company’s revenue for the quarter was $0.23 million, up 283.3% on a year-over-year basis. Revenue beat consensus forecast by $0.21 million.

Dipexium (DPRX) reported a loss of $0.52 per share in its second quarter, beating consensus forecast by 2 cents. The company ended the quarter with cash and cash equivalents of $7.6 million.

Akorn (AKRX) reported second-quarter earnings of $0.58 per share, beating consensus forecast by 3 cents. The company’s revenue for the quarter was $280.73 million, up 27.1% on a year-over-year basis. Revenue beat consensus forecast by $7.74 million.

Curis (CRIS) reported a loss of $0.09 per share in its second quarter, in-line with the consensus forecast. The company reported revenue of $1.68 million, down 19.2% on a year-over-year basis. Revenue missed consensus forecast by $0.37 million.

Acceleron Pharma (XLRN) reported a loss of $0.59 per share in its second quarter, missing consensus forecast by 9 cents. The company’s revenue for the quarter was $3.2 million, missing consensus forecast by $0.57 million.

AVEO Pharmaceuticals (AVEO) reported a loss of $0.13 per share in its second quarter, beating consensus forecast by a penny. The company’s revenue for the quarter was $0.2 million, up 53.8% on a year-over-year basis. Revenue beat consensus forecast by $0.1 million.

Trevena (TRVN) reported a loss of $0.37 per share in its second quarter, missing consensus forecast by a penny. The company reported revenue of $1.88 million, beating consensus forecast by $0.07 million.

Pacira Pharmaceuticals (PCRX) reported second-quarter earnings of $0.19 per share, beating consensus forecast by 16 cents. The company’s revenue for the quarter was $69.64 million, beating consensus forecast by $2.26 million. Revenue rose 17.7% on a year-over-year basis.

Karyopharm Therapeutics (KPTI) reported a loss of $0.84 per share in its second quarter, missing consensus forecast by 8 cents. The company reported revenue of $0.06 million, down 60% on a year-over-year basis. Revenue beat consensus forecast by $0.02 million.

Minerva Neurosciences (NERV) reported a loss of $0.18 per share in its second quarter, beating consensus forecast by 12 cents. The company ended the quarter with $88.7 million in cash and cash equivalents on its balance sheet.

Repligen (RGEN) reported earnings of $0.16 per share in its second quarter, beating consensus forecast by 3 cents. The company’s revenue for the quarter was $29.17 million, up 35.9% on a year-over-year basis. Revenue beat consensus forecast by $4.42 million.

Progenics Pharmaceuticals (PGNX) reported a loss of $0.08 per share in its second quarter, beating consensus forecast by 5 cents. The company reported revenue of $8.48 million, up 337.1% on a year-over-year basis. Revenue beat consensus forecast by $2.15 million.

Genocea Biosciences (GNCA) reported a loss of $0.39 per share in its second quarter, beating consensus forecast by 5 cents. The company’s cash balance at the end of the quarter stood at $86 million.

Ligand Pharmaceuticals (LGND) reported earnings of $0.50 per share in its second quarter, beating consensus forecast by 10 cents. The company reported revenue of $19.52 million, up 6% on a year-over-year basis. Revenue beat consensus forecast by $1.4 million.

Medgenics (MDGN) reported a loss of $0.35 per share in its second quarter, missing consensus forecast by 5 cents. The company ended the quarter with cash and cash equivalents of $53.7 million on its balance sheet.

Momenta Pharmaceuticals (MNTA) reported a loss of $0.31 per share in its second quarter, beating consensus forecast by 3 cents. The company reported revenue of $26.43 million, down 41.1% on a year-over-year basis. Revenue beat consensus forecast by $3.53 million.

Fibrocell Science (FCSC) reported a loss of $0.18 per share in its second quarter, beating consensus forecast by 33 cents. The company’s revenue for the quarter was $0.09 million, down 35.7% on a year-over-year basis. Revenue beat consensus forecast by $0.02 million.

Stemline Therapeutics (STML) reported a loss of $0.52 per share in its second quarter. The company’s revenue for the quarter was $0.24 million, up 100% on a year-over-year basis.

Juniper Pharmaceuticals (JNP) reported a loss of $0.16 per share in its second quarter, missing consensus forecast by 8 cents. The company reported revenue of $11.89 million, up 16.5% on a year-over-year basis. Revenue beat consensus forecast $2.41 million.

ANI Pharmaceuticals (ANIP) reported earnings of $1.11 per share in its second quarter, beating consensus forecast by 34 cents. The company’s revenue for the quarter was $31.34 million, up 60.6% on a year-over-year basis. Revenue beat consensus forecast by $3.71 million.

Pulmatrix (PULM) reported a loss of $0.62 per share in its second quarter. The company reported revenue of $0.26 million, up 52.9% on a year-over-year basis.

Radius Health (RDUS) reported a loss of $1.01 per share in its second quarter, missing consensus forecast by 6 cents. The company ended the quarter with $120.6 million in cash and cash equivalents on its balance sheet.

Alnylam Pharmaceuticals (ALNY) reported a loss of $1.05 per share in its second quarter, beating consensus forecast by 19 cents. The company’s revenue for the quarter was $8.71 million, up 0.2% on a year-over-year basis. Revenue beat consensus forecast by $0.62 million.

Orexigen Therapeutics (OREX) reported a loss of $1.73 per share in its second quarter, missing consensus forecast by 26 cents. The company reported revenue of $7.8 million, up 50.3% on a year-over-year basis. Revenue beat consensus forecast by $0.92 million.

BioMarin Pharmaceutical (BMRN) reported a loss of $2.61 per share in its second quarter. The company’s revenue for the quarter was $300.13 million, up 19.8% on a year-over-year basis. Revenue beat consensus forecast by $21.97 million.

ArtiCure (ATRC) reported a loss of $0.26 per share in its second quarter, beating consensus forecast by 4 cents. The company’s revenue for the quarter was $1 million, beating consensus forecast by $0.91 million.

Organovo Holdings (ONVO) reported a loss of $0.09 per share in its first quarter, beating consensus forecast by a penny. The company’s revenue for the quarter was $0.89 million, up 187.1% on a year-over-year basis. Revenue beat consensus forecast by $0.34 million.

Revance Therapeutics (RVNC) reported a loss of $0.88 per share in its second quarter, missing consensus forecast by 2 cents. The company’s revenue for the quarter was $0.08 million, in-line with the consensus forecast.

PDL BioPharma (PDLI) reported earnings of $0.09 per share in its second quarter, beating consensus forecast by a penny. The company’s revenue for the quarter was $21.05 million, down 84.8% on a year-over-year basis. Revenue missed consensus forecast by $12.41 million.

Achillion Pharmaceuticals (ACHN) reported a loss of $0.14 per share in its second quarter, beating consensus forecast by a penny. The company ended the quarter with cash and cash equivalents of $426.5 million on its balance sheet.

Juno Therapeutics (JUNO) reported a loss of $0.64 per share in its second quarter, missing consensus forecast by 23 cents. The company reported revenue of $27.6 million, up 121.5% on a year-over-year basis. Revenue beat consensus forecast by $13.34 million.

Adamas Pharma (ADMS) reported a loss of $0.76 per share in its second quarter. The company’s revenue for the quarter was $0.2 million, down 50% on a year-over-year basis.

Amyris (AMRS) reported a loss of $0.15 per share in its second quarter, missing consensus forecast by 3 cents. The company’s revenue for the quarter was $9.6 million, up 22.4% on a year-over-year basis. Revenue missed consensus forecast by $5.63 million.

Endocyte (ECYT) reported a loss of $0.33 per share in its second quarter, missing consensus forecast by 7 cents. The company’s revenue for the quarter was $0.01 million, flat on a year-over-year basis.

Cerus (CERS) reported a loss of $0.18 per share in its second quarter, missing consensus forecast by a penny. The company’s revenue for the quarter was $9.25 million, up 4.8% on a year-over-year basis. Revenue beat consensus forecast by $0.37 million.

OncoGenex Pharmaceuticals (OGXI) reported a loss of $0.23 per share in its second quarter, missing consensus forecast by a penny. The company’s revenue for the quarter was $2.12 million, down 47.4% on a year-over-year basis. Revenue beat consensus forecast by $0.95 million.

Cara Therapeutics (CARA) reported a loss of $0.48 per share in its second quarter, missing consensus forecast by 6 cents. The company’s revenue for the quarter was $0.08 million, missing consensus forecast by $0.05 million. Revenue dropped 90.8% on a year-over-year basis.

IRIDEX (IRIX) reported a loss of $0.03 per share in its second quarter, missing consensus forecast by 4 cents. The company’s revenue for the quarter was $11.9 million, up 32.2% on a year-over-year basis. Revenue was in-line with the consensus forecast.

Otonomy (OTIC) reported a loss of $0.98 per share in its second quarter, missing consensus forecast by 8 cents. The company’s revenue for the quarter was $0.08 million, missing consensus forecast by $1.33 million.

PTC Therapeutics (PTCT) reported a loss of $1.14 per share in its second quarter, beating consensus forecast by 13 cents. The company’s revenue for the quarter was $15.63 million, up 130.9% on a year-over-year basis. Revenue beat consensus forecast by $0.95 million.

TESARO (TSRO) reported a loss of $1.28 per share in its second quarter, beating consensus forecast by 43 cents. The company’s revenue for the quarter was $36.56 million, beating consensus forecast by $31.58 million.

Retrophin (RTRX) reported second-quarter earnings of $0.07 per share, beating consensus forecast by 30 cents. The company reported revenue of $33.31 million, up 38.4% on a year-over-year basis. Revenue beat consensus forecast by $0.58 million.

Ironwood Pharmaceuticals (IRWD) reported a loss of $0.16 per share in its second quarter, missing consensus forecast by a penny. The company’s revenue for the quarter was $54.35 million, up 95.9% on a year-over-year basis. Revenue missed consensus forecast by $1.11 million.

TherapeuticsMD (TXMD) reported a loss of $0.11 per share in its second quarter, missing consensus forecast by a penny. The company’s revenue for the quarter was $4.4 million, down 9.3% on a year-over-year basis. Revenue missed consensus forecast by $1.23 million.

Cytori Therapeutics (CYTX) reported a loss of $0.43 per share in its second quarter, missing consensus forecast by 4 cents. The company’s revenue for the quarter was $2.8 million, down 19.1% on a year-over-year basis. Revenue beat consensus forecast by $0.3 million.

TrovaGene (TROV) reported a loss of $0.34 per share in its second quarter, missing consensus forecast by 3 cents. The company reported revenue of $0.1 million, up 100% on a year-over-year basis. Revenue missed consensus forecast by $0.17 million.

InVivo Therapeutics (NVIV) reported a loss of $0.18 per share in its second quarter, beating consensus forecast by 4 cents.

Five Prime Therapeutics (FPRX) reported a loss of $0.49 per share in its second quarter, beating consensus forecast by 7 cents. The company reported revenue of $9.23 million, up 46.5% on a year-over-year basis. Revenue beat consensus forecast by $2.85 million.

Esperion Therapeutics (ESPR) reported a loss of $0.62 per share in its second quarter, beating consensus forecast by 16 cents. The company ended the quarter with cash and cash equivalents of $48.8 million on its balance sheet.

Dicerna Pharmaceuticals (DRNA) reported a loss of $0.75 per share in its second quarter, beating consensus forecast by 9 cents. The company ended the quarter with $29.2 million in cash and cash equivalents on its balance sheet.

Corium (CORI) reported a loss of $0.34 per share in its third quarter, beating consensus forecast by 8 cents. The company’s revenue for the quarter rose 0.1% on a year-over-year basis to $10.61 million. Revenue beat consensus forecast by $1.88 million.

Cerulean (CERU) reported a loss of $0.40 per share in its second quarter, beating consensus forecast by 8 cents. The company ended the quarter with $47.2 million in cash and cash equivalents on its balance sheet.

Raptor Pharmaceutical (RPTP) reported a loss of $0.13 per share in its second quarter, beating consensus forecast by 5 cents. The company’s revenue for the quarter was $32.05 million, up 37.4% on a year-over-year basis. Revenue beat consensus forecast by $3.53 million.

Arbutus Biopharma (ABUS) reported a loss of $0.35 per share in its second quarter, beating consensus forecast by 4 cents. The company’s revenue for the quarter was $0.3 million, down 91.2% on a year-over-year basis. Revenue missed consensus forecast by $1.42 million.

Corvus Pharmaceuticals (CRVS) reported a loss of $0.43 per share in its second quarter. The company ended the quarter with $152.2 million in cash and cash equivalents on its balance sheet.

Intellia Therapeutics (NTLA) reported a net loss of $6.9 million in its second quarter. The company’s revenue for the quarter was $4.21 million, up 205.1% on a year-over-year basis.

PharmAthene (PIP) reported earnings of $0.12 per share in its second quarter. The company’s revenue for the quarter was $2.11 million, up 83.5% on a year-over-year basis.

Mirati Therapeutics (MRTX) reported a loss of $1.11 per share in its second quarter, beating consensus forecast by 4 cents. The company ended the quarter with $91.3 million in cash and cash equivalents on its balance sheet.

Apricus Biosciences (APRI) reported a loss of $0.05 per share in its second quarter, beating consensus forecast by 3 cents. The company’s revenue for the quarter was $0.46 million, flat on a year-over-year basis. Revenue missed consensus forecast by $1.06 million.

Zafgen (ZFGN) reported a loss of $0.55 per share in its second quarter, beating consensus forecast by 11 cents. The company ended the quarter with $150.5 million in cash, cash equivalents and marketable securities on its balance sheet.

Aquinox Pharma (AQXP) reported a loss of $0.63 per share in its second quarter, missing consensus forecast by 22 cents. The company ended the quarter with cash, cash equivalents and short-term and long-term investments of $99.2 million on its balance sheet.

Tetraphase Pharmaceuticals (TTPH) reported a loss of $0.47 per share in its second quarter, missing consensus forecast by a penny. The company reported revenue of $1.24 million, down 62.9% on a basis. Revenue beat consensus forecast by $0.81 million.

Vivus (VVUS) reported a loss of $0.11 per share in its second quarter, beating consensus forecast by 20 cents. The company’s revenue for the quarter was $13.78 million, down 40% on a year-over-year basis. Revenue missed consensus forecast by $5.22 million.

OvaScience (OVAS) reported a loss of $0.62 per share in its second quarter, beating consensus forecast by 16 cents. The company reported revenue of $0.19 million, up 533.3% on a year-over-year basis. Revenue was in-line with the consensus forecast.

CTI BioPharma (CTIC) reported a loss of $0.07 per share in its second quarter. The company’s revenue for the quarter was $7.4 million, up 572.7% on a year-over-year basis. Revenue beat consensus forecast by $6.5 million.

Company (Ticker) Brokerage Action Recommendation Price Target My Price Target
Abeona Therapeutics (ABEO) Rodman & Renshaw Reiterate Buy

$17

N/A
Arbutus Biopharma (ABUS) Leerink Swann Downgrade From Outperform to Market Perform N/A N/A
Aduro Biotech (ADRO) Canaccord Genuity Reiterate Buy

$30

N/A
Advaxis (ADXS) HC Wainwright Reiterate Buy

$23

N/A
Allergan (AGN) Mizuho Price Target Raised Neutral From $232 to $246 N/A
Akorn (AKRX) Deutsche Bank Downgrade From Buy to Hold N/A N/A
Amgen (AMGN) Argus Price Target Raised Buy From $185 to $195

$250

Blueprint Medicines Corp. (BPMC) Canaccord Genuity Initiation Buy N/A N/A
Clovis Oncology (CLVS) SunTrust Banks Initiation Buy N/A N/A
Incyte (INCY) SunTrust Banks Initiation Buy N/A N/A
Inogen (INGN) Stifel Nicolaus Downgrade From Buy to Hold N/A N/A
Intra-Cellular Therapies (ITCI) Cowen and Company Reiterate Buy

$75

N/A
Ligand Pharmaceuticals (LGND) Deutsche Bank Downgrade From Hold to Sell N/A N/A
The Medicines Company (MDCO) Cowen and Company Reiterate Buy

$45

$50

Neuroscrine Biosciences (NBIX) Cowen and Company Reiterate Buy

$65

N/A
Neuroscrine Biosciences (NBIX) HC Wainwright Reiterate Buy N/A N/A
Nektar Therapeutics (NKTR) Brean Capital Reiterate Buy

$18

N/A
Intellia Therapeutics (NTLA) Jefferies Group Upgrade From Hold to Buy N/A N/A
Intellia Therapeutics (NTLA) Leerink Swann Upgrade From Market Perform to Outperform N/A N/A
PTC Therapeutics (PTCT) Wedbush Reiterate Neutral

$10

N/A
Regeneron Pharmaceuticals (REGN) Cowen and Company Reiterate Hold

$430

$475

Regeneron Pharmaceuticals (REGN) Robert W. Baird Downgrade/Price Target Cut From Outperform to Neutral From $505 to $448

$475

Teva Pharmaceutical Industries (TEVA) Mizuho Reiterate Buy

$75

N/A
Xenon Pharmaceuticals (XENE) Canaccord Genuity Reiterate Buy

$16

N/A

Immune Pharmaceuticals (IMNP)- Daniel Teper Gedeon, CEO, bought 937,500 shares at $0.38. Gedeon now owns 5,748,405 shares of IMNP. Monica E. Luchi, EVP & CMO, bought 777,778 shares at $0.45. Luchi now owns 777,778 shares of IMNP. Daniel Kazado, Director, bought 666,667 shares at $0.45. Kazado now owns 907,290 shares of IMNP.

Quotient Limited (QTNT)- Deidre Cowan, a 10% owner, bought 45,555 shares at $5.50. The total value of the transaction was $250,003. Cowan now owns 3,558,509 shares of QTNT.

No insider sells to report.

No management changes and additions to report.

NYSE- Puma Biotechnology (PBYI) shares were among the major movers on the NYSE. The stock closed 3.55% lower.
NASDAQ- Ocular Therapeutix (OCUL) shares were among the major gainers on the NASDAQ. The stock closed 34.05% higher. Catabasis Pharmaceuticals (CATB) ended the day 19.78% higher. Pacira Pharmaceuticals (PCRX) ended the day 19.05% higher. Sangamo Biosciences (SGMO) shares were among the major movers on the NASDAQ. The stock closed 28.95% lower. Vitae Pharmaceuticals (VTAE) ended the day 13.22% lower. Elmer Sciences (ALIM) ended the day 12% lower.

NYSEMKT- Palatin Technologies (PTN) shares were among the major movers on the NYSEMKT. The stock closed 3.50% higher.

OTC- Amarantus Bioscience Holdings (AMBS) shares were among the major movers on the OTC market. The stock closed 6.94% lower.

Company (Ticker) Short Interest as a % of Float % Change Days to Cover
Insys Therapeutics (INSY)

72.2%

-1%

12

Intec Pharma (NTEK) -

-25.9%

2

Intellia Therapeutics (NTLA)

7.9%

10.7%

8

Intellipharmaceutics International (IPCI)

4.8%

-6%

11

Intercept Pharmaceuticals (ICPT)

25.8%

12.5%

9

Intra-Cellular Therapies (ITCI)

15.6%

1.2%

16

InVivo Therapeutics (NVIV)

10.4%

-1.8%

10

Ionis Pharmaceuticals (IONS)

11.6%

6.6%

7

Ironwood Pharmaceuticals (IRWD)

10.8%

-4.3%

10

iBio (IBIO)

0.9%

-5.9%

4