The following are some of the stocks that lost the largest percentage in price today in the pharma/biotech sector.
1. Shineco Inc. (TYHT)
Gained 32.26% to close Tuesday’s (Feb.13) trading at $2.05.
News: The Company reported financial results for the second quarter ended December 31, 2017.
Shineco is a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and other health and well-being focused plant-based products in China.
Net income attributable to Shineco for the three months ended December 31, 2017, increased to $3.60 million or $0.17 per share on revenue of $14.13 million. This compared with a net income of $2.85 million or $0.14 per share and revenue of $11.22 million for the same period of last year.
2. Catabasis Pharmaceuticals Inc. (CATB)
Gained 24.80% to close Tuesday’s trading at $1.56.
News: The Company reported new positive efficacy and safety results from open-label extension of its phase II trial evaluating Edasalonexent in Duchenne Muscular Dystrophy, dubbed MoveDMD.
According to the new data, Edasalonexent preserved muscle function and substantially slowed Duchenne Muscular Dystrophy disease progression through more than 1 year of treatment. Edasalonexent continued to be well tolerated with no safety signals observed in the trial, noted the Company.
The results from the MoveDMD trial were first reported last October, and they showed that Edasalonexent substantially slowed Duchenne Muscular Dystrophy disease progression through 36 Weeks.
— Catabasis plans to initiate a single global Phase 3 trial with Edasalonexent in patients with DMD regardless of mutation type in the first half of 2018 with top-line results expected in 2020.
3. Axovant Sciences Ltd. (AXON)
Gained 17.92% to close Tuesday’s trading at $1.81.
News: No news
— On February 12, 2018, the Company announced changes to management team and Board of Directors.
The Company’s CEO David Hung, President and COO Marion…