5 Top Losers In Healthcare Sector (PTE, NSPR, OTLK…)

(RTTNews) - The following are some of the healthcare stocks that posted the biggest percentage decline on Monday.

1. PolarityTE Inc. (PTE)

PolarityTE is a commercial-stage biotechnology and regenerative biomaterials company. Revenue is generated from sales of SkinTE and contract research operations.

Lost 21.19% to close Monday's (Aug.26) trading at $3.83.

News: Denver Lough, Steve Gorlin, and David Seaburg have resigned from their positions as Directors of the Company at the same time.

The remaining directors have appointed David Seaburg to the position of President of the Company. In that capacity, he will continue to serve as a member of the Office of Chief Executive for the Company.

Recent event:

On August 8, 2019, the Company reported financial results for the second quarter ended June 30, 2019.

Total revenue for the second quarter of 2019 was $1.326 million compared to $320 thousand in the year-ago quarter. Sales of SkinTE in the recent second quarter were $504 thousand, up 70% over the year-ago quarter.

The Company ended June 30, 2019, with our cash, cash equivalents and short-term investments balance of approximately $58.2 million.

2. InspireMD Inc. (NSPR)

InspireMD is a commercial-stage medical device company marketing CGuard Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of carotid artery disease, and MGuard Prime EPS in patients with coronary artery disease.

Lost 21.16% to close Monday's trading at $2.31.

News: No news

Recent event:

On August 7, 2019, the Company was notified that it does not meet a certain "NYSE American LLC continued listing standard" as it had reported stockholders' equity of less than $6 million as of June 30, 2019, and had net losses in its five most recent fiscal years ended December 31, 2018.

Near-term Catalyst:

The Company is required to submit a compliance plan to the NYSE American on or before September 6, 2019, the deadline set by the Exchange, addressing how it intends to regain compliance by August 7, 2020.

3. Outlook Therapeutics Inc. (OTLK)

Outlook Therapeutics is a clinical-stage biopharmaceutical company focused on developing its lead clinical program, ONS-5010, for the treatment of wet age-related macular degeneration (wet AMD) and other retinal diseases.

Lost 12.35% to close Monday's trading at $1.42.

News: No news

Clinical Trials & Near-term Catalysts:

The Company's lead product candidate ONS-5010 is under two phase III clinical trials for wet age-related macular degeneration, dubbed NORSE 1 and NORSE 2.

The primary data from the NORSE 1 study is expected in the third quarter of calendar 2020.

At June 30, 2019, the Company had cash of $14.0 million.

4. Global Cord Blood Corporation (CO)

Global Cord Blood Corporation is an umbilical cord blood banking operator in China with multiple licenses.

Lost 9.96% to close Monday's trading at $4.97.

News: No news

Near-term Catalyst:

The Company is slated to release financial results for the first quarter fiscal 2020 on Tuesday, August 27, 2019, after the market close.

For the fourth quarter ended March 31, 2019, revenues increased by 8.0% year over year to RMB251.7 million ($37.5 million) from RMB232.98 million in the year-ago quarter.

5. Livongo Health Inc. (LVGO)

Livongo Health offers a consumer-first, data-driven digital health platform that is designed to empower people with chronic conditions to live better and healthier lives. The Company derives revenue from sales of its hypertension, prediabetes and weight management, and behavioral health solutions.

Lost 9.96% to close Monday's trading at $4.97.

News: No news

Recent event:

The Company went public on the Nasdaq Global Select Market on July 25, 2019, offering its shares at a price of $28.00 per share.