PTIE Gains Most, TLRY On A High, TNXP At Ease

(RTTNews) - The following are some of today's top gainers in the pharma/biotech sector.

1. Pain Therapeutics Inc. (PTIE)

Gained 76.58% to close Wednesday's (Aug 15) trading at $1.96.

News: The National Institutes of Health has awarded the Company a $3.2 million clinical research grant to support a Phase II study with PTI-125, a drug candidate to treat Alzheimer's disease.

Initiation of the Phase II study is expected in Q4 2018.

2. Citius Pharmaceuticals Inc. (CTXR)

Gained 24.06% to close Wednesday's trading at $1.65.

News: The Company announced that it has completed the largest capital raise in its history of $10 million, and insiders were responsible for supporting 50% of the raise.

Pipeline:

A phase III trial of Mino-Lok Therapy in combination with systemic antibiotics in the treatment of catheter-related bloodstream infections enrolled the first patient as recently as February of this year. This trial is planned to enroll 700 patients in 50 participating institutions, all located in the U.S. There will be interim analyses at the 50% and 75% point of the trial as measured by the number of patients treated.

Also in the pipeline is CITI-001 (Halo-Lido) to treat hemorrhoids, which has successfully completed a phase IIa study.

3. Tilray Inc. (TLRY)

Gained 20% to close Wednesday's trading at $29.10.

News: Citron Research has named "Tilray as the next in line in a budding cannabis industry", and has assigned a share price of $45 for its stock in its report.

The report comes on the heels of Constellation Brands taking a 9.9% percent stake in Canopy Growth Corp. by investing an additional $4 billion. Like Canopy Growth Corp, Tilray is also a cannabis company.

4. Arsanis Inc. (ASNS)

Gained 18.82% to close Wednesday's trading at $2.21.

News: No news

Recent events:

-- On August 13, the Company reported financial results for the second quarter ended June 30, 2018.

Net loss for the recent second quarter was $12.1 million or $0.85 per share compared with a net loss of $5.7 million or $11.13 per share for the second quarter of 2017. As of June 30, 2018, the Company had cash and cash equivalents of $49.9 million.

-- On August 10, the Company announced its plan of eliminating 19 positions, representing approximately 44% of its workforce. The implementation of the reduction in workforce is expected to be completed by the fourth quarter of 2018. -- On June 28, the Company announced the discontinuation of its Phase 2 clinical trial of ASN100 for the prevention of S. aureus pneumonia in high-risk, mechanically ventilated patients due to futility, sending the stock down over 78% to $3.95.

5. Tonix Pharmaceuticals Holding Corp. (TNXP)

Gained 13.73% to close Wednesday's trading at $1.16.

Pipeline:

The lead product candidate is Tonmya, or TNX-102 SL, which is in phase III development for military-related post-traumatic stress disorder (PTSD).

News: The Company will be presenting findings and retrospective analyses from the Phase 3 HONOR study and Phase 2 AtEase Study in a poster at the 2018 Military Health System Research Symposium (MHSRS) on August 21.

AtEase is a Phase 2 dose-finding clinical study of TNX-102 SL in military-related post-traumatic stress disorder. The Company reported positive results from this study in May 2016.

In July of this year, the Company announced that it will stop the Phase 3 HONOR study due to inadequate separation from placebo on the primary endpoint at week 12.

Near-term Catalyst:

The Company will be meeting with the FDA in October to discuss a new Phase 3 study of Tonmya for the treatment of PTSD. The new phase III study may be initiated as early as 2019.

6. Translate Bio Inc. (TBIO)

Gained 11.18% to close Wednesday's trading at $11.73.

News: No news

Recent event:

The Company went public on the Nasdaq Global Select Market as recently as June 28, 2018, offering its shares at a price of $13.00 each.

Translate Bio has a multi-year research and development collaboration and exclusive licensing agreement with Sanofi Pasteur to develop mRNA vaccines for up to five undisclosed infectious disease pathogens. The Company is eligible to receive up to $805 million in payments, which includes an upfront payment of $45 million, and is also entitled to receive tiered royalty payments associated with worldwide sales of the developed vaccines.

Pipeline:

-- MRT5005, for the treatment of cystic fibrosis, or CF, under a Phase 1/2 clinical trial. -- MRT5201, for the treatment of ornithine transcarbamylase, or OTC, a genetic disease, which is expected to enter Phase 1/2 clinical testing in the first half of 2019.