SELB Fails To Impress, NVUS Faces Busy Year Ahead, NTGN Down 43% This Month

(RTTNews) - The following are some of the pharma/biotech stocks that posted the biggest percentage decline today.

1. Selecta Biosciences Inc. (SELB)

Lost 33.36% to close Tuesday's (Oct.23) trading at $8.87.

News: The Company presented new interim data from a phase II trial of SEL-212, a product candidate in development for the treatment of chronic severe gout designed to lower serum uric acid (SUA).

The interim data reveals that evaluable patients who achieved 3-month of SUA control have maintained SUA control in months 4 and 5 of SEL-212 therapy.

2. Chembio Diagnostics Inc. (CEMI)

Lost 18.52% to close Tuesday's trading at $8.05.

News: The Company has commenced a $25 million public offering of common stock. The underwriters have a 30-day option to purchase up to an additional 15% of the number of shares of its common stock sold in the offering.

Recent event:

On October 22, the Company announced that it expects revenue for the third quarter of 2018 to be in the range of $9.2 million to $9.4 million, compared to $7.6 million in the prior year period.

The same day, it also signed a definitive agreement to acquire opTricon GmbH, a privately-held developer and manufacturer of hand-held analyzers for rapid diagnostic tests, for $5.5 million in cash. The transaction is expected to close on October 31, 2018, subject to standard closing conditions.

3. Novus Therapeutics Inc. (NVUS)

Novus is a specialty pharmaceutical company focused on developing products for patients with disorders of the ear, nose, and throat.

Lost 18.01% to close Tuesday's trading at $3.46.

News: No news

Pipeline:

The lead product is OP-02, a drug-device product being developed as a first-in-class treatment option for otitis media.

Near-term Catalysts:

-- The Company is planning to initiate its first-in-human clinical studies with OP-02 in healthy adults in q4, 2018. -- A phase I study of OP-02 in children with otitis media with effusion, and a phase I study in adults with acute otitis media are expected to be initiated in the first half of 2019. -- Top line data from the phase I studies expected in the first half of 2019.

4. Neon Therapeutics Inc. (NTGN)

Lost 12.80% to close Tuesday's trading at $6.61.

Neon is a clinical-stage immuno-oncology company developing neoantigen-targeted therapies.

The Company's most advanced product candidate is NEO-PV-01, a personal neoantigen vaccine, under phase I trials.

Neon shares debuted on The Nasdaq Global Select Market on June 27, 2018, at an offering price of $16.00 each.

News: No news

Recent event:

On October 22, the Company presented updated data from the ongoing phase Ib clinical trial evaluating NEO-PV-01 in patients with metastatic melanoma, NSCLC, and bladder cancer.