CHEK On Watch, ARQL Inks A Deal, RTTR To Move RP-G28 Into Phase III

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

1. Aradigm Corp. (ARDM)

Gained 20.89% to close Tuesday's (Apr.17) trading at $1.91.

News: No news

Recent events:

On January 29, 2018, the FDA issued a Complete Response Letter for the Company's New Drug Application for Linhaliq as a treatment for non-cystic fibrosis bronchiectasis (NCFBE) patients with chronic lung infections with Pseudomonas aeruginosa (P. aeruginosa).

On April 5, 2018, the Company announced that the European Medicines Agency has completed the validation of the Marketing Authorisation Application for Linhaliq. An opinion of the Committee for Medicinal Products for Human Use is expected within 210 days.

Cash position:

The Company had cash and cash equivalents of $7.1 million at December 31, 2017. While reporting its Q4 financial results last month, the Company said that it expects cash on hand to be sufficient to fund operations for Q1 2018, and that temporary measures are being implemented to preserve cash resources.

2. Check-Cap Ltd. (CHEK)

Gained 20.05% to close Tuesday's trading at $4.97.

News: No news

Check-Cap is a clinical stage medical diagnostics company developing a capsule-based system for preparation-free, colorectal cancer screening.

Recent events:

On January 10, 2018, the Company received CE Mark approval for the C-Scan system. The C-Scan system, an ingestible capsule, offers an alternative to current colon cancer screening methods that require laxative preparation and invasive endoscopic procedures.

On March 12, 2018, the Company initiated an EU post approval study using its Advanced C-Scan system.

Near-term Catalyst:

The Company is expected to initiate the US pilot trial for advanced C-Scan Version in the first half of 2018.

3. ArQule Inc. (ARQL)

Gained 17.04% to close Tuesday's trading at $3.16.

News: The Company has entered into an exclusive license agreement with Basilea Pharmaceutica International Limited to develop and commercialize Derazantinib in the US, EU, Japan and rest of the world excluding the People's Republic of China, Hong Kong, Macau and Taiwan.

ArQule is entitled to receive up to $336 million including upfront, regulatory and commercial milestone payments.

A registrational trial for Derazantinib is being conducted in the United States, Canada and Europe by ArQule as a potential treatment for intrahepatic cholangiocarcinoma (iCCA), a form of biliary tract cancer.

4. Ritter Pharmaceuticals Inc. (RTTR)

Gained 13.48% to close Tuesday's trading at $3.21.

News: No news

Recent event:

On March 23, 2018, the Company implemented a 1-for-10 reverse split of its Common Stock, par value $0.001 per share.

Near-term Catalyst:

A phase III trial of RP-G28 for patients suffering from Lactose Intolerance is expected to commence this quarter (Q2, 2018).

If approved, RP-G28 will be the first FDA-approved treatment for lactose intolerance.

5. InVivo Therapeutics Holdings Corp. (NVIV)

Gained 13.08% to close Tuesday's trading at $9.40.

News: A 1-for-25 reverse stock split of common stock came into effect on April 17, 2018.

Recent event:

On April 9, the Company announced that it is in the process of finalizing a lease assignment, expected to result in lease-related savings of roughly $3 million through 2019. In addition to the lease assignment, InVivo is undertaking other key initiatives to align its core competencies and business strategy in the most cost-efficient manner.

Based on these initiatives, InVivo projects its AVERAGE cash burn over the last three quarters of 2018 to be approximately $1 million per month, compared to an average cash burn of approximately $1.5 million per month during the last three quarters of 2017 and the first quarter of 2018.