Gainers & Losers Of Apr.26: AKBA, FLKS, BIOL, BABY, FLXN...

(RTTNews) - The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of April 26, 2017.

GAINERS

1. Akebia Therapeutics Inc. (AKBA)

Gained 33.40% to close Wednesday's (Apr.26) trading at $12.50.

News: The Company expanded its licensing deal with Otsuka related to Vadadustat.

Vadadustat is an oral hypoxia-inducible factor (HIF) stabilizer currently in phase III development for the treatment of anemia associated with chronic kidney disease.

Under the new agreement, the two companies will be collaborating to develop and commercialize Vadadustat in Europe, China and other territories.

Last December, Akebia and Otsuka signed a deal valued at over $1 billion to develop and commercialize Vadadustat in the U.S.

Under the terms of the expanded collaboration agreement, Akebia is entitled to receive $208 million or more in committed capital and $657 million in milestone payments. The expanded collaboration represents a total transaction value of approximately $865 million. Akebia is also eligible to receive tiered, double-digit royalties from Otsuka.

2. FLEX PHARMA INC. (FLKS)

Gained 15.96% to close Wednesday's trading at $3.56.

News: The Company has been given the go-ahead to commence its U.S. phase II clinical trial of FLX-787 in amyotrophic lateral sclerosis patients who suffer from cramps as a consequence of the disease.

Enrollment in the phase II trial, dubbed COMMEND, is expected to begin this summer.

FLX-787 is under exploratory phase II studies in amyotrophic lateral sclerosis and multiple sclerosis in Australia.

3. Catalyst Pharmaceuticals Inc. (CPRX)

Gained 11.45% to close Wednesday's trading at $1.85.

News: No news

Near-term catalysts:

- The Company's lead product candidate is Firdapse for the symptomatic treatment of Lambert Eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes (CMS).

Last February, the Company was issued a "Refusal to File" letter by the FDA in response to its New Drug Application for Firdapse - with the regulatory agency seeking additional supporting information.

A second phase III trial evaluating Firdapse for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) is underway. NDA submission for Firdapse is expected in second-half 2017.

4. Conatus Pharmaceuticals Inc. (CNAT)

Gained 9.84% to close Wednesday's trading at $8.26.

News: No news

The Company's lead compound is Emricasan, for the treatment of patients with chronic liver disease.

Near-term catalysts:

-- A phase IIb trial of Emricasan in NASH cirrhosis patients, dubbed ENCORE-LF, is expected to be initiated this quarter (Q2, 2017). -- Top-line data from an ongoing phase IIb trial of Emricasan in reducing hepatic venous pressure gradient in patients with compensated or early decompensated liver cirrhosis caused by nonalcoholic steatohepatitis (NASH), and severe portal hypertension, dubbed ENCORE-PH, are expected to be reported next year. -- Top-line data from a phase IIb clinical trial of Emricasan evaluating potential improvements in fibrosis and steatohepatitis in patients with fibrosis caused by NASH, dubbed ENCORE-NF, are also expected next year. -- Results after 2 years of twice-daily treatment or placebo from a phase 2b trial of Emricasan, in post-orthotopic liver transplant (POLT) recipients, dubbed POLT-HCV-SVR, are expected in the first half of 2018.

5. BIOLASE Inc. (BIOL)

Gained 9.38% to close Wednesday's trading at $1.40.

News: No news

Near-term catalyst: The Company is scheduled to report financial results for its first quarter ended March 31, 2017, on May 3, 2017.

LOSERS

1. FLEXION THERAPEUTICS INC (FLXN)

Lost 20.65% to close Wednesday's trading at $20.60.

News: The Company has announced the pricing of $175.0 million aggregate principal amount of 3.375% convertible senior notes due 2024 in a private placement to qualified institutional buyers.

The size of the offering was increased by $50 million from the previously announced offering size of $125 million.

In connection with the offering, Flexion has granted the initial purchasers of the Notes a 30-day option to purchase up to an additional $26.25 million aggregate principal amount of the Notes, solely to cover over-allotments, if any. The sale of the Notes is expected to close on May 2, 2017, subject to customary closing conditions.

2. PhaseRx (PZRX)

Lost 14.38% to close Wednesday's trading at $1.31. The stock is down for the second day in a row after Monday's (Apr.24th) gain of over 54%.

News: No news

Recent event: On Apr.24th, the European Medicines Agency granted the Company's investigational drug PRX-OTC orphan drug status for the treatment of ornithine transcarbamylase deficiency.

PRX-OTC, which is the most-advanced drug candidate in the Company's pipeline, is under IND-enabling stage.

*Ornithine transcarbamylase deficiency is an inherited disorder that causes ammonia to accumulate in the blood. (*Source: Genetics Home Reference).

3. Natus Medical Incorporated (BABY)

Lost 10.40% to close Wednesday's trading at $36.20.

News: The Company's Q1, 2017 earnings fell short of analysts' expectations.

For the first quarter ended March 31, 2017, the Company's non-GAAP net income declined to $9.8 million or $0.30 per share from $11.1 million or $0.34 per share in the first quarter 2016. The consensus forecast among analysts polled by Thomson Reuters for Natus Medical Q1 earnings was $0.33 per share.

Revenue for the first quarter of 2017 rose to $124.7 million from $87.3 million in the first quarter 2016. Analysts polled by Thomson Reuters expected the Company to report revenue of $122.59 million.