Small Cap Losers: AXSM, BLUE, AVRO
2:08 pm Monday, August 09th, 2021
Axsome Therapeutics Inc (NASDAQ: AXSM) slumped after the company announced that AXS-05 met the primary and key secondary endpoints in the Phase 2 MERIT trial and “substantially and statistically significantly prevented relapse of depressive symptoms compared to placebo in patients with treatment resistant depression.” Co further stated, among various business updates, that as part of the ongoing review of its NDA for AXS-05, the FDA recently notified co that it has identified deficiencies that preclude labeling discussions at this time; the development may lead to a delay in the potential approval of AXS-05. Co also reported Q2 results. At 52-week lows.
bluebird bio Inc (NASDAQ: BLUE) fell 25% as the company missed consensus for Q2 EPS and revs. Also announced that it received a reported Suspected Unexpected Serious Adverse Reaction of myelodysplastic syndrome, that is likely mediated by Lenti-D lentiviral vector insertion, in a patient who was treated with eli-cel over one year ago in the Phase 3 ALD-104 study; evidence suggests that specific design features of Lenti-D LVV likely contributed to this event. The FDA has placed the eli-cel program on a clinical hold. Downgraded at SVB Leerink. At multi-year lows.
Avrobio Inc (NASDAQ: AVRO) trades down to new lows on elevated volume, underperforming alongside lentiviral-based gene therapies peer bluebird bio (BLUE) following that company’s eli-cel update. Co last week reported Q2 results and today filed a corporate presentation. The stock fell 19.50%
