Why Cocrystal Pharma, Chemocentryx, Neuronetics And BioLineRx Are Moving Today

Cocrystal Pharma, Inc. COCP, ChemoCentryx, Inc. CCXI, Neuronetics, Inc. STIM and BioLineRx Ltd. BLRX are among the biggest health care movers Tuesday.

Cocrystal Shines On COVID-19 Pipeline: Cocrystal, a clinical-stage biotech engaged in the development of anti-viral therapeutics, announced Monday it is aggressively developing novel coronavirus protease inhibitors for COVID-19 prophylactic and therapeutic use.

"These drug candidates bind to a highly conserved region of the active site of SARS-CoV-2 protease that is required for SARS-CoV-2 viral replication," the company said.

Due to their novel mechanism of action, these protease inhibitors are likely to be effective against new variants of SARS-CoV-2, it added.

After a muted reaction on Monday, the stock has taken off Tuesday. Reacting to the announcement, H.C. Wainwright analyst Raghuram Selvaraju reiterated a Buy rating and a $4.50 per share.

Cocrystal shares were soaring 120.97% to $2.74.

Chemocentryx Sinks On Mixed Review By FDA Staffers Ahead of Adcom Meeting: Briefing document released ahead of FDA's Arthritis Advisory Committee meeting to discuss Chemocentryx' regulatory application for avacopan for the treatment of anti-neutrophil cytoplasmic antibody-associated vasculitis showed that the investigational asset produced mixed results with respect to the primary endpoints.

The superiority test comparing the sustained remission rates at Week 52 between the avacopan group and the prednisone group, one of the primary endpoints, was statistically significant. However, on the other primary endpoint of remission at Week 26, the superiority test was not statistically significant.

The Arthritis Advisory Committee meeting will consider points discussed in the briefing document before announcing its recommendation on Thursday.

Chemocentryx was plunging 46.56% to $26.09.

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Neuronetics Gains On Q1 Results: Neuronetics, a MedTech company, developing products for improving the quality of life of people suffering from psychiatric disorders, reported an increase in its first-quarter revenues from $11.5 million in 2020 to $12.3 million in 2021, ahead of the consensus estimate of $11.58 billion. The net loss per share narrowed from 68 cents to 31 cents, in line with estimate.

Neuronetics was adding 23.55% to $12.54.

BioLineRx Rallies On Data Readout: BioLineRx announced positive top-line results from the GENESIS Phase 3 trial evaluating its lead clinical candidate, Motixafortide, in combination with granulocyte colony stimulating factor, the standard-of-care, for hematopoietic stem-cell mobilization for autologous bone marrow transplantation in multiple myeloma patients.

BioLineRx is an oncology-focused clinical-stage biopharma based out of Israel.
BioLineRx shares were jumping 68.47% to $5.37.