Why Bionano Genomics, CorMedix and Eloxx Are Moving Friday

Bionano Genomics, Inc. BNGO, CorMedix Inc. CRMD and Eloxx Pharmaceuticals, Inc. ELOX are among the health care movers Friday.

Bionano Moves On Q1 Results: Bionano reported first-quarter revenues of $3.2 million, up 179% year-over-year. The company noted revenues were up in all geographies and across both product and service businesses.

The net loss per share narrowed from 30 cents to 3 cents.

Bionano is a genomic analysis company, providing tools and services based on its Saphyr for genetic research and patient testing. It also provides diagnostic testing for those with autism spectrum disorder and other neurodevelopmental disabilities through newly acquired Lineagen, Inc.

At last check, Bionano was advancing 13.61% to $5.02.

Related Link: Attention Biotech Investors: Mark Your Calendar For May PDUFA Dates

CorMedix Moving On Timeline For DefenCath NDA Resubmission, Lukewarm Results: CorMedix reported a wider loss for the first quarter, attributing it to higher operating expenditure. The net loss per share, however, narrowed due to an increase in the number of outstanding shares.

The company revealed on its earnings call it now targets to resubmit the new drug application for DefenCath, an investigational therapy to treat catheter-related bloodstream infection in hemodialysis patients, in the fourth quarter.

The application was handed down a complete response letter in early March, with the FDA citing issues with the third-party manufacturing facility.

CorMedix is a biopharma focusing on developing therapies for infectious and inflammatory diseases.

CorMedix was plunging 25% to $5.67.

Eloxx Sinks On Common Stock Offering: Eloxx, a developer of ribosomal RNA-targeted genetic therapies for rare diseases, priced its underwritten public offering of 33.33 million shares of common stock at $1.35 per share. This is at a discount to the $1.70 at which the stock closed Thursday.

Eloxx shares were declining 20.29% to $1.35.