The Biggest Pharma Stock Blowups Of 2016

Novavax, Inc. NVAX’s massive 84.5 percent Friday blowup was certainly a shock for biotech investors. However, in an industry where a company’s fate can lie primarily in a single drug candidate, blowups like Novavax’s happen all too frequently. Here’s a look at five of the biggest one-day biotech blow-ups of 2016.

Mirati Therapeutics, Inc. MRTX: -44 percent

Back in June, Mirati reported results of a Phase 1b study of its non-small cell lung cancer leading drug candidate, glesatinib. The market sure didn’t like the excessive amount of side effects, and the stock plunged.

Chiasma Inc CHMA: -63 percent

Chiasma shareholders suffered a similar fate back in April when the FDA rejected the company’s experimental pituitary gland growth disorder drug.

Related Link: The Search For Silver Linings In The Cloud Of Negative Novavax News

ProNAi Therapeutics Inc DNAI: -68 percent

ProNAi stock plummeted 68 percent in a single day back in June when the biotech company reported that it was suspending development of its leading cancer drug in light of poor trial results.

Infinity Pharmaceuticals Inc. INFI: -69 percent

Sometimes drug trial results can prove disastrous even when a company hits its target. In June, Infinity announced that its non-Hodgkin lymphoma treatment hit its primary response rate target. Unfortunately, partner AbbVie Inc ABBV was not impressed with the results and decided to pull its funding.

Novavax: -84 percent

Novavax shares plummeted Friday when the company reported that its Phase III trial of its RSV F-protein recombinant nanoparticle vaccine failed to replicate its Phase II success. Now the company and the stock are back to square one.

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