Market Overview

12 Biggest Mid-Day Losers For Monday

  • Horizon Pharma PLC (NASDAQ: HZNP) shares dipped 31.4 percent to $10.69 as the company posted downbeat Q1 earnings and lowered its FY 2017 guidance. The company also announced plans to acquire River Vision for $145 million in cash.
  • TherapeuticsMD Inc (NYSE: TXMD) shares tumbled 18.2 percent to $3.82 after the company after the company announced it has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration. The letter is in response to the company's New Drug Application (NDA) for its investigational applicator-free estradiol vaginal softgel capsule called TX-004HR. TherapeuticsMD said in its press release that while the letter didn't identify any issues related to the efficacy of the therapy, the FDA couldn't approve TX-004HR at this time. Specifically, the FDA cited a lack of long-term endometrial safety data beyond the 12-week period, which was explored in a Phase 3 clinical study called Rejoice Trial.
  • Innodata Inc (NASDAQ: INOD) shares dropped 15.3 percent to $1.65. Innodata reported a Q1 loss of $0.07 per share on sales of $15 million.
  • Kite Pharma Inc (NASDAQ: KITE) shares declined 13.1 percent to $71.07 as the company posted a wider-than-expected Q1 loss.
  • Workhorse Group Inc (NASDAQ: WKHS) shares fell 12.2 percent to $3.18. Workhorse Group is expected to report Q1 financial results on Wednesday, May 10, 2017.
  • Akari Therapeutics PLC (ADR) (NASDAQ: AKTX) shares dropped 11.7 percent to $11.64.
  • Aralez Pharmaceuticals Inc (NASDAQ: ARLZ) shares tumbled 11.7 percent to $1.28.
  • Eyegate Pharmaceuticals Inc (NASDAQ: EYEG) shares fell 8.2 percent to $1.90. EyeGate Pharmaceuticals reported Q1 net loss of $2.9 million on revenue of $0.19 million.
  • Digi International Inc. (NASDAQ: DGII) declined 8 percent to $9.85. Belden Inc. (NYSE: BDC) disclosed that it has rescinded its proposal to acquire Digi International for $13.82 per share in cash.
  • Hercules Capital Inc (NYSE: HTGC) shares dropped 5.1 percent to $12.34. Wunderlich downgraded Hercules Capital from Buy to Hold.
  • Melco Resorts & Entertainment Ltd(ADR) (NASDAQ: MLCO) shares fell 4.7 percent to $21.29 after the company reported the launch of an offer of ADSs and ordinary shares and concurrent repurchase of ordinary shares.
  • LyondellBasell Industries NV (NYSE: LYB) shares declined 2.2 percent to $82.31. Analysts at Bank of America downgraded LyondellBasell from Neutral to Underperform.

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