Following are the major micro cap losers in the biotech sector by Tuesday’s mid-day session. Keep these stocks on your radar this week.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) is one of the major losers in the biotech Sector as the stock fell 7% at $2.02. The stock saw higher than average volume with more than 4.51 million shares exchanged hands, compared to its average volume of 4.12 million shares. This morning, the company announced licensing deals for two new monoclonal antibodies (mAbs), CRB-601 and CRB-602, that target integrins to inhibit activation of transforming growth factor β (TGFβ).
This new integrin program, in addition to the existing endocannabinoid system program, strengthens and diversifies Corbus’ immunology pipeline for inflammatory, fibrotic, and metabolic diseases, and cancer.
Baudax Bio, Inc (NASDAQ:BXRX) is one of the notable losers in Tuesday’s mid-day trading session as the stock is down by 3% to $0.8753. The stock saw total volume of over 1.27 million shares exchanged hands, compared to its average volume of 1.98 million shares. Last week, the company announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 14,028,520 shares of common stock and warrants to purchase up to an aggregate of 14,028,520 shares of common stock at a purchase price of $0.85 per share and accompanying warrant in a registered direct offering.
CytomX Therapeutics (NASDAQ:CTMX) is under pressure on Friday as the stock decreased 5.32% to $4.185. After opening at $14.10, the stock has moved within a wide range of $3.9200 – 4.2700. The stock has gained 5% so far in 2021, but down 12% over the past quarter. Last week, the company announced today that based on interim pharmacokinetic (“PK”) results from the ongoing fezagepras multiple ascending dose (MAD) study, the Company has decided to stop its plans to move fezagepras into a Phase II clinical study in Idiopathic Pulmonary Fibrosis and a phase Ia/IIb study in Hypertriglyceridemia, as it evaluates the impact of the PK data profile observed in the on-going study.
