Tetralogic Pharmaceuticals Corp (NASDAQ:TLOG) is down big in morning trading, after the company released less than spectacular results for their drug birinapant.
The drug which is intended for patients with myelodysplastic syndromes, unfortunately for shareholders of Tetralogic Pharmaceuticals Corp (NASDAQ:TLOG), did not demonstrate any clinical benefit over a placebo on the primary endpoint of response rate after 4-months. However, the company still has hope for their proprietary topical HDAC inhibitor, SHAPE, which exhibited good Phase 2 results.
“Whilst the results of the birinapant study in MDS are disappointing, the results we achieved with SHAPE provide an interesting product profile with activity observed on both the CAILS and mSWAT endpoints and the potential to reduce pruritus, one of the more difficult symptoms to treat in CTCL,” said J. Kevin Buchi, TetraLogic CEO. “We are exploring our strategic alternatives based upon the results seen in these studies.”
The stock is down 71.76% or $1.22 following the news, hitting $0.48 per share. About 1.03 million shares traded hands or 313.46% up from the average. TLOG has declined 30.61% since June 3, 2015 and is downtrending. It has underperformed the S&P500 by 24.76%.
From a total of 2 analysts covering TetraLogic Pharmaceuticals (NASDAQ:TLOG) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $5 while the lowest target price is $1. The mean of all analyst targets is $1 which is 108.33% above today’s ($0.48) stock price. TetraLogic Pharmaceuticals was the topic of 4 analyst reports since December 31, 2015 according to the firm StockzIntelligence Inc. Roth Capital maintained shares on January 7 with a “Buy” rating.
The institutional sentiment decreased to 0.75 in Q2 2015. It’s down 1.36, from 2.11 in 2015Q2. The ratio dropped, as 9 funds sold all their Tetralogic Pharmaceuticals Corp shares they owned while 3 reduced their positions. 4 funds bought stakes while 5 increased their total positions. Institutions now own 5.99 million shares which is 4.78% less than the previous share count of 6.30 million in 2015Q2.
Clarus Ventures Llc holds 4.94% of its total portfolio in Tetralogic Pharmaceuticals Corp, equating to 4.64 million shares. First Washington Corp owns 319,250 shares representing 0.36% of their total US portfolio. Moreover, Alyeska Investment Group L.P. has 0% of their total portfolio invested in the company, equating to 92,225 shares. The Ontario – Canada-based Bank Of Montreal Can has a total of 0% of their portfolio invested in the stock. Bank Of New York Mellon Corp, a New York-based fund reported 121,683 shares owned.
TetraLogic Pharmaceuticals Corporation is a clinical-stage biopharmaceutical firm engaged in discovering and developing small molecule therapeutics in oncology and infectious diseases. The company has a market cap of $33.69 million. The Firm has two clinical-stage product candidates: birinapant and suberohydroxamic acid 4-methoxycarbonyl phenyl ester . It currently has negative earnings. Birinapant is a small molecule therapeutic that mimics second mitochondrial activator of caspases (SMAC-mimetic).