Nivalis Therapeutics, Inc. | $NVLS Stock | Shares Fall On Announcement That Drug Study Has Failed


Nivalis Therapeutics, Inc. (NASDAQ: NVLS)



Nivalis Therapeutics, Inc. (NVLS), a clinical-stage pharmaceutical company yesterday announced their results for their phase 2 cystic fibrosis drug has failed. The study showed that the drug failed to reach its primary endpoints in the clinical trial.


Nivalis Therapeutics, Inc. CEO’s Comments

“While we are disappointed in the outcome of this trial, we plan to continue to investigate the therapeutic potential of cavosonstat and our S-nitrosoglutathione reductase (GSNOR) inhibitor portfolio to  determine  next steps,” said Jon Congleton, president and chief executive officer of Nivalis.  Globe Newswire


NVLS Technical Analysis

Nivalis Therapeutics

NVLS opened trading yesterday at $6.32 which was up from the previous day’s trading close of $6.28. NVLS closed trading yesterday at $6.25 and crashed down after market to $2.95, equivalent to a 53% decrease from the closing price. Taking a look at the daily chart we can see that we are in unchartered territory as NVLS is now trading at all time lows Taking a closer look at the daily chart we can see that before the spike down NVLS had already been in an overall downward trend dating back to September 20th when it traded at $34.60. NVLS has a float of 6.93 million shares and traded below the normal daily trading volume on Monday. For trading purposes, I would like to see NVLS open trading on Tuesday below $4 and if it does I would be looking to take a short position at the bell. My stop loss would be $0.40 from my entry position fearing anything more than that and the stock would start to fill in the gap down. My friend Ross over at Warrior Trading is applying his Day Trading Strategies to these types of stocks.


Company Profile

Nivalis Therapeutics, Inc., incorporated on March 30, 2007, is a clinical-stage pharmaceutical company. The Company discovers, develops and commercializes product candidates for patients with cystic fibrosis (CF). The Company focuses on utilizing its S-nitrosoglutathione reductase (GSNOR) inhibitor portfolio to develop therapeutics for other diseases. The Company operates through discovering and development of potential drugs segment. The Company’s operations are focused on discovery and development of its portfolio of GSNOR inhibitors, including N91115. GSNOR inhibitor portfolio includes other compounds with differing chemical structures and properties suitable for oral, inhaled, injectable and topical administration. Its drug candidate portfolio consists of multiple compounds, which are designed for oral, intravenous (IV) or inhaled administration. The Company’s product candidate, N91115, is a small molecule compound that addresses a defect in the cystic fibrosis transmembrane conductance regulator (CFTR) resulting from mutations in the CFTR gene, the underlying cause of CF. It has completed a Phase Ib clinical trial to evaluate the safety of N91115 in adult CF patients homozygous for F508del. The Company is conducting a Phase II clinical trial designed to demonstrate the safety of a triple therapy of N91115 along with lumacaftor/ivacaftor in over 130 adult CF patients homozygous for F508del. The N91115 development program is focused on demonstrating the clinical benefit of a triple CFTR modulator therapy for CF patients homozygous for F508del. The Company competes with Vertex Pharmaceuticals, Inc., PTC Therapeutics, Novartis, Pfizer, Galapagos, ProQR Therapeutics, Flatley Discovery Labs, Parion Sciences, Concert, Proteostasis, Calista, Shire, Gilead Sciences, AbbVie, AmpliPhi Biosciences and F. Hoffmann LaRoche.  Reuters