This past week was perhaps one of the biggest of the year for the biopharmaceuticals industry. While there were some winners — a few resulting for the American Society of Clinical Oncology (ASCO) annual meeting — there was a significant number of losers too. The ones that lost truly burned shareholders, whether it was due to ASCO, earnings or even unfavorable clinical trial updates.

24/7 Wall Street has picked out a few companies posting the largest losses for the week. We have included briefly why the stock is moving, as well as a recent trading history, consensus analyst price target and a 52-week trading range.

Some called this ASCO annual meeting the “Super Bowl for biotechs” because of the significance it holds for so many companies. This meeting is a major catalyst for multiple companies each year, either sending them higher, or in this context sending them lower.

ProNAi Therapeutics

Perhaps the biggest loser from ASCO thus far is ProNAi Therapeutics Inc. (NASDAQ: DNAI). The company announced interim results from the Wolverine Phase 2 trial of PNT2258 for the treatment of relapsed or refractory diffuse large B-cell lymphoma. Results from this mid-stage trial were disappointing and modest efficacy was seen, at best.

Unfortunately, ProNAi has decided to go in a different direction and is suspending its development of PNT2258 and will focus its resources elsewhere.

Over the course of the past week, the stock dropped 68.8%. Shares of ProNAi closed Friday at $1.99, with a consensus analyst price target of $11.63 and a 52-week trading range of $1.98 to $33.75.

Adamis Pharmaceuticals

Adamis Pharmaceuticals Corp. (NASDAQ: ADMP) announced that it received a Complete Response Letter from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application for epinephrine injection pre-filled single dose syringe (PFS) product.

PFS is for the emergency treatment of acute anaphylaxis, which is a severe allergic reaction. The company’s goal is to submit the protocols for these studies to the FDA within a matter of weeks and begin the testing as soon as it receives feedback.

Shares of Adamis fell 61.5% to close out the week at $3.41. The consensus price target is $17.00, and the 52-week range is $3.05 to $10.98.

Ocular Therapeutix

Ocular Therapeutix Inc. (NASDAQ: OCUL) announced top-line results from its second Phase 3 clinical trial to evaluate the safety and efficacy of Dextenza (sustained-release dexamethasone) intracanalicular depot for the treatment of ocular itching associated with chronic allergic conjunctivitis. The single primary endpoint of the trial was defined as the difference in the mean scores in ocular itching between the treatment group and the placebo comparator group.

Unfortunately, this difference did not reach statistical significance. Last week the stock dropped 46.9%. Shares closed Friday at $6.29, with a consensus price target of $36.00 and a 52-week range of $5.07 to $29.22.

Mirati Therapeutics

Mirati Therapeutics Inc. (NASDAQ: MRTX) provided a progress update on its current clinical trials and presented its Phase 1b data presented at ASCO. As part of the update for this data, the company reported that of the nine patients whose doses were reduced during the trial, two had a second dose reduction. Also, four patients had dose interruptions and three had multiple dose interruptions while on study.

Of the patients no longer on trial, five discontinued due to disease progression, two were related to aftereffects (one incidence of nausea and vomiting and one diarrhea) and one patient withdrew consent.

Shares fell 55.9% to close out the week at $8.09. The consensus analyst target is $22.86. The 52-week range is $8.09 to $52.00.

Immunomedics

Immunomedics Inc. (NASDAQ: IMMU) reported an overall response rate of 24% in assessable patients with metastatic small-cell lung cancer after receiving treatment with sacituzumab govitecan, its lead investigational antibody-drug conjugate.

Three of the eight partial responders have been confirmed with a follow-up computed tomography scan, to yield a confirmed response rate of 9%. The remaining five initial responders had progressive disease at the confirmatory scan.

Over the past week the stock dropped 32.5%. Shares closed Friday at $3.05, with a consensus price target of $5.00 and a 52-week range of $1.50 to $5.44.

Valeant Pharmaceuticals

Before the markets opened on Tuesday, Valeant Pharmaceuticals International Inc. (NYSE: VRX) reported its first-quarter financial results. The company said that it had $1.27 in earnings per share (EPS) on $2.37 billion in revenue. The consensus estimates had called for EPS of $1.37 and $2.38 billion in revenue. However the report soured when the company reported guidance.

For the 2016 full year, the company expects EPS in the range of $6.60 to $7.00 and revenues between $9.9 billion and $10.1 billion. Consensus estimates call for EPS of $8.47 on revenue of $10.86 billion for the full year.

Shares fell 16.3% last week and closed Friday at $24.15, with a consensus price target of $51.89 and a 52-week range of $22.52 to $263.81.

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Biogen

Shares of Biogen Inc. (NASDAQ: BIIB) slumped early in Tuesday’s session following the release of less-than-favorable top-line results from its mid-stage clinical study. This was part of the company’s Synergy study evaluating opicinumab, an investigational, fully human monoclonal antibody being developed as a potential neuroreparative therapy in people with relapsing forms of multiple sclerosis.

In the study, opicinumab missed the primary endpoint, a measure evaluating improvement of physical function, cognitive function and disability. However, evidence of a clinical effect with a complex, unexpected dose-response was observed. Again more bad news, as opicinumab also did not meet the secondary efficacy endpoint in Synergy, which evaluated the slowing of disability progression.

Over the past week the stock dropped 15.2%. Shares closed Friday at $246.13, with a consensus price target of $341.83 and a 52-week range of $242.07 to $420.99.

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