Catalyst Pharmaceuticals and ZIOPHARM Oncology Bounce Up On FDA Phase News
NEW YORK, NY / ACCESSWIRE / March 28, 2017 / As FDA Phase trials continue, the two biopharmaceutical companies received positive feedback from the FDA and investors responded by adding shares of stock to their portfolios. Both companies' stock rose to double digit percentages on the trading day.
RDI Initiates Coverage:
Catalyst Pharmaceuticals Inc. https://ub.rdinvesting.com/news/?ticker=CPRX
ZIOPHARM Oncology Inc. https://ub.rdinvesting.com/news/?ticker=ZIOP
Catalyst Pharmaceuticals began liftoff as its stock price rose 18.24 % to close at $2.01 on Monday. The stock traded between $2.065 and $1.63 on volume of 4,485,126 shares traded. On March 15th, the company reported successful top-line results from MuSK-MG trial, an investigator-sponsored, proof of concept trial evaluating Firdapse which treats patients afflicted with myasthenia gravis. The condition, which is an autoimmune neuromuscular disease, that only affects a patient's voluntary muscle movement, is the result of a breakdown in a person's normal communication process between nerves and muscles.
On March 15th when the company reported its 4th quarter and full year 2016 financials, it had a net loss of $18.1 million for the whole year of 2016, which was $2.1 million less than it had reported a year ago. R&D expenses were reduced by roughly $500,000, $11.37 million, in 2016 compared to $11.8 million reported in year 2015. Catalyst had $40.4 million cash available on its books as on December 31st, 2016.
Access RDI's Catalyst Pharmaceuticals Research Report at: https://ub.rdinvesting.com/news/?ticker=CPRX
ZIOPHARM Oncology advanced 13.78% to close at $6.69 on Monday. The stock traded between $6.89 and $5.79 on volume of 4,775,772 shares traded. News of the company's successful end-of-phase meeting with the for its Phase 2 trial of Ad-RTS-hIL-12 Gene Therapy in Recurrent Glioblastoma sparked the stock's consistent rise throughout the day. ZIOPHARM received positive guidance from the FDA and was encouraged to continue its development of its lead candidate drug.
In corporate news, the company announced the appointment of Amy Trevvett as the Vice President of Investor Relations and Corporate Communications. Ms. Trevvett was brought in to increase the level of transparency of the company's operations to investors, as Caesar Belbel, Executive Vice President, COO, and Chief Legal Officer said, "As part of our focus on communications with our shareholders and the investment community, we will be hosting quarterly conference calls beginning this May, in conjunction with our first quarter 2017 earnings report."
Access RDI's ZIOPHARM Oncology Research Report at: https://ub.rdinvesting.com/news/?ticker=ZIOP
Our Actionable Research on Catalyst Pharmaceuticals Inc. (NASDAQ: CPRX) and ZIOPHARM Oncology Inc. (NASDAQ: ZIOP) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
