CORAL GABLES, FL / ACCESSWIRE / January 9, 2018 / The biotech industry continues to be a good sector for investments. This has been based on traders' expectations that the number of mergers and acquisitions, as well as FDA approvals, will ramp up in 2018. Though iShares Nasdaq Biotechnology ETF pulling back slightly from October highs during the fourth quarter of last year, the ETF still ended 2017 with a more than 18% gain. This is in line with the general market, explained K.C. Ma, director of the Roland George investments program at Stetson University in Deland, Fla.
According to reports, the FDA is also taking more "aggressive" steps to increase the speed of new and generic drug approvals. This could quickly boost the positive outlook for the sector as well. With this being the case, two biotechnology stocks that have begun to capture attention this week are GT Biopharma (OTCQB:GTBP) and Pain Therapeutics (PTIE).
This morning GT Biopharma ("GTBP") announced that it has completed dosing in its Phase 1 clinical trial for GTP-004. The treatment is for symptoms of myasthenia gravis and the findings show that GTP-004 enables the safe and well-tolerated administration of doses of pyridostigmine. GT Biopharma owns the worldwide rights to commercialize GTP-004.
GT Biopharma Chief Executive Officer, Dr. Kathleen Clarence-Smith, said, "These are early results, but the data provide evidence of the ability of GTP-004 to avoid the GI side effects of administering pyridostigmine alone and offer hope to all those suffering from myasthenic syndromes. We expect to be in a position to begin a Phase 2 clinical trial in patients in the second half of 2018."
Monday saw the company's most active trading session in over 6 months with the stock closing at $4.50 and opening at $4.70 on Tuesday morning. Since announcing the company's application to list on Nasdaq, the overall market activity has seen an increase. For a full report on GTBP, click here.
Similarly, Pain Therapeutics, Inc. ("PTIE") announced positive results from a human abuse potential study of its late-stage drug candidate, REMOXY. "We believe these data indicate REMOXY may have limited nasal abuse potential relative to comparator drugs," said Remi Barbier, President & CEO. "We have now successfully completed all studies necessary to resubmit the REMOXY NDA to the FDA, and plan to do so shortly."
According to the company, the study results indicate that in non-dependent, recreational opioid users, nasal administration of REMOXY resulted in significantly lower abuse potential compared to immediate-release oxycodone. As of the opening bell, shares of Pain Therapeutics has reached highs of $7.39 compared to a previous close of $4.45.
An affiliate of biotech stocks, MAPH ENTERPRISES LLC., a Florida Corporation, has been compensated $150,000.00 by a GT Biopharma Inc. for a period beginning Jan 1, 2018 and ending Feb. 1, 2018 to publicly disseminate information about GTBP. We own zero shares.
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