2 Biotech Stocks To Watch After Positive Pre Market News
CORAL GABLES, FL / ACCESSWIRE / March 26, 2018 / Last week, the markets saw a major pullback amid fears of potential trade wars. But heading into Monday's opening bell, optimism is much more prevalent. The Wall Street Journal reported that U.S. and Chinese officials are working to improve U.S. access to China's markets.
But it isn't just the overall markets that are seeing a bullish response. The biotechnology sector has seen a rapid recovery during premarket trading as well. In fact, as of 8:30AM EST shares of the NASDAQ Biotechnology Index (IBB) were up by more than 2% from Friday's low.
This being the case, several biotech companies have released positive pre-market news to go along with this market rally. These include GT Biopharma (GTBP) and Akers Biosciences (AKER), which have both made positive announcements before the opening bell on Monday.
GT Biopharma (GTBP) ("GTBP") has been growing a large pipeline of therapies for numerous diseases. This morning, the company announced that it has completed the analysis of pharmacokinetic data from its Phase 1 clinical trial for GTP-004, its promising treatment for the symptoms of myasthenia gravis. GT Biopharma owns the worldwide rights to commercialize GTP-004 and intellectual property protection including composition of matter patents on the combination.
Based on these and additional data from the Phase 1 clinical trial, GP Biopharma expects to potentially accelerate the start of its Phase 2 trial. Since late Thursday afternoon (3/22), GT Biopharma has been on a rebound path having moved up by nearly 10% by Friday's closing bell.
GT Biopharma Chief Executive Officer, Shawn Cross, said, "These results provide additional 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 are working diligently to accelerate this program and be in a position to begin a Phase 2 clinical trial in patients in the third quarter of 2018."
For More on GT Biopharma, Click Here For Your Full Report.
Also making headlines this morning is Akers Biosciences, Inc. ("AKER"). The company announced that it has entered into a three-year National Distribution Agreement with Diagnostica Stago, Inc. for the sale of the Company's flagship rapid test for Heparin-induced thrombocytopenia across the US.
Stago will be marketing and selling Akers Bio's PIFA PLUSS PF4™ Rapid Assay, a single-use test for the detection of Platelet Factor 4 antibodies using a whole blood sample, to its broad customer base of hospital laboratories.
John J. Gormally, Chief Executive Officer of Akers Bio, commented, "The addition of Stago to our growing and distinguished distributor network is a significant milestone in the commercialization of PIFA PLUSS PF4™. Stago is a recognized leader in the field of hemostasis and has a very large and established customer base to which to market our product. Through Stago, Akers Bio will gain access to a dedicated and specialized sales team who are focused exclusively on buyers of hemostasis-related products. Akers Bio is excited about the potential for near-term US sales growth through this new, additional, and specialized channel to market."
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