3 Biotech Stocks to Watch at The End of July
CORAL GABLES, FL / ACCESSWIRE / July 30, 2018 / Biotechnology stocks have been surging since early April. At that time, the Nasdaq Biotechnology ETF (IBB) was trading at levels just shy of $100. Today the IBB trades well over $100 and several biotech stocks have helped bolster this rally. Despite recent market volatility, there are a number of small cap biotech stocks that investors may be watching at the end of July to see what may be on the horizon for the new month ahead.
GT Biopharma (GTBP) is an immuno-oncology biotechnology company focused on innovative treatments based on the company's proprietary platforms. The recent news that GT Biopharma signed an agreement with a Major Pharmaceutical Company to study its drug candidate OXS-1550 in combination with a Multi-Billion Dollar Oncology Drug on the 19th may have helped increase interest in this company. As to who this "Major Pharma Company" is still yet to be revealed but there is a seeminly endless list of companies that have some type of involvement in this particular area of interest.
In addition to the company's latest developments, GT's initiative to build value also has encompassed its share position as well. Specifically, the company announced in June that the officers, non-independent directors of the Company and a significant founding shareholder of GT Biopharma's predecessor companies have entered into lock-up agreements in respect of approximately 52% (26 million) of the issued and outstanding common shares of the Company, effective immediately. This "lock-up" stipulates that these shareholders will not offer to sell, contract to sell or otherwise dispose of any securities, or enter into any transaction to such effect, directly or indirectly, in addition to other restrictions, on or before September 31, 2019.
Shares of GT Biopharma are up by more than 63% since July 9.
For More information On GT Biopharma, Click Here
Cormedix Inc. (CRMD) has also been gaining attention in the market as of late. The company is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease. Last week Cormedix announced that the independent Data Safety Monitoring Board has completed its review of the interim analysis of the data from the currently ongoing Phase 3 LOCK-IT-100 study for Neutrolin®.
"We are thrilled to have received the DSMB's recommendation that efficacy has been demonstrated. Once we have submitted the interim analysis results and DSMB's recommendation to the FDA, we will begin the dialogue on the appropriate next steps," said Khoso Baluch, Chief Executive Officer of CorMedix in a press release.
For More Information On Cormedix, Click Here
Celgene Corporation (CELG) rounds out the list after a recent week of big news. The company reported second-quarter profit and revenue beats and upbeat 2018 guidance. Adjusted earnings-per-share were $2.16, above the FactSet consensus of $2.11. The adjusted EPS results included dilution from Celgene's Juno Therapeutics acquisition. Revenue rose to $3.81 billion from $3.27 billion, above the FactSet consensus of $3.70 billion. Sales of Revlimid, Pomalyst and Vidaza came in above the FactSet consensus, while sales of Otezla and Abraxane missed the consensus.
Shares continued up sharply during Monday's morning session, hitting highs of 88.84.
For More Information On Celgene Corporation, Click Here.
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