CORAL GABLES, FL / ACCESSWIRE / August 21, 2018 / Once again the biotechnology sector is heading higher. The SPDR S&P Biotech ETF (XBI), iShares NASDAQ Biotechnology Index ETF (IBB) and Health Care SPDR ETF (XLV) are all green today. This continues to support the fact that biotech stocks have enjoyed respectable gains this year.
A number of these biotechnology companies both large and small have been capitalizing on the move that the sector has been making. Much of the excitement has stemmed from new, cutting-edge research & development being undertaken by these companies. Included in this are immunotherapy companies looking to tackle the unending challenge to fight certain types of cancers along with other diseases.
GT Biopharma (GTBP) for example, recently announced that the company has a Material Transfer Agreement between a Major Pharmaceutical Company and Dr. Daniel Vallera, Director, Section of Molecular Cancer Therapeutics at the Masonic Cancer Center, University of Minnesota, has brought some attention to the company.
Under the terms of the agreement, this Company will supply a formulation of their multibillion-dollar, widely prescribed oncology drug, which has been approved for use in several hematologic malignancies to Dr. Vallera to be used in this study.
To the benefit of GT Biopharma, the initial pre-clinical work performed by Dr. Vallera suggests a much greater effect when OXS-1550 is given in combination with this established oncology drug.
Rexahn Pharmaceuticals, Inc. (NYSE American: RNN) is another clinical-stage biopharmaceutical company developing innovative, targeted therapeutics for the treatment of cancer. The company announced today that it has entered into a clinical trial collaboration agreement with Merck (MRK) to evaluate the combination of Rexahn's RX-5902 and Merck's anti-PD-1 therapy, KEYTRUDA® in a Phase 2 trial in patients with metastatic triple negative breast cancer (TNBC).
The study will evaluate the safety and efficacy of the combination of RX-5902 and KEYTRUDA in patients with metastatic TNBC who have progressed following at least one prior treatment. Under the terms of the agreement, Rexahn will sponsor the RX-5902 and KEYTRUDA study.
Shares of Galectin Therapeutics Inc. (GALT) are up on Tuesday morning. The company is a developer of therapeutics that target galectin proteins. The company has initiated Phase 3 preparation of GR-MD-02 for NASH cirrhosis. In a recent update the company stated that it has sufficient cash resources to fund operations at least through June 2019 and commenting on its second quarter, Galectin President and Chief Executive Officer Dr. Harold H. Shlevin, Ph.D. stated, "The second quarter was another active quarter with significant progress advancing our proprietary compound GR-MD-02 to a pivotal Phase 3 trial and preparing for the opportunities it represents to our business. Most importantly, we announced that we are proceeding with plans for a Phase 3 clinical trial program with GR-MD-02 in NASH cirrhosis, incorporating advice and guidance obtained in a meeting with the US Food and Drug Administration (FDA), and based on the positive effects of GR-MD-02 on HVPG and the possible prevention or postponement of development of esophageal varices in the Phase 2 NASH-CX trial, which we believe is the first large, randomized clinical trial of any drug to demonstrate a clinically meaningful improvement in these patients."
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC, Midam Ventures LLC and GT Biopharma, Midam has been paid $200,000 from the company and ZERO shares of GT Biopharma Inc. for a duration beginning July 16, 2018, and ending August 16, 2018. Midam Ventures has been paid an additional $200k by GT Biopharma and has extended its marketing period through Sept 16, 2018. We may buy or sell additional shares of (GTBP) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.