NEW YORK, NY / ACCESSWIRE / February 15, 2017 / Biotech stocks have continued to outperform the broader markets in 2017 as an easier regulatory environment and growing speculation of mergers & acquisitions speculation have combined to provide the potential for a breakout year for the industry. The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted year-to-date gains of 9.2 percent and 14.9 percent, respectively, compared to gains of 3.75 percent and 4.41 percent for the Dow and the S&P 500.
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"We're also going to be streamlining the process, so that from your standpoint, when you have a drug you can actually get it approved, instead of waiting for many, many years," commented President Trump earlier this year on the current drug approval process. President Trump has vowed to reduce current FDA regulations by "75 to 80 percent".
"I'll oppose anything that makes it harder for smaller, younger companies to take the risk of bringing their product to a vibrantly competitive market," Trump said. "That includes price-fixing by the biggest dog in the market, Medicare, which is what's happening. But we can increase competition and bidding wars, big time."
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Cellect Biotechnology's shares surged 18.83 percent to close at $6.12 a share on Tuesday. The stock traded between $5.12 and $6.75 on volume of 1.56 million shares traded. On February 8th, the company reported that it has treated the first blood cancer patient in the Phase I/II trial of its stem cell technology ApoGraft.
Cellect CEO, Shai Yarkoni commented, "Enrolling our first cancer patient to be treated using our groundbreaking method is a critical milestone for millions of patients worldwide. ApoGraft has been proven to be effective in assisting successful stem cells transplants and preventing GvHD during our animal studies. I am excited with prospects of Cellect becoming a key contributor to the fast-growing market for stem cells based products enabling 21st century regenerative medicine."
XOMA's shares spiked 20.75 percent to close at $5.82 a share on Tuesday. The stock traded between $4.75 and $5.88 on volume 859,599 shares traded. On January 31st, the company announced that it has established proof-of-concept for its product candidate 358 in congenital hyperinsulinism (CHI) and hypoglycemia post-bariatric surgery (PBS).
"With the large unmet clinical need in patients with CHI and PBS, 358 provides a first-in-class antibody with the potential to help pediatric and adult patients properly regulate their blood glucose concentrations and prevent hypoglycemic episodes," said Eric P. Brass, M.D., Ph.D., Professor Emeritus of Medicine, David Geffen School of Medicine, University of California, Los Angeles.
On February 13, the company announced that it has agreed to sell 1.2 million of its common stock and 5,003 share of its convertible preferred stocks when converted to common stocks will result in 5,003,000 common stocks to Biotechnology Value Fund, L.P. and certain of its affiliates for total amount of $25.0 million at average price of $4.03 per common stock. The offering is expected to close on or about February 15, 2017.
Today's Features Includes:
Cellect Biotechnology Ltd. (NASDAQ: APOP)
XOMA Corporation (NASDAQ: XOMA)
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