NEW YORK, NY / ACCESSWIRE / June 16, 2017 / The Biotech Industry has continued to outperform the broader markets till now in 2017. Biotech companies appear to be benefiting from a speedier FDA approval process in 2017. There have already been 21 new Novel Drug Approvals so far in 2017, compared to just 22 new approvals in all of 2016.The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted year-to-date gains of 10.71 and 20.88 percent, respectively, compared to gains of 8.08 percent and 8.65 percent for the Dow Jones Industrial Average and the S&P 500 Index.
RDI Initiates Coverage on:
Adamis Pharmaceuticals Corp.
Arena Pharmaceuticals, Inc.
Adamis Pharmaceuticals' shares soared 53.33 percent to close at $5.75 a share on Thursday. The stock traded between $3.60 and $5.90 on volume of 12.44 million shares traded. On June 15th, the company announced that its epinephrine pre-filled syringe, seen as a competitor to Mylan's EpiPen, has received FDA approval. Shares of Adamis Pharmaceuticals have gained approximately 82.54 percent year-to-date.
"We are very excited by this approval, and at the same time, are already preparing to submit our second NDA to the FDA. This second submission is for the junior version of Symjepi. We are committed to helping patients by providing them with additional therapeutic choices. With an anticipated lower cost, small size and user-friendly design, we believe Symjepi could be an attractive option for a significant portion of both the retail (patient) and non-retail (professional) sectors of the epinephrine market," commented Dr. Dennis J. Carlo, President and CEO of Adamis.
Access RDI's Adamis Pharmaceuticals Research Report at:
Arena Pharmaceuticals' shares declined 6.67 percent to close at $1.26 a share on Thursday. The stock traded between $1.22 and $1.33 on volume of 4.64 million shares traded. The company's President and Chief Executive Officer, Amit Munshi, is scheduled to present a corporate update at the JMP Securities Life Sciences Conference on Wednesday, June 21st at the St. Regis in New York City. Shares of Arena Pharmaceuticals have fallen approximately 11.27 percent year-to-date.
"With important clinical data expected over the rest of the year, 2017 promises to be an exciting time for Arena as we focus on driving long-term shareholder value through the continued advancement of our innovative pipeline," commented Munshi in Arena's first quarter earnings release. "Our focus for the coming months is to continue to execute across all aspects of our business, including generating top-line readouts for our three proprietary Phase 2 compounds, beginning with ralinepag in July."
Access RDI’s Arena Pharmaceuticals Research Report at:
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