Biotech Stocks Take Aim At New Highs In August 2018
CORAL GABLES, FL / ACCESSWIRE / August 28, 2018 / August has been full of excitement within the biotech sector of the market. All ETF's tracking related stocks have been heading higher this month. Yesterday, the Health Care SPDR ETF (XLV) hit fresh highs during early trading as sector stocks helped lead the charge for record highs in the overall markets. The healthcare sector has been an investor favorite in times of global trade crisis.
According to analysts, "Health-care stocks hauled in $800 million, leading the sector to see a total of $5.5 billion in inflows for the past three months. The S&P health-care sector has been the top performer so far this quarter. The fund amassed about $872.20 million in assets and was up about 9% past three months (as of Aug 17, 2018)."
Heading into the last few days of August, stocks in this industry remain in focus; many of which are making major announcements to close out the month.
This morning, clinical stage company GT Biopharma (GTBP) announced the initiation of a combination trial of OXS-1550 and multi-billion dollar oncology drug, owned by a major Pharmaceutical Company. Dr. Daniel Vallerawho is heading this effort said, "Based on our exciting preliminary in vitro experiments, the initial preclinical work suggests a much greater effect when OXS-1550 is given with this drug. We are very excited about our progress with GT's OXS-1550 (DT2219) combined with ibrutinib, a potent small molecule Bruton Tyrosine Kinase (BTK) inhibitor which is already an established chemotherapeutic agent. We believe combination therapies like these that kill cancer cells based on entirely different mechanisms are the future of cancer treatment."
Ibrutinib was developed by Pharmacyclics up to Phase II, then partnered with Johnson & Johnson. Pharmacyclics was acquired by AbbVie (ABBV) in May 2015. According to reports from Abbvie, the company recorded 2017 full-year Global IMBRUVICA Net Revenues of $2.573 Billion, which was an increase of 40.5%.
Furthermore, GT Biopharma's TriKE and TetraKE product candidates utilize the natural killer (NK) stimulating cytokine human IL-15 as a crosslinker between the two scFvs which is designed to provide a self-sustaining signal leading to the proliferation and activation of NK cells thus enhancing their ability to kill cancer cells mediated by antibody-dependent cell-mediated cytotoxicity.
For More Information On GT Biopharma, Click Here.
In similar fashion, Abbvie (ABBV) is also making headlines this week. The company has received FDA approval of its supplemental New Drug Application for Imbruvica (ibrutinib) to treat a rare type of cancer. AbbVie said its Imbruvica in combination with Roche Holdings AG (RHHBY) Rituxan has been approved for treating adult patients with Waldenstrom's macroglobulinemia,a rare and incurable type of non-Hodgkin's lymphoma.
"Ibrutinib has significantly advanced the treatment of Waldenström's macroglobulinemia. The approval of ibrutinib and rituximab has added a new option for many Waldenström's patients," said Steven P. Treon, M.D., Ph.D., Director of the Bing Center for Waldenström's Macroglobulinemia at the Dana-Farber Cancer Institute, Associate Professor at Harvard Medical School, and lead investigator of the IMBRUVICA Phase 2 clinical trial.
For More Information On Abbvie, Click Here.
In addition to these biotech companies, Affimed (AFMD) has begun to trend after attracting interest from private company Genentech. The company grabbed a $96 million upfront and near-term financing opportunity to partner with the cancer team at Genentech on its natural killer (NK) cell platform for cancer.
Affimed is eligible for up to an additional $5.0 billion including milestone payments, and royalties on sales. Furthermore, Genentech, a member of the Roche Group, which recently completed a combination therapy study with Abbvie mentioned above.
Affimed will apply its proprietary Redirected Optimized Cell Killing (ROCK®) platform, which enables the generation of both NK cell and T cell-engaging antibodies, to discover and advance innate immune cell engager-based immunotherapeutics of interest to Genentech.
For More Information On Affimed, Click Here
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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.
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