CORAL GABLES, FL / ACCESSWIRE / August 30, 2018 / Typically the stock market slows down toward the end of summer but this year that has not been the case. The markets are hitting all time highs and one of the top sectors leading the charge: biotechnology. Big pharma is weighing in on clinical stage companies as smaller biotechnology companies are benefiting big after multi-million dollar strategic investments and a strong M&A climate.
Furthermore, big moves by the FDA have brought even more attention to the industry as a number of investors turn their heads toward new advancements in drug therapy with new findings on things like immunotherapy and cannabinoids.
This week, GT Biopharma announced that it would be moving ahead with plans to initiate a combination trial of OXS-1550 and multi-billion dollar oncology drug that was cited as ibrutinib. From information found on the drug, ibrutinib was developed by Pharmacyclics, owned by Abbvie (ABBV) and Janssen, a Johnson & Johnson (JNJ) company.
Dr. Daniel Vallera, Director, Section of Molecular Cancer Therapeutics at the Masonic Cancer Center, University of Minnesota is heading up the project. In his own words, Dr. Vallera stated, "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."
In more recent news, Roche (RHHBY) subsidiary Genentech has entered the space for NK killer cell technology with an up front investment of $96 million in similar companies within the space. In response to this, GT Biopharma CEO, Dr. Raymond Urbanski said, "The recent collaboration, $96M upfront with $5B in milestone/royalty payments, announced on August 27th…only provides validation of the NK cell hypothesis but more specifically of the NK cell - engager concept."
Continuing strong industry news, INSYS Therapeutics, Inc. (INSY), announced today that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to the company's epinephrine nasal spray as an investigational treatment for anaphylaxis, an acute, life-threatening allergic reaction requiring urgent treatment.
Shares of the company jumped during early morning hours of the market to highs of $9.50. This was up by nearly 20% from its previous closing price. INSYS is developing a pipeline of products intended to address unmet medical needs and the clinical shortcomings of existing commercial products by using proprietary spray technology and capabilities to develop pharmaceutical cannabinoids.
Israeli-based Therapix Biosciences Ltd. (TRPX) has also begun to trade higher on Thursday. Last month the company announced positive results in its pre-clinical studies evaluating THX-160, a novel pharmaceutical CB2 Receptor agonist for the treatment of pain. The company also reported its financial summary - second quarter 2018 vs. second quarter 2017.
In it the company reported that its Phase IIa clinical study for THX-110 in TS at Yale University was completed. Sixteen patients were enrolled in the study. The Company recently reported top line results, and the results were further presented at the annual meeting of the European Society for the Study of Tourette Syndrome by principal investigator Dr. Michael Bloch.
Furthermore, a pre-clinical study evaluating the effect of the THX-130, proprietary ultra-low-dose THC, in a rodent model for cognitive impairment related to traumatic brain injury (TBI) was initiated in Dalhousie University, Halifax, Canada. Results are expected by the second half of this year.
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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.