Financials of Aurinia Pharmaceuticals and Catalyst Pharmaceuticals are Getting Stability
NEW YORK, NY / ACCESSWIRE / March 21, 2017 / Both companies achieved their stability in different ways, but still achieved the same end. That achievement was reflected in their rise in stock prices at Monday's close. In the biotech sector, financial stability is important for any company to have a chance at seeing their developmental candidates get FDA approval and surge to profitability. For some biotech companies, being able to financially survive through the end of the calendar year is a significant achievement. Sometimes being the only biotech company to pursue a niche treatment has great potential to pay off.
RDI Initiates Coverage:
Aurinia Pharmaceuticals Inc. https://ub.rdinvesting.com/news/?ticker=AUPH
Catalyst Pharmaceuticals Inc. https://ub.rdinvesting.com/news/?ticker=CPRX
Aurinia stock made a major move on Monday, closing at $8.78 per share, up from a Friday close of $7.70 per share. The $1.08 advance was credited in large part due to the company's decision to close $25.645 million common share public offering including fully exercise of its Underwriters' Option to buy additional common stock for a total gross proceed of $173.1 million. The company is in the process of developing their candidate drug voclosporin, which is targeted for the treatment of lupus nephritis. A number of investment rating firms have raised their "sell" rating to a "hold" in November last year and one company maintaining their "buy" rating in March this year, with majority of firms reiterating ratings as "outperform" in February and March this quarter. The company had about 16 percent of its share in the hand of institutional investors as of December 31, 2016 and numbers of share purchase positions by institutional investors were far higher than number of share sell positions in the quarter. Investors like NEA management and Goldman Sachs have increased their positions in the company in the quarter ending in December.
Access RDI's Aurinia Pharmaceuticals Research Report at: https://ub.rdinvesting.com/news/?ticker=AUPH
Catalyst was up 12 cents Monday from a daily high of $1.81 a share. After hours trading showed a continued rise in the company's stock price. Catalyst Pharmaceuticals is a biopharmaceutical company that is currently focused on the development of innovative treatments dealing with rare neuromuscular and neurological diseases. Positive news from FDA Phase 2 trials brought investors and stakeholders up to date with the current progress of its Firdapse(R) (Amifampridine Phosphate) treatment for myasthenia gravis patients. There is no FDA approved therapy for this specific form of MG currently on the market.
Access RDI's Catalyst Pharmaceuticals Research Report at: https://ub.rdinvesting.com/news/?ticker=CPRX
Our Actionable Research on Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) and Catalyst Pharmaceuticals Inc. (NASDAQ: CPRX) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
