NEW YORK, NY / ACCESSWIRE / February 6, 2017 / The Biotech Industry has experienced some steep losses in recent years, but has begun to show some signs of stabilization in 2017. The Industry was home to some impressive gains for investors from early 2013 to about the halfway mark of 2015. Over that period, the major biotech ETFs skyrocketed more than 150 percent. In comparison the S&P 500 Index posted a gain of approximately 50 percent during the same period. The iShares Nasdaq Biotechnology Index ETF and the SPDR S&P Biotech ETF have risen 6.7 percent and 11.5 percent, respectively year-to-date. The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF both fell approximately 40 percent from their peak in mid-July 2015 through February 2016.
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One of the biggest catalysts for impressive gains in the biotech industry has been acquisition talks. There were 326 biotech mergers & acquisitions deals completed in 2016, which were worth a total of approximately $91 billion. Experts have forecasted that number to rise in 2017 as a recent Deloitte study showed research & development productivity of 12 of the biggest biopharma companies fell to a 7-year low in 2016. Additionally, the study showed that the top 14 biopharma firms with the most cash held a total of $220 billion in cash and marketable securities at the end of the third quarter 2016.
Let's Take a Closer Look at Today's Trending Biotech Tickers
Stemline Therapeutics' shares spiked 16.96 percent to close at $6.55 a share Friday. The stock traded between $5.80 and $7.25 on volume of 1.71 million shares traded. Stemline is a clinical stage biopharmaceutical company developing novel oncology therapeutics. Stemline is developing three clinical stage product candidates, SL-401, SL-801, and SL-701.
On January 18, the Company received a report that a patient death had occurred during its ongoing pivotal Phase 2 trial of SL-401. The patient had developed capillary leak syndrome (CLS), a known, sometimes fatal, and well-documented side effect of SL-401. TheStreet has reported that the company did not disclose the incident to investors prior to its $45 million in stock offering at $10.00 a share on January 19th. On February 4th, the law firm of Kessler Topaz Meltzer & Check, LLP announced that a shareholder class action lawsuit has been filed against Stemline Therapeutics, Inc. on behalf of purchasers of the company's during class period (January 19th to February 1st).
Esperion Therapeutics shares surged 29.25 percent to close at $16.44 a share Friday. The stock traded between $13.41 and $16.50 on volume 3.13 million shares traded. Esperion is committed to developing and commercializing convenient, complementary, cost-effective, once-daily, oral therapies for the treatment of patients with elevated low-density lipoprotein cholesterol (LDL-C). On January 25th, the company announced completion of patient enrollment in the global pivotal Phase 3 long-term safety and tolerability study of bempedoic acid.
"The study was designed by our team of lipid management experts primarily to understand the long-term safety and tolerability of bempedoic acid and to also measure the percent change in LDL-C and other key lipid measures of patients at various time points throughout the duration of the 52-week study. We look forward to sharing top-line results by the second quarter of next year," said Tim M. Mayleben, President and Chief Executive Officer of Esperion.
Today's Features Includes:
Stemline Therapeutics Inc. (NASDAQ: STML)
Esperion Therapeutics Inc. (NASDAQ: ESPR)
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