U.S. Markets closed

Today’s Research Reports on Stocks to Watch: Immunomedics, Inc. and Axsome Therapeutics

NEW YORK, NY / ACCESSWIRE / January 10, 2018 / Shares of Immunomedics soared to a new high yesterday after the company announced on Monday that it has agreed to sell tiered, sales-based royalty rights on global net sales of sacituzumab govitecan to Royalty Pharma. Sacituzumab govitecan is an investigational antibody-drug conjugate. Shares of Axsome suffered big losses yesterday after announcing that the Independent Data Monitoring Committee has recommended the continuation of COAST-1 Trial and the discontinuation of CREATE-1 Trial.

RDI Initiates Coverage on:

Immunomedics, Inc.
https://rdinvesting.com/news/?ticker=IMMU

Axsome Therapeutics, Inc.
https://rdinvesting.com/news/?ticker=AXSM

Immunomedics, Inc. shares closed up 8.23% yesterday on nearly 4 million shares traded. The stock soared to a new high of $17.24 during intra-day trading as well, despite no big news. It was instead on Monday that the company and Royalty Pharma announced that Immunomedics has agreed to sell tiered, sales-based royalty rights on global net sales of sacituzumab govitecan to Royalty Pharma for $175 million. It was also revealed that Royalty Pharma has also purchased $75 million in common stock of Immunomedics, at $17.15 per share. This price is more than a 15% premium over the stock’s 15-day trailing average closing price. CEO of Immunomedics, Michael Pehl, remarked, "The investment by Royalty Pharma supports our stated strategy at Immunomedics of becoming a fully integrated biopharmaceutical company and a recognized leader in the field of antibody-drug conjugates."

Access RDI's Immunomedics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=IMMU

Axsome Therapeutics, Inc. shares closed down about 36% on Tuesday on a little over 4.1 million shares traded. The stock was one of the biggest decliners on the NASDAQ after the clinical-stage biopharmaceutical company announced that an independent data monitoring committee (IDMC) has conducted an interim analysis of the CREATE-1 trial of AXS-02 in complex regional pain syndrome (CRPS) as well as of the COAST-1 trial of AXS-02 in knee osteoarthritis (OA) associated with bone marrow lesions (BMLs). According to the company's press release, the IDMC has recommended that the COAST-1 trial be continued to full enrollment, and that the CREATE-1 trial be stopped for futility. Senior Vice President of Clinical Development and Medical Affairs for the company, Cedric O'Gorman, M.D. commented, "We are encouraged by the IDMC's recommendation for continuation of the COAST-1 trial, by the favorable overall clinical safety profile of AXS-02, and by the confirmation of pharmacologic activity of orally administered AXS-02 as demonstrated by its effects on serum CTx in the CREATE-1 trial." He continued, "Knee osteoarthritis associated with bone marrow lesions is a serious and potentially disabling condition with limited treatment options. The demonstrated pharmacologic activity of AXS-02 on bone resorption is relevant not only to knee osteoarthritis but to other potential indications for AXS-02."

Access RDI's Axsome Therapeutics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AXSM

Our Actionable Research on Immunomedics, Inc. (NASDAQ: IMMU) and Axsome Therapeutics, Inc. (NASDAQ: AXSM) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com