NEW YORK, NY / ACCESSWIRE / March 13, 2017 / The World Health Organization reports that approximately 8.8 million deaths a year are due to cancer. This opens the door for research into cancer therapeutics and biotherapeutics, both which are intended to positively impact the immune system and slow down development of cancer cells. An approved drug can result in millions in profits for the research company.
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Protalix Biotherapeutics closed up 14 cents a share on Friday, to $1.18. An Israeli-based pharmaceutical company, it has a number of existing drugs on the market, including Uplyso and Elelyso in Central and South American countries. The bump in price is based on the upcoming March 16th press release of the full results of the Phase 2 testing of its Cystic fibrosis drug candidate, AIR DNAse. On January 27th, Canadian owned Knight BioTherapeutics, a new institutional investor for the company took on a 5 percent common stock investment in Protalix by purchasing 6.2 million shares of the company at $0.57 a share. The 52 week high for the stock is $1.48.
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Stemline Therapeutics had a mixed bag of stock news in recent months, seeing its shares rise 95 cents a share to $9.75 and having gained 42.3 percent in past month. On February 4th, a class action lawsuit filed against it making claims of providing misleading information to investors before offering of new shares and/or failing to disclose that a cancer patient in a Stemline clinical trial tied to SL-401 died from a severe side effect. The stock had hit a 2017 low back in February, but since then the stock has seen a steady rise in its stock price. Stemline is a biopharmaceutical research company that currently is in the Phase 2 stage of its oncology experimental compound, SL-401. The 10 percent increase in stock value is accompanied by a projected loss per share of 55 cents as compared to loss of 58 cents reported in same quarter year ago. Stemline CEO Ivan Bergstein, M.D. is scheduled to present the latest Phase 2 results at the 29th Annual ROTH Conference on Monday, March 13th.
A number of investment advisory firms have given Stemline a "buy" rating, with one lowering its rating to "hold."
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Protalix Biotherapeutics Inc. (NYSE MKT: PLX)
Stemline Therapeutics Inc. (NASDAQ: STML)
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