NEW YORK, NY / ACCESSWIRE / April 21, 2017 / The Biotech Industry posted better gains this year as the "price gouging" concerns, which were a major problem for the industry in 2016, appears to have subsided. Additionally, the number of new drug approvals appears to be trending upwards in 2017. There have already been 14 new novel drug approvals in 2017, compared to just 22 new approvals in all of 2016.
The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted year-to-date gains of 9.41 percent and 15.9 percent, respectively, compared to gains of 4.13 percent and 5.23 percent for the Dow Jones Industrial Average and the S&P 500 Index.
RDI Initiates Coverage on:
Idera Pharmaceuticals Inc.
ZIOPHARM Oncology Inc.
Idera Pharmaceuticals' shares increased 3.56 percent to close at $2.33 a share on Thursday. The stock traded between $2.24 and $2.39 on volume of 1.09 million shares traded. On April 11th, the company announced the successful completion of the phase 1 portion of the ongoing Phase 1/2 clinical trial of intratumoral IMO-2125. Intratumoral IMO-2125 is an agonist of TLR9, in combination with ipilimumab for the treatment of anti-PD-1 refractory metastatic melanoma. Shares of Idera Pharmaceuticals have gained approximately 55.33 percent year-to-date.
"We are very pleased with the progress to date in the Phase 1 dose escalation trial of IMO-2125 in combination with ipilimumab, and with the outcomes observed," stated Joanna Horobin, M.B., Ch.B., Idera's Chief Medical Officer. "IMO-2125 in combination with ipilimumab demonstrated preliminary evidence of meaningful clinical activity in this anti-PD-1 refractory metastatic melanoma patient population which represents a high unmet medical need."
Access RDI's Idera Pharmaceuticals Research Report at:
ZIOPHARM Oncology's shares gained 0.28 percent to close at $7.10 a share on Thursday. The stock traded between $7.08 and $7.33 on volume of 1.22 million shares traded. The company's pipeline includes a number of cell-based therapeutics in both clinical and preclinical testing which are focused on hematologic and solid tumor malignancies. ZIOPHARM is scheduled to present updated results from its Phase 1, multicenter, dose-escalation study of Ad-RTS-hIL-12 + orally administered veledimex in patients with recurrent or progressive glioblastoma at the 2017 American Society of Clinical Oncology (ASCO) Annual Meeting Chicago on Monday, June 5th. Shares of ZIOPHARM Oncology have gained approximately 32.71 percent year-to-date.
Access RDI's ZIOPHARM Oncology Research Report at:
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