NEW YORK, NY / ACCESSWIRE / April 5, 2017 / On Tuesday, Benitec Biopharma and Paratek Pharmaceuticals both reported FDA trial results and investors moved quickly to take advantage of the good news. Volume was extremely high for the two stocks.
RDI Initiates Coverage:
Benitec Biopharma Ltd. https://ub.rdinvesting.com/news/?ticker=BNTC
Paratek Pharmaceuticals Inc. https://ub.rdinvesting.com/news/?ticker=PRTK
Benitec Biopharma advanced 34.39% to close at $4.10 a share on Tuesday. The stock traded between $3.42 and $5.48 on volume of 19.41 million shares traded. The company announced that it had published scientific data in Nature Communications, which supported its novel approach to treatment of oculopharyngeal muscular dystrophy, a type of rare muscle-wasting disease that is progressive in nature.
Investor financials show that the company has generated very little revenues from licensing its technology, and it reported a net loss of $24.8 million in its latest year-end reporting for fiscal year 2016. The current cash position does not practically allow Benitec to follow through with FDA testing protocols, so raising money to pursue clinical trials will be the key to turning today's news into a profit.
Access RDI's Benitec Biopharma Research Report at: https://ub.rdinvesting.com/news/?ticker=BNTC
Paratek Pharmaceuticals advanced 22.85% to close at $22.85 a share on Tuesday. The stock traded between $22.65 and $25.00 on volume of 9.12 million shares, more than 20 times its average trading volume. Shares soared as Paratek reported that it achieved all of its Phase III FDA trial goals for its omadacycline drug in patients who have community-acquired bacterial pneumonia. There were early response rates of 81.1% versus 82.7% for competitor drug moxifloxacin.
Moxifloxacin was developed first by Bayer AG and there are currently generic brands available from companies such as Dr. Reddy's Laboratories, Mylan and Teva Pharmaceuticals. Administration of Paratek's trial drug is through an IV-to-oral medication compared to a daily pill. Its clinical success rate is 2% to 3% higher than moxifloxacin. Today's announcement means that Paratek will be able to file an application with the FDA for approval, the earliest time will be the first quarter of 2018.
Access RDI's Paratek Pharmaceuticals Research Report at: https://ub.rdinvesting.com/news/?ticker=PRTK
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