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:
Immune Pharmaceuticals Inc.
Aurinia Pharmaceuticals Inc.
Immune Pharmaceuticals' shares soared 49.59 percent to close at $3.65 a share on Thursday. The stock traded between $3.41 and $5.02 on volume of 19.75 million shares traded. On April 20th, the company announced that it has signed a letter of intent with Pint Pharma GmnH for the exclusive license by Pint of the rights to commercialize Ceplene, a treatment for Acute Myeloid Leukemia (AML), throughout Latin America, including Argentina, Brazil, Chile, Colombia and Mexico. "In conjunction with the anticipated final agreement, Pint will make an investment of $4 million into Immune Pharma's oncology subsidiary, Cytovia, Inc. to be used by Cytovia exclusively for oncology related activities." Immune wrote in a press release. Shares of Immune Pharmaceuticals have gained approximately 0.27 percent year-to-date.
"We are excited about the possibility of partnering with Pint Pharma, a market leader in Latin America with strong commercialization capabilities in the field of oncology. Pint Pharma's desire to bring Ceplene/IL-2 immunotherapy to patients in Latin America complements our strategy," said Dr Daniel Teper, CEO of Immune.
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Aurinia Pharmaceuticals' shares increased 1.16 percent to close at $7.00 a share on Thursday. The stock traded between $6.85 and $7.13 on volume of 5.32 million shares traded. On April 17th, the company announced a licensing deal with Merck Animal Health for the worldwide rights to develop and commercialize Aurinia's patented nanomicellar voclosporin ophthalmic solution (VOS) for the treatment of dry eye syndrome in dogs. Shares of Aurinia Pharmaceuticals have gained approximately 233.33 percent year-to-date.
"This partnership with Merck Animal Health underscores our long-standing belief that voclosporin has the potential to be effectively used across a range of therapeutic areas, in addition to its primary potential indication for the treatment of lupus nephritis," said Richard Glickman, Aurinia's CEO and Chairman of the Board. "In addition to enhancing dry eye treatment options in the animal health field, VOS has a differentiated product profile with long patent life that has the potential to compete in the multi-billion dollar human prescription dry eye market."
Access RDI's Aurinia Pharmaceuticals Research Report at:
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