NEW YORK, NY / ACCESSWIRE / August 15, 2017 / It was a big trading day for both Marinus Pharmaceuticals and CEL-SCI Corporation on Monday. CEL-SCI shares were on the rampage to a new high after the FDA has removed its clinical hold on the company's pivotal phase 3 cancer study of Multikine which is an immunotherapy intended to harness a patient's own immune system to produce an anti-tumor response. Shares of Marinus also climbed to a new high despite any big news but traders may be feeling encouraged about the company's ganaxolone, an anxiolytic and anticonvulsant agent.
RDI Initiates Coverage on:
Marinus Pharmaceuticals, Inc.
Marinus Pharmaceuticals, Inc.'s shares hit a new 52-week high of $3.10 yesterday and closed the day up 16.94%. The stock was one of the biggest winners on the NASDAQ on Monday despite no significant news from the company to explain the big jump. The company released its second quarter earnings results earlier this month and reported a loss of$0.21, beating the analyst expectations of $0.27 loss by $0.06. The company is dedicated to the development of innovative therapeutics to treat epilepsy and neuropsychiatric disorders. Perhaps traders are still enthusiastic about the company announcing top-line data from its phase 2 trial evaluating children with CDKL5 disorder this quarter.
CEO Christopher M. Cashman commented in the company's earnings release, "This quarter Marinus significantly advanced the development of ganaxolone, which positions us to achieve several value-creating milestones in the second half of this year. With intravenous dosing occurring in our Magnolia study and plans to initiate the Amaryllis study with ganaxolone capsules, we are well positioned to evaluate inpatient and outpatient treatments with ganaxolone in women diagnosed with both severe and moderate PPD."
"We expect to announce top-line data from our Phase 2 trial evaluating children with CDKL5 disorder this quarter. We are interested in ganaxolone's anti-seizure and anti-anxiety activity in improving the quality of life for these children and their families who suffer from seizure and behavioral co-morbidities."
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CEL-SCI Corporation's shares were skyrocketing on Monday, closing the day up 29.87%. Shares hit a high of $3.69 during intra-day trading on nearly 3.8 million shares traded. This was a significant boost from the stock's average volume of a little under 1.9 million. The big move came after the company announced that it has received a letter from the FDA that states the clinical hold it had on CEL-SCI's Phase 3 cancer study with Multikine has been removed. All clinical trial activities under this Investigational New Drug application (IND) may resume. Investors are optimistic about Multikine as it is being studied as a potential first-line immunotherapy that can harness the patient's own immune system to produce an anti-tumor response.
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