109.59 +3.34 (3.14%)
Pre-Market: 4:03AM EDT
|Bid||0.00 x 900|
|Ask||0.00 x 2200|
|Day's Range||105.43 - 108.52|
|52 Week Range||92.15 - 123.92|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-10.65%|
|Beta (5Y Monthly)||0.92|
|Expense Ratio (net)||0.47%|
Biotech stocks went along with the broader market flow in the week ended April 3, with the COVID-19 pandemic dictating sentiment. The week witnessed a host of clinical readouts and pre-announcements in light of the COVID-19 impact.The stock that made headlines during the week was Amarin Corporation plc (NASDAQ: AMRN), which slumped on an adverse court ruling.The following are catalysts that could impact biotech stocks in the unfolding week.The focus is likely to stay on pre-clinical and clinical updates from companies developing therapies and/or vaccines for SARS-CoV-2. More companies are expected to update investors with preliminary first-quarter results that factor in the COVID-19 impact.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Conferences * Goldman Sachs Cell Therapy Day: April 6 * 2020 Wells Fargo Biotech Virtual Corporate Access Day: April 7 in Boston, Massachusetts * Canaccord Genuity Horizons in Oncology Virtual Event: April 8 in Boston * 2020 Wells Fargo Biotech Virtual Corporate Access Day: April 9 in San Francisco, CaliforniaClinical Readouts Menlo Therapeutics Inc (NASDAQ: MNLO): top-line data from two ongoing serlopitant Phase 3 studies in pruritus associated with prurigo nodularis (late March/early April)Oragenics Inc (NYSE: OGEN): Results from the Phase 2 study of AG013 in oral mucositis (early 2020)Earnings * AngioDynamics, Inc. (NASDAQ: ANGO) (Tuesday after the close) * PAVmed Inc (NASDAQ: PAVM) (Thursday after the close)IPOs Keros Therapeutics, which develops therapies for hematological and neuromuscular disorders, plans to offer 5 million shares in an IPO priced between $14 and $16. The company has applied to list its shares on the Nasdaq under the ticker symbol "KROS."IPO Quiet Period Expiry Imara Inc (NASDAQ: IMRA)Related Links:Attention Biotech Investors: Mark Your Calendar For These April PDUFA Dates10 Biotech Winners And Losers In Q1See more from Benzinga * The Daily Biotech Pulse: Fate Therapeutics Inks Cell Therapy Deal With J&J, Zentalis IPO * The Daily Biotech Pulse: Novartis Scraps Deal To Sell Sandoz Assets, Nevro Pre-Announces Q1 Shortfall, Affimed Granted Orphan Drug Designation * 10 Biotech Winners And Losers In Q1(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The life-sciences sector will emerge as a winner from the current crisis, says Eli Casdin, founder of Casdin Capital. Why Chinese biotechs look appealing
Shares of Novavax Inc. rocketed 37% in premarket trading Tuesday, after the biotechnology company said its NanoFlu treatment for seasonal flu achieved all primary endpoints in a phase 3 trial for adults 65 an older. NanoFlu was well tolerated and had a safety profile comparable to Fluzone Quadrivalent. "These strong Phase 3 results align with and validate our previous clinical trials, in which NanoFlu showed higher HAI antibody responses than the leading flu vaccine for older adults," said Chief Executive Stanley Erck. "We expect that both Fast Track designation and the accelerated approval pathway from the FDA will help Novavax bring NanoFlu to market as quickly as possible to address the serious public health threat of influenza." The stock has nearly tripled (up 169%) over the past three months through Monday, while the iShares Nasdaq Biotechology ETF has lost 21.1% and the S&P 500 has shed 30.6%.
The onslaught of the novel coronavirus has preoccupied everybody over the last few weeks, and the health-care sector has been ground zero for their concerns. As venues, companies, and universities shut down, experts worry the U.S. health care system isn’t prepared for an exponential rise in cases of COVID-19. Health-care stocks have dropped, too, as investors try to figure out which companies will be most hurt by the emerging pandemic.
Shares of Spherix Inc. soared 21% in active morning trading Friday, after the biotechnology company said it executed an exclusive option agreement with the University of Maryland, Baltimore for the technology in the patent for "Methods of Treating Coronavirus Infection." Trading volume swelled to 2.2 million shares, already more than the full-day average of 1.2 million shares. The company said the invention was made with support awarded by the National Institutes of Health, which has certain rights in the invention. Under terms of the option, Spherix said it has until the end of May to execute a license agreement for commercial development. The stock has lost 23% over the past three months, while the iShares Nasdaq Biotechnology ETF has slipped 2.5% and the S&P 500 has shed 6.9%.
Shares of Biocept Inc. plummeted 42% on very heavy volume in morning trading Monday, after the provider of liquid cancer tests announced the pricing of stock offering at a deep discount. The company said it agreed on the issuance and sale of 23 million shares of common stock to several institutional investors, which would increase the shares outstanding by about 54%, according to FactSet data. The offering was priced at 40 cents a share, or 49% below Friday's closing price of 78 cents. The pricing was announced after the stock rocketed 169% on Friday. Maxim Group is the sole placement agent for the offering. Trading volume ballooned to 45.4 million shares, enough to make the stock the most actively traded on major U.S. exchanges, and well above the full-day average of about 6.1 million shares. The stock has now lost 57% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has gained 0.4% and the S&P 500 has advanced 6.4%.
Shares of Israel-based Enlivex Therapeutics Ltd. rocketed 53% in active premarket trading Monday, after the clinical-stage immunotherapy company said it has started a plan to increase its manufacturing capacity of Allocetra, following the first confirmed case of COVID-19 in Israel. Trading volume rose to about 76,000 shares, compared with the full-day average of about 17,000 shares. Allocetra is being studied for the treat of patients with organ failure associated with sepsis, which the company said the lethal pathophysiology, which is cytokine storm followed by organ failure, is similar to that of COVID-19. The stock has run up 19.6% over the past three months through Friday, while the iShares Nasdaq Biotechnology ETF has gained 6.7% and the S&P 500 has advanced 7.3%.
Shares of Brickell Biotech Inc. were vaulted 61% higher on very heavy volume, putting them on track for the biggest one-day gain since the biopharmaceutical company went public 27 years ago, after the company announced positive results from a Phase 2 study of its treatment for excessive sweating, suggesting Phase 3 studies were warranted. Trading volume ballooned to over 30.9 million shares, compared with the full-day average of about 374,000 shares. Brickell said before the open that a Phase 2b trial of its sofpironium bromide gel produced "clinically and statistically significant sustained reductions in sweating severity," and was well tolerated. That suggests Phase 3 studies are warranted. "These study results give us the confidence to continue to advance the development of sofpironium bromide," said Chief Research and Development Officer Deepak Chadha. The stock, which has now nearly tripled (up 171%) in four sessions, has still lost 60% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has gained 11% and the S&P 500 has climbed 21%.
Non-alcoholic steatohepatitis, or NASH, is a metabolic disorder caused by a buildup of fat in the liver, leading to liver inflammation and damage. It belongs to a group of conditions called non-alcoholic ...
Biotech stocks have come under some selling pressure in the new year. However, January did witness some strong stock-specific upward moves, especially with stocks leveraged to the Wuhan coronavirus epidemic. ...
Shares of Artelo Biosciences Inc. shot up 44% in very active trading Monday, after the biopharmaceutical company announced that the National Cancer Institute awarded a $4.2 million grant to advance its cancer-treatment program. Trading volume swelled to 8.3 million shares, compared with the full-day average of about 78,200 shares. Artelo, which is focused on developing therapeutics that modulate the endocannabinoid system, said the 5-year grant is intended to support research at Stony Brook University, in collaboration with Artelo and Cold Spring Harbor Laboratory, for the development of its fatty acid binding protein 5 (FABP5) inhibitor platform. "Modulating lipid signaling has the potential to be the next revolution in cancer therapeutics," said Artelo Chief Executive Gregory Gorgas. "We believe this grant is significant validation of our platform and supports the next steps in our collaborative efforts to develop FABP5 inhibitors as potential treatments for various cancers, as well other possible applications including inflammation and pain." The stock has still lost 66% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has gained 4.7% and the S&P 500 has climbed 20%.
Shares of Vaxart Inc. rocketed 54% on heavy volume in afternoon trading, putting them on track for the first close above the $1 mark in nearly 10 months, after the biotechnology company said it "initiated" a program to develop a coronavirus vaccine. Trading volume was inflated to 57.7 million shares, compared with the full-day average over the past 30 days of 3.7 million shares. The company said it will develop a vaccine candidate based on its oral vaccine platform, VAAST, which it has used to conduct multiple clinical trials. "We believe our oral tablet vaccines provide substantial potential advantages, especially when targeting mucosal pathogens such as flu, norovirus, RSV and the recently emerged coronavirus,"said Chief Executive Wouter Latour. "In addition, the logistical advantages of an oral vaccine that is administered using a convenient room temperature-stable tablet could be of critical benefit when rolling out a major public health vaccination campaign." The stock has now run up 251% over the past three months, while the iShares Nasdaq Biotechnology ETF has gained 5.6% and the S&P 500 has tacked on 6.5%.
The earnings call comes amid the ongoing drama over the fate of aducanumab, the Alzheimer’s disease drug that seemed to fail in two trials last spring, before Biogen reversed course in the fall.
Despite concerns of a spreading coronavirus out of China, biotechnology stocks and sector-related ETFs are not enjoying the usual bump on hopes of developing new treatments to counter the contagion. Among the worst performing non-leveraged ETFs of Friday, the Virtus LifeSci Biotech Clinical Trials ETF (BBC) declined 3.4% and SPDR S&P Biotech ETF (XBI) decreased 3.2%. Meanwhile, the more broadly watched iShares Nasdaq Biotechnology ETF (IBB) fell 2.5%.
Biotech stocks had a fairly decent run in 2019, thanks to record deal flow , several path-breaking innovation in drug research & development and the positive broader market sentiment. New molecular entity ...
Shares of Clovis Oncology Inc. soared 22% in very active premarket trading Wednesday, after the biopharmaceutical company said the supplemental new drug application (sNDA) for its prostate cancer treatment Rubraca has been granted priority review status by the Food and Drug Administration. Trading volume swelled to over 2.9 million shares, compared with the full-day average of 10.7 million shares. "Recently presented data suggests that Rubraca may play a meaningful role in the treatment of patients with BRCA1/2-mutant recurrent, metastatic castrate-resistant prostate cancer, and this filing represents an important milestone for Clovis as it brings us one step closer to potentially making this valuable therapy available," said Chief Executive Patrick Mahaffy. "We are encouraged by the FDA's decision to grant priority review to the Rubraca application, which focuses on eligible patients with advanced prostate cancer, for whom new treatment options are very much needed." The stock has nearly tripled (up 177.7%) over the past three months through Tuesday, while the iShares Nasdaq Biotechnology ETF has advanced 18.2% and the S&P 500 has gained 9.6%.
The 38th annual JPMorgan Healthcare Conference, which is tipped off as the biggest health care investment symposium, kicks off Monday in San Francisco, California. From the high and mighty to the smallest ...