5 Top NASDAQ Biotech Stocks: GW Pharmaceuticals Spikes on Positive Results

The NASDAQ Biotechnology index (INDEXNASDAQ:NBI) was only 1.80 percent higher on Friday, closing for the week at 2,630.32 points. 
Last week was a good week for top gainer GW Pharmaceuticals (NASDAQ:GWPH). Rounding off the top five gainers on the NASDAQ was CASI Pharmaceuticals (NASDAQ:CASI), MannKind (NASDAQ:MNKD), Genvec Inc (NASDAQ:GNVC) and Aradigm Corp (NASDAQ:ARDM).

GW Pharmaceuticals

Earlier this week the Investing News Network reported on the impressive 120 percent gains achieved by cannabinoid pharmaceutical company GW Pharmaceuticals. The company saw its share price rise this week on the back the positive results from its Phase 3 Study with Epidolex in the treatment of Dravet syndrome.
“The results of this Epidiolex pivotal trial are important and exciting as they represent the first placebo-controlled evidence to support the safety and efficacy of pharmaceutical cannabidiol in children with Dravet syndrome, one of the most severe and difficult-to-treat types of epilepsy,” said Orrin Devinsky, the company’s managing director, in a press release.
On Friday, GW had posted an 89.08 percent gain for the week. The company closed at $72.72.

CASI Pharmaceuticals

Looking to commercialize therapeutics that address cancer and other unmet medical needs for the global market, with a primary focus on China, CASI Pharmaceuticals gained 68.59 percent last week. The company has posted no material news since mid- January, however, earlier this week Zacks Investment Research upped their financial year 2015 EPS estimates for the company. The firm is expecting CASI to post earnings of ($0.24) per share for the year, which is up from the previously forecast ($0.27).
CASI ended the week at $1.45.

MannKind

Valencia, California headquartered MannKind is a biopharmaceutical company with the AFREZZA, rapid-acting inhaled insulin aimed at improving glycemic control in adults with diabetes.
The company announced its 2015 fourth quarter results this week as well as its full year financial results earlier in the week, which contributed to its gains. However, as Modest Money reported this week, the company’s results were not all that great, missing analyst’s expectations. The company noted in its release this week that
Still, despite missing the mark, the company saw a 50.38 percent gain last week. The answer to the boost, as Modest Money explains, is simple. “Afrezza was improved, investors proved to be overwhelmingly excited about it.” Indeed, it seems that MannKind’s treatment could be a revolutionary step in the way diabetes is treated.

GenVec

Making a repeat appearance on the week’s top gainers list was GenVec, a clinical-stage gene delivery company, GenVec is focused on developing a pipeline of cutting-edge therapeutics and vaccines using its proprietary AdenoVerse gene delivery platform.
Following the release of its fourth quarter and full year financial results for 2015, GenVec was upgraded to ‘buy’ by Zacks  Investment Research.
Last week, the company’s share price increased  by 49.25 percent. The company ended the week at $1.00

Aradigm Corp

Rounding off the top five this week is Aradigm, a pharmaceutical company with a portfolio of drugs delivered by inhalation for the treatment of severe respiratory diseases. Like many other companies in the last few weeks, Aradigm released their fourth quarter and full year 2015 results. The company also announced that the European Medicines Agency approved its request to review Pulmaquin®, the company’s investigational inhaled liposomal ciprofloxacin product, under the Centralised Authorisation Procedure drug review process.
On the back of the news, the company was up 25.08 percent. The company ended the week at $4.04.
Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any company mentioned in this article.
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