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Which biotech and pharma stocks were on the rise last week? We list the top gainers and what may have moved their share prices.
The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) was on the rise again last week, increasing from 3,602.55 points on Monday’s (November 25) open to 3,755.88 points as of 1:00 p.m. EST on Friday (November 29).
On Wednesday (November 27), Verrica Pharmaceuticals (NASDAQ:VRCA) revealed that the US Food and Drug Administration (FDA) accepted its investigational new drug application (NDA) for VP-102 to treat a viral skin condition. According to the company the condition, called molluscum contagiosum, currently has no treatment options available.
Despite the announcement, shares of Verrica Pharmaceuticals dipped almost 8 percent during Wednesday’s trading session.
In terms of the best performing small- to mid-cap companies last week, the five top gainers were as follows:
- Sorrento Therapeutics (NASDAQ:SRNE)
- Neoleukin Therapeutics (NASDAQ:NLTX)
- ObsEva (NASDAQ:OBSV)
- Oramed Pharmaceuticals (NASDAQ:ORMP)
- Ovid Therapeutics (NASDAQ:OVID)
Here’s a closer look at those companies and what may have moved their share prices.
Sorrento Therapeutics
Sorrento Therapeutics is focused on potentially making malignant conditions such as cancer curable.
Two of the company’s products are RTX and ZTlido. The former is currently in a Phase 1b trial in patients with terminal cancer, and ZTlido was approved by the FDA in February 2018.
On Monday, Sorrento announced that it had received and subsequently rejected an unsolicited all cash acquisition proposal from two companies.
Over the course of the week, shares of the company rose 82.5 percent to US$2.92 as of 12:59 pm EST on Friday.
Neoleukin Therapeutics
Neoleukin Therapeutics is developing treatments for immunological conditions such as cancer and autoimmunity.
On Tuesday (November 26), the company announced it will be presenting at the Piper Jaffray Healthcare Conference on December 5.
Shares of Neoleukin rose 73.83 percent last week to US$5.58 as of 12:59 p.m. EST on Friday.
ObsEva
ObsEva’s area of focus is on women’s health, in particular reproductive health and pregnancy.
While shares of ObsEva rose 67.9 percent last week to US$4.55 as of 12:57 p.m. EST, the company had no significant announcements during the trading period.
Oramed Pharmaceuticals
Oramed Pharmaceuticals’ platform is focused on treatments for diabetes.
The company’s oral insulin is currently in clinical trials for both type 1 and type 2 diabetes.
Over the course of last week’s trading period, shares of Oramed Pharmaceuticals rose 64.55 percent to US$4.41 as of 12:59 p.m. EST on Friday. Despite the share price bump, the company had no announcements last week.
Ovid Therapeutics
Ovid Therapeutics is focused on neurological conditions. The company’s most advanced product is OV101, which is in clinical development stages for Angelman syndrome and Fragile X syndrome.
On Tuesday, Ovid Therapeutics announced that it will be presenting at the Piper Jaffray Healthcare Conference on December 4.
Shares of Ovid Therapeutics rose 58.96 percent last week to US$4.26 as of 12:59 p.m. EST on Friday.
Data for 5 Top NASDAQ Biotech and Pharma Stocks articles is retrieved each Friday at 1:00 p.m. EST using TradingView’s stock screener. Only companies with a market capitalization greater than US$50 million and lower than US$500 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.