The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) faced a decrease this past trading week. NBI went down 4.58 percent over the last five trading days and traded at 3,313.43 points. The Index is up 19.5 percent year-to-date.
Last week the Investing News Network (INN) reported on the recent advancements of the surgical robotics market. INN also reported on the US Food and Drug Administration’s (FDA) introduction of new guidelines when it comes medical device inspections.

Update on opioid crisis in the US

This past week US president Donald Trump declared the opioid crisis affecting the country a national health emergency. “No part of our society – not young or old, rich or poor, urban or rural – has been spared this plague of drug addiction,” Trump said according to a report by The Guardian. The president faced criticism due to a lack of new funds announced in the fight against opioids.

Trump sidestepped declaring a national emergency himself, which would have immediately unlocked billions of dollars of federal money from a disaster fund as happened in response to the recent wave of hurricanes to hit the US.

In August Trump announced he would declare the crisis a national health emergency, despite the reservations expressed by his former Secretary of Health and Human Services, Tom Price.
In a statement FDA commissioner Scott Gottlieb offered a bit more detail into what the regulatory agency will do to face the crisis now that Trump has publicly committed to the cause.
We are committed to taking additional steps under the new declaration of a public health emergency,” Gottlieb wrote. “This includes taking aggressive steps to prevent new addictions and opioid-related deaths, and help those currently addicted regain control and restore them to their communities.”
Here are last week’s top gainers on the NASDAQ:

• Sierra Oncology (NASDAQ:SRRA)
• iRadimed (NASDAQ:IRMD)
• Accuray (NASDAQ:ARAY)
• Novan (NASDAQ:NOVN)
• KalVista Pharmaceutical (NASDAQ:KALV)

Sierra Oncology

Sierra Oncology is a clinical stage drug development company, advancing targeted therapies for treating cancer patients. Last week the company made official the appointment of Dr. Andrew Allen to its Board of Directors. However, there have been no other recent news to explain this past week’s increase.
Sierra Oncology gained 31.10 percent last week and closed the week at $2.15 per share.

Iradimed

Iradimed is a provider of non-magnetic IV infusion pump systems designed to be safe for MRI procedures. Last week the company announced the FDA gave an 510(k) clearance for their 3880 patient vital signs monitoring system.
“[The 3880 system] has an easy-to-use design and unique wireless tablet remote control that allows for the effective communication of vital signs information to clinicians,” president and chief executive officer for Iradimed, Roger Susi said.
Iradimed gained 24.51 percent last week and closed the week at $12.70 per share.

Accuray

Accuray is a radiation oncology company working on radiation therapy and radiosurgery treatments technologies. Last week the company released their financial results for their first fiscal quarter, which ended on September 30.
Accuray gained 12.79 percent last week and closed the week at $4.85 per share.

Novan

Novan is a clinical-stage biotechnology company focused on dermatological and oncovirus-mediated diseases. On October 18 the company announced it completed a transaction with KNOW Bio earning worldwide rights for certain oncovirus applications of nitric oxide-based products. However, there have been no other recent news to explain this past week’s increase.
Novan gained 12.75 percent last week and closed the week at $6.10 per share.

KalVista Pharmaceutical

KalVista is a pharmaceutical company focused on small molecule protease inhibitors for diseases with unmet need. On October 10, the company announced it had entered into a collaboration with industry leader Merck (NYSE:MRK).
“We are pleased to collaborate with Merck for the continuing development of KVD001 and future oral programs for patients with DME,” Andrew Crockett, chief executive officer of KalVista said.
KalVista Pharmaceuticals gained 11.90 percent last week and closed the week at $12.60 per share.

** This article is updated each week. Please scroll to the top for the most recent information**

5 Top NASDAQ Biotech Stocks: Aevi Genomic Takes the Lead

October 22 – By Bryan Mc Govern
The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) saw a decrease this past trading week. NBI went down 1.37 percent over the last five trading days and traded at 3,472.32 points. The Index is up 25.23 percent year-to-date.
Last week the US Food and Drug Administration made headlines by approving the second gene therapy treatment for cancer ever. Yescarta by Kite Pharma, which was acquired by Gilead Sciences (NASDAQ:GILD), is a cell therapy treatment for adults with certain types of large B-cell lymphoma. “We believe this is only the beginning for CAR-T therapies,” Arie Belldegrun, M.D., FACS, founder of Kite, said in a statement, as reported by Genetic Engineering and Biotechnology News. “The FDA approval of Yescarta is a landmark for patients with relapsed or refractory large B-cell lymphoma.”
Here are last week’s top gainers on the NASDAQ:

• Aevi Genomic Medicine (NASDAQ:GNMX)
• Viking Therapeutics (NASDAQ:VKTX)
• Lifevantage (NASDAQ:LFVN)
• Trillium Therapeutics (NASDAQ:TRIL)
• MEI Pharma (NASDAQ:MEIP)

Aevi Genomic Medicine

Aevi Genomic Medicine is a genomic company working on advancing therapies for patients with pediatric onset life-altering diseases. Last week the company announced it completed a $28 million private offer for 22.2 million shares of its common stock with warrants to purchase approximately 4.0 million additional shares.
Aevi Genomic Medicine gained 37.30 percent last week and closed the week at $1.73 per share.

Viking Therapeutics

Viking Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. On October 4 the company shared its top line data from a 25-week proof of concept study for VK0214 in an in vivo model of x-linked adrenoleukodystrophy (X-ALD).
Viking Therapeutics gained 31.58 percent last week and closed the week at $3 per share.

Lifevantage

LifeVantage is a science-based network marketing company, focused on helping people achieve their health goals. The company held its annual European Leadership Academy at the Claus Event Center on October 8, 2017.
Lifevantage gained 31.22 percent last week and closed the week at $6.43 per share.

Trillium Therapeutics

Trillium is an immuno-oncology company working on the discovery and development of novel and innovative cancer therapies. Last week the company announced its new preclinical data and a patient case study for its CD47-blocking agent, TTI-621 were presented at the EORTC CLTF meeting.
Trillium Therapeutics gained 18.18 percent last week and closed the week at $7.15 per share.

MEI Pharma

MEI Pharma is an oncology company focused on the clinical development of novel therapies for cancer. The company hasn’t put out a press release since Sept. 19, when the announced president and chief executive officer Dr. Daniel P. Gold would present at the then upcoming Cantor Fitzgerald Global Healthcare Conference.
MEI Pharma gained 16.52 percent last week and closed the week at $2.68 per share.
Don’t forget to follow @INN_LifeScience for real-time updates!
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, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.