Helius Medical Technologies, vTv Therapeutics, Second Sight Medical Products, Depomed and Senomyx were last week’s top gainers on the NASDAQ.
Last week, the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) increased 1.98 percent to reach 3,356.57 as of 2:30 p.m. EST on Friday (May 11).
Overall, companies on the index saw decent returns and make a well-rounded list of pharmaceutical and biotech stocks for investors.
Below, the Investing News Network profiles the five NASDAQ biotech stocks that increased the most last week. The top gainers are as follows:
- Helius Medical Technologies (NASDAQ:HSDT)
- vTv Therapeutics (NASDAQ:VTVT)
- Second Sight Medical Products (NASDAQ:EYES)
- Depomed (NASDAQ:DEPO)
- Senomyx (NASDAQ:SNMX)
Here’s a closer look at those companies to see what may have moved their share prices last week.
Helius Medical Technologies
First on our weekly NASDAQ biotech stocks list is Helius Medical Technologies. A 43.19-percent increase last week brought the company’s share price to $11.25 as of 3:39 p.m. EST on Friday.
Helius has one product, the Portable Neuromodulation Stimulator, in its neurohabilitation division. It is a non-invasive medical device designed to deliver neurostimulation through the tongue and has not yet been cleared by the US Food and Drug Administration (FDA). It was developed with the University of Wisconsin-Madison based on almost 40 years of research in the field of neuromodulation — the use of external stimulation to intentionally change and regulate the electrochemical environment of the brain.
Although the company didn’t have any news last week, it did uplist to the NASDAQ in the middle of April.
Second on our NASDAQ biotech stocks list is vTv Therapeutics with a 32.68-percent increase over the last week; its share price was at $1.76 as of 3:40 p.m. EST on Friday. This clinical-stage pharmaceutical company has a range of preclinical small-molecule drug candidates for central nervous system disorders and cancer, among others.
During last week’s trading period, vTv announced it will prespecify a new subgroup with the FDA and report its Phase 3 Steadfast Part B results in June. Even though the trial didn’t meet its coprimary endpoints, a subpopulation did show “statistically significant” benefits from the company’s drug candidate azeliragon. The trial was to investigate the drug in people with mild Alzheimer’s disease — a field with very few therapeutics for the disease.
Second Sight Medical Products
Middle of the pack on last week’s list is Second Sight Medical Products, a company that develops visual prosthetics allowing blind patients more independence. The Argus II, for example, is a bionic eye or retinal implant that provides electrical stimulation to the retina to induce visual perception through a small video camera.
Over the past trading week, Second Sight completed a $10-million private placement with Gregg Williams, chairman of the company’s board of directors. In its first-quarter financial results, released on Thursday (May 10), the company highlighted net sales of $1 million in the period.
Shares of Second Sight increased 30.41 percent last week to reach $1.91 as of 3:45 p.m. EST on Friday.
Next is Depomed, a pharmaceutical company with a broad focus on patient needs in pain, neurology and unmet medical needs. The company released its first-quarter financial statement on Thursday, which likely resulted in its rising share price.
“Our continued progress underscores the strong commitment we have to our three-pillar strategy of Maintain, Grow and Build, with the overall goal of improving profitability in 2018 and beyond,” Arthur Higgins, president and CEO of Depomed, said in the press release.
Shares of Depomed increased 22.54 percent last week to reach $7.50 as of 3:47 p.m. EST on Friday.
Last on our weekly NASDAQ biotech stocks list is Senomyx, a biotech company working on novel flavor ingredients and natural high-intensity sweeteners for food and beverage companies. Although the company didn’t put out any news last week, it did release its Q1 financial results at the end of April.
Senomyx’s share price rose 19.47 percent last week to reach $1.40 as of 3:53 p.m. EST on Friday.
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Data for 5 Top NASDAQ Biotech Stocks articles is retrieved each Friday at 10:00 a.m. PST using the Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and lower than $500 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.