Melinta Therapeutics, BioXcel Therapeutics, Eyenovia, Forward Pharma and Trevena were last week’s top gainers.
Last week, the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) was back in the green, rising from 3,405.25 points on Monday’s (February 11) open to 3,497.09 points as of 1:20 p.m. EST on Friday (February 15).
On Wednesday (February 13), it was revealed a new listing would be joining the exchange — TCR2 Therapeutics (NASDAQ:TCRR) — which officially began trading its common stock on Thursday. TCR is a clinical-stage immunotherapy company developing novel T cell receptor therapies for cancer patients.
Meanwhile a number of other NASDAQ biotech stocks were on the rise last week, including:
- ConforMIS (NASDAQ:CFMS)
- CAS Medical Systems (NASDAQ:CASM)
- ADMA Biologics (NASDAQ:ADMA)
- Outlook Therapeutics (NASDAQ:OTLK)
- Citius Pharmaceuticals (NASDAQ:CTXR)
Here’s a closer look at those companies and what may have moved their share prices over the week.
First on our five top weekly NASDAQ biotech stocks list is ConforMIS. ConforMIS designs and develops knee implants using 3D printing to make knee implants for all stages of osteoarthritis of the knee.
The company has three core products, including: the iTotal, which are custom-made cruciate-retaining and posterior stabilizing knee replacements, the iUni and iDuo, which are patient-specific knee replacement options, and the iJig instrumentation, which is a 3D printed surgical instrumentation specific to each patient.
Last week, shares of ConforMIS increased 63.89 percent to reach US$1.15 as of 2:07 p.m. EST on Friday. However, the company didn’t have any news last week that could be attributed to its share price hike.
CAS Medical Systems
CAS Medical Systems is a medical technology company that is developing tissue oximetry devices, including the Fore-Sight Ceberal Oximetry device, which is geared towards detecting hypoxia. The device allows for non-invasive measurements of tissue oxygenation in the brain.
On Tuesday (February 12), it was announced that the company will be acquired by Edwards Lifesciences (NYSE:EW), which means CAS Medical Systems won’t be on this list for much longer. According to the release, the deal is expected to close sometime in the second quarter of this year.
Shares of CAS Medical Systems were up 52.20 percent to settle at US$2.42 as of 2:20 p.m. EST on Friday.
Middle of the pack on our five top weekly NASDAQ biotech stocks list is ADMA Biologics, which is a company focusing on creating products for patients immunodeficient patients with risks of getting infections.
ADMA is currently developing its lead product candidate, RI-002 to treat primary immunodeficiency disease (PIDD), and has completed a Phase III clinical study. PIDD are genetic disorders that causes deficient or absent immune system due to a lack of necessary antibodies or a failure of these antibodies to function properly.
The company announced on Tuesday that it had entered into a staggering US$72.5 million senior secured term loan facility with Perceptive Advisors. The first $45 million will go towards ADMA’s former senior secured credit facility of $30 million in full plus associated costs and fees. The rest of the $27.5 million is predicated on the US Food and Drug Administration (FDA)’s approval of the company’s BIVIGAM® Prior Approval Supplement or the RI-002 Biologics License Application.
Shares of ADMA were up 47.29 percent last week to US$4.25 as of 2:38 p.m. EST on Friday.
Outlook Therapeutics is a late clinical-stage biopharmaceutical company and is currently focused on developing its ONS-5010 product geared towards ophthalmic indications, in particular for the treatment of wet AMD and other retina diseases.
On Thursday, Outlook Therapeutics released its fiscal first quarter results for the period ended December 31, 2018. In the results, the company highlighted it had completed 75 percent enrollment of its ONS-5010-001, a Phase 3 clinical trial in wet AMD.
Shares of Outlook Therapeutics were unsurprisingly on the rise last week, increasing by 41.29 percent to reach US$1.30 as of 2:44 p.m. EST on Friday.
Rounding out our five top weekly NASDAQ tech stocks is Citius Pharmaceuticals, which is a specialty pharmaceutical company that is developing critical care products.
The company’s key product includes the Mino-Lok™, which is an antibiotic lock solution used to treat patients with catheter-related bloodstream infections (CRBSIs). The product is currently heading towards a Phase 3 study after completing a Phase 2a study for hydrocortisone-lidocaine formulation for Grade I and II hemorrhoids.
That said, Citius Pharmaceuticals did not have any news last week, although its share price increase is still worth noting. Over the five-day trading period, the company’s stock bumped up 33.72 percent to US$1.19 as of 2:55 p.m. EST on Friday.
NASDAQ Biotech 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 $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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.