Last week, the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) decreased by 1.64 percent, moving from 3,221.65 to 3,332.37 as of 2:30 p.m. EST on Friday (April 20).
Overall, companies on the index saw decent returns and make up a well-rounded list of pharmaceutical and biotech stocks for investors. News which may have initiated the companies’ share price was everything from conference announcements to negative clinical trial results.
With that in mind, the five top biotech stocks on the NASDAQ that increased the most last week include:
- vTv Therapeutics (NASDAQ:VTVT)
- Teligent (NASDAQ:TLGT)
- EyePoint Pharmaceuticals (NASDAQ:EYPT)
- Catalyst Biosciences (NASDAQ:CBIO)
- Eleven Biotherapeutics (NASDAQ:EBIO)
Here’s a closer look at the companies to see what may have moved their share prices last week.
First on our weekly NASDAQ biotech stocks list is vTv Therapeutics with a dramatic 163.75 percent increase over the last week, bringing its share price to $2.15 as of 2:43 p.m. EST on Friday. This clinical-stage pharmaceutical company has a range of pre-clinical small molecule drug candidates for central nervous system disorders and cancer, among others.
While the company didn’t have any news during last week’s trading period, it announced the week prior on April 9 top-line Phase 3 clinical results for its STEADFAST trial, which explained the investigational azeliragon for Alzheimer’s disease didn’t meet its co-primary endpoints. In turn, the company is discontinuing all studies involving the drug, while continuing to analyze the data from the trial.
Teligent is a leading generic pharmaceutical company and second on our weekly NASDAQ biotech stock list.
With 28 abbreviated new drug applications the company projects the applications represent a total addressable market of $2 billion. Currently the company has a portfolio of prescription topical medicines and a growing amount of hospital-based injectable products.
After a dip in share price to $2.68 at the beginning of April, the company’s share price gained more momentum with a 26.86 percent increase last week to $3.57 as of 2:48 p.m. EST on Friday. The news that may have triggered this increase was likely the US Food and Drug Administration (FDA) approval for ciclopirox shampoo—adding the company’s FDA approval to three for the year so far. The generic antifungal product was originally developed by Medicis (NYSE:MRX) back in 2003.
“We now have twenty-eight topical generic pharmaceutical products in the US portfolio, in addition to our four US injectable products,” Teligent CEO Jason Grenfell-Gardner said in the press release.
EyePoint is the rebrand of pSivida (NASDAQ:PSDV) following the acquisition of Icon Bioscience, which was announced at the end of March. As the company’s name suggests, EyePoint works on developing and commercializing ophthalmic products. So far, the company has developed three of only four US Food and Drug Administration (FDA) approved treatments for back-of-the-eye diseases.
The share price of EyePoint increased 19.86 percent to $1.72 as of 1 p.m. EST Friday, landing the company middle on our top NASDAQ biotech stocks list.
On Wednesday (April 18), EyePoint Pharmaceuticals shared two abstracts for presentations at the Association for Research in Vision and Ophthalmology 2018 meeting, taking place at the end of April. One will be discussing safety and efficacy of intravitreal, treating non-infectious posterior segment uveitis—a chronic inflammatory disease affecting the posterior segment of the eye. The other will be discussing the recurrences of the disease in connection with EyePoint’s Phase 3 study of fluocinolone acetonide insert.
Catalyst has a focus on developing medicines for serious conditions, one of which is a pipeline are for hemostasis, to manage blot clots for the rare blood disorder.
Although the company didn’t have any news last week, the company received approval from the Korean Ministry of Food and Drug Safety on April 12 for the sixth cohort to the Phase 1 clinical trial of CB 2679d for individuals with severe hemophilia B. It was approved based on the positive data from the Cohort 5 trial.
“The addition of this sixth cohort will allow us to build on the progressive increase in Factor IX activity levels, from severe to mild hemophilia, that we observed after six daily subcutaneous doses in Cohort 5 of this Phase 1/2 trial,” Nassim Usman, CEO of Catalyst said.
Shares of Catalyst increased 14.22 percent last week to $27.66 as of 2:59 p.m. EST on Friday.
Last on our weekly 5 top NASDAQ biotech stocks list is a company that hasn’t been on the list in close to two years–Eleven Biotherapeutics. The company focuses on biologics oncology is developing cancerous tumor targeting antibody fragments genetically fused to cytotoxic protein payloads called targeted protein therapeutics (TPTs).
News that may have triggered a share price increase for Eleven could have been the preclinical data presented at the American Association for Cancer Research Annual (AACR) Meeting on April 16 and 18. The first presentation was for VB6-845d, tumor cell killing elicits biologic features of immunogenic cell death, and the second for engineering and characterization of anti-PSMA humabody proteins. Then, on April 18 H.C. Wainwright Swayampakula Ramakanth issued a note to investors maintaining a “buy” rating for the company with a $2 price target.
Over the past trading week Eleven’s share price increased 10.96 percent to $1.73 as of 3:00 p.m. EST.
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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.