5 Top Weekly NASDAQ Biotech Stocks: Novelion on Top

Novelion Therapeutics, EyePoint Pharmaceuticals, CytRx, Viking Therapeutics and AVEO Pharmaceuticals were last week's top gainers.

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In the past trading week, the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) increased 3.45 percent, moving from 3,221.65 to 3,332.37 as of 12:00 p.m. EST on Friday (April 13).

Overall, companies on the index saw decent returns and make up a well-rounded list of pharmaceutical and biotech stocks for investors.

With that in mind, the five top biotech stocks on the NASDAQ that increased the most last week include:

  • Novelion Therapeutics (NASDAQ:NVLN)
  • EyePoint Pharmaceuticals (NASDAQ:EYPT)
  • CytRx (NASDAQ:CYTR)
  • Viking Therapeutics (NASDAQ:VKTXW)
  • AVEO Pharmaceuticals (NASDAQ:AVEO)

Here’s a closer look at the companies to see what may have moved their share prices last week.

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Novelion Therapeutics

First on our weekly NASDAQ biotech stock list is Novelion. The company and its subsidiary, Aegerion Pharmaceuticals, have two products approved on the market and three products still in the clinical stage. All of the products are for rare diseases like homozygous familial hypercholesterolemia — an inherited genetic disorder that affects the body’s ability to control cholesterol.

Though Novelion did not release much news last week, it did share support for World Lipodystrophy Day to increase awareness for the disease; Aegerion has a product called Myalept for the disease. In the middle of March, Novelion reported that both its marketed drugs had joint net revenues of $38.9 million in Q4 2017. Over last week’s trading period, shares of Novelion increased by 25.67 percent to reach $3.90 as of 2:50 p.m. EST on Friday.

EyePoint Pharmaceuticals

EyePoint is the rebrand of pSivida (NASDAQ:PSDV) after the acquisition of Icon Bioscienc, which was just announced at the end of March. As the name of the company 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 23.73 percent to $1.43 as of 2:52 p.m. EST on Friday, landing the company in second place on our top NASDAQ biotech stocks list.

What may have shifted the company’s share price last was the announcement on Thursday (April 12) of two US patents granted to the company. One patent covers treating eye inflammation following cataract surgery with a small amount of dexamethasone, and the other includes claims relating to loading and delivering the dose from an injection syringe.

CytRx

Middle of our weekly top NASDAQ biotech stocks list is CytRx, with a 23.27-percent increase in share price to $1.92. This biopharmaceutical company focuses on research and development of anti-cancer drug candidates through its linking technology to strengthen the accumulation and release of drugs to tumors. The company’s most advanced drug aldozorubicin has been out-licensed to NantCell, which is an improved version of a widely used anti-cancer drug doxorubicin.

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CytRx also hasn’t had any big news in the past week. It did, however, announce posters for its presentations at an American Association of Cancer Research event taking place this weekend in Chicago. Dr. Felix Kratz, the company’s vice president of drug discovery, will discuss current partnership developments with big pharma for LADR drug candidates and significant advantages over antibody-drug conjugates.

Viking Therapeutics

Another biopharmaceutical company, Viking is developing therapies for metabolic and endocrine disorders such as non-alcoholic fatty liver disease and anemia, among other indications. Viking has worldwide rights to five therapeutic programs based on small molecules license from Ligand Pharmaceuticals.

Viking also didn’t have any news in the past week, but the company’s share price did see a big increase earlier this year by reaching a 52-week high on February 22 at $6.93. The price then dropped slightly to $4.15 at the end of March and is now increasing again, with such volatility it may have spiked investors’ interest and is now evening out again for April with the increase.

The most recent news in the beginning of March, was the release of the 2017 financial results which highlighted the VK5211 Phase 2 trial reached its primary and secondary endpoints. Viking’s share price increased 20.57 percent over last week’s trading period to reach $3.75 1 p.m. EST on Friday.

AVEO Pharmaceuticals

Last on our weekly 5 top NASDAQ biotech stocks list is Aveo, a biopharmaceutical company. The company’s drug candidate target mechanisms involved in cancer, its lead product tivozanib is a highly potent and selective vascular endothelial growth factor approved for treating renal cell carcinoma (RCC) in the European Union, Norway and Iceland. In North America, it’s in the Phase 3 trial for refractory advanced RCC.

Over last week’s trading period, shares of Aveo increased 19.49 percent to $2.76.

Another company which didn’t have any news releases in the past week, but Aveo did announce its intentions to present at upcoming conferences in March and April at the end of March. Earlier in March Aveo also announced results from a long-term follow study where the company had an overall 70 percent disease control rate of refractory RCC.

Don’t forget to follow us at @INN_LifeScience for real-time updates!

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.

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***This article is updated weekly. Scroll to the top for the most recent information***

5 Top NASDAQ Biotech Stocks: CASI Pharmaceuticals Rises Nearly 50 Percent

Last week, the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) saw a minor decrease of 3.06 percent, falling from 3,324.60 to 3,207.58 as of 12 p.m. EST on Friday (April 6).

Overall, companies on the index last week performed slightly better and make up a well-rounded list of pharmaceutical and biotech stocks for investors.

With that in mind, the five top biotech stocks that increased the most last week include:

  • CASI Pharmaceuticals (NASDAQ:CASI)
  • Avid Bioservices (NASDAQ:CDMO)
  • Fortress Biotech (NASDAQ:FBIO)
  • Vericel (NASDAQ:VCEL)
  • Durect (NASDAQ:DRRX)

Here’s a closer look at those companies and what may have moved their share prices.

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CASI Pharmaceuticals

CASI has been on the top of our weekly top NASDAQ biotech stocks multiple times and again sits top on of last week’s list. This biopharmaceutical company is working on innovative therapeutics to treat cancer and other unmet medical needs with a focus on greater China.

Over last week’s trading period, shares of CASI’s increased 47.48 percent to $7.22 as if 2:51 p.m. EST on Friday.

What may have catapulted the company’s share price last week was an update on Evomela, a treatment for multiple myeloma. CASI recently received a letter on Thursday (April 5), that Evomela will be reviewed by the Center for Drug Evaluation, a group within China’s Food and Drug Administration (CFDA) near the end of April.

The press release said CASI expects the committee will make a recommendation will may influence the CFDA. Previously on April 4, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a “buy” rating for the company and gave a $7.00 price target.

Avid Bioservices

Second on our top weekly NASDAQ biotech stocks list is Avid Bioservices. Last week the company’s share price increased 16.44 percent to reach $3.36 as of 2:52 p.m. EST on Friday.

Avid Biosciences developments and manufactures biopharmaceuticals while offering its services to other companies. While the company hasn’t had any news in the past week, its most recent news came on March 22 when the company announced it had won six leadership awards from the 2018 Contract Manufacturing Organization (CMO).

Prior to that, on March 12 the company released positive Q3 financial results highlighting a nearly double gross profit of $4.13 million in 2018 compared to $2.77 million for the same quarter in 2017.

Fortress Biotech

Fortress has made developing easier with more companies by acquisitions. Some of Fortress’s subsidiaries include Journey Medical, Cyprium Therapeutics, Mustang Bio and more. Through its subsidiaries and developments, the company is working on over 25 product candidates in various clinical stages, including indications from acne to corneal transplant rejection.

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While the company didn’t have any news during last week’s trading period, Fortress Biotech did release financial results from its subsidiary Mustang Bio on March 29, highlighting a boost in research and development as well as expenses from license acquisitions totalling to $7.9 million and $12.4 million, respectively. Mustang currently has six product candidates, half in the preclinical stage and the other half in Phase 1 trials.

Last week, shares of Fortress increased 11.65 percent to $4.88 as of 3:00 p.m. EST on Friday.

Vericel

Vericel is working on advancing cell therapies, specializing in sports medicine and the severe burn care market.

Though the company hasn’t had any news in the recent weeks, the company announced on March 23 a new publication of the Phase 3 results from its SUMMIT extension study for the benefits of MACI in five years.

“MACI is the only FDA-approved cartilage repair product that has demonstrated significantly greater improvement versus microfracture in a Phase 3 controlled clinical trial,” said Nick Colangelo, Vericel’s president and CEO. The article was published in a scientific journal for sports medicine.

Last week week Vericel’s share price moved up 11.06 percent to $11.45 as of 3:02 p.m. EST on Friday.

Durect

Last on our 5 top weekly NASDAQ biotech stocks list is Durect. This biopharmaceutical company develops new therapies through it’s Epigenetics Regulator Program. DUR-928 is the company’s lead product candidate which is a small molecule with a potential application for several hepatic and renal diseases such as nonalcoholic steatohepatitis.

Durect may not have had any news last week, but on March 20 however it did announce a US Food and Drug Administration committee meeting scheduled in June for Remoxy ER. The investigational drug is a long-acting oxycodone formulation for severe pain.

Also in March, the company made only roughly $1 million more than the previous year on product revenue, its total revenue more than doubled from 2016 at $49.17 million– likely from agreement with Sandoz for Durect’s Posimir, announced in May of last year.

Over last week’s trading period, shares of the company increased 10.75 percent to $2.36 as of 3:04 p.m. EST on Friday.

Don’t forget to follow us at @INN_LifeScience for real-time updates!

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.

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