Intec Pharma, PhaseBio Pharmaceuticals, Immune Design, Bellerophon Therapeutics and Iterum Therapeutics were last week’s top gainers.
Over the past trading week, the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) decreased 2.86 percent to 3,282.70 points as of 12:30 p.m. EST on Friday (December 7).
As always, last week was full of eventful company news. Ultragenyx Pharmaceutical (NASDAQ:RARE) celebrated a Health Canada approval with its partner Kyowa Hakko Kirin and Kyowa Kirin International on Thursday (December 6). The approval was for Crysvita, an injection treatment for X-linked hypophosphatemia (XLH) in adult and pediatric patients.
On Wednesday (December 5), Mereo BioPharma (LSE:MPH) and OncoMed Pharmaceuticals (NASDAQ:OMED) announced plans to merge. The transaction has been unanimously approved by each respective company’s board of directors and awaits further condition approvals.
Against that backdrop, a number of other NASDAQ biotech stocks saw significant share price increases last week. The five top gainers are as follows:
- Intec Pharma (NASDAQ:NTEC)
- PhaseBio Pharmaceuticals (NASDAQ:PHAS)
- Immune Design (NASDAQ:IMDZ)
- Bellerophon Therapeutics (NASDAQ:BLPH)
- Iterum Therapeutics (NASDAQ:ITRM)
Here’s a closer look at those companies and what moved their share prices. Share prices are quoted in US dollars and are current as of 1 p.m. EST on Friday.
Intec Pharma lands first on our weekly NASDAQ biotech stocks list with a 31.13 percent share price increase to $7.75. This Israel-based development stage company is working on formulations for its proprietary gastric retention technology, the Accordion Pill.
What may have contributed to this share price gain was the company announcing an update for its technology. The company developed a proprietary Novartis (NYSE:NVS,SWX:NOVN) compound, which will continue into a clinical PK study in 2019. This will remain under the previous agreement with Novartis.
Phasebio released its Q3 2018 financial results last week, which may have maintained investor attention. The company said its recent initial public offering funds will go towards the advancement of its clinical programs.
The company’s weekly share price gain was 29.76 percent to $3.75, landing second on our weekly NASDAQ biotech stocks list. PhaseBio has two drug candidates, one in Phase 1 development for major bleeding and the other in Phase 2b for pulmonary arterial hypertension.
Middle on our weekly NASDAQ biotech stocks list Immune Design. The company’s name alludes to its focus, which is immuno-oncology, with an in vivo approach. Its pipeline is developed with its technologies to activate cytotoxic T cells.
Immun Design had a 26.35 percent share price increase over last week’s trading period to $1.87. Investors are likely showing interest in the company’s clinical trial news released Sunday (December 2). Results for the follicular lymphoma treatment had a longer progression free survival rate and a 92 percent disease control rate, combined with the chemotherapy pembrolizumab.
Bellerophon specializes in biotherapeutics and is developing products to treat cardiopulmonary and cardiac diseases. In its pipeline are three product candidates featuring the company’s INOpulse technology. The company’s share price increased 20.44 percent to $1.12.
Bellerophon didn’t relase any news over the past trading week. The most recent news was its Q3 2018 financial results released in early November.
The last company to land on our top weekly NASDAQ biotech stocks list Iterum Therapeutics, a clinical-stage company based in Ireland. Itreum’s focus is on developing drugs to combat multi-drug resistant pathogens with anti-infectives.
Its Q3 2018 earnings results represents the most recent news for the company, released mid-November. The results showed the company met its plan to initiated all three planned Phase 3 trials for its drug sulopenem for urinary tract infections. Iterum’s share price increased 19.63 percent to $7.67.
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Data for 5 Top weekly 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, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.