Which biotech and pharma stocks were on the rise last week? We list the top gainers and what may have moved their share prices.
The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) rose slightly last week from 3,759.2 points on Monday’s (December 2) open to 3,763.81 points as of 11:30 a.m. EST on Friday (December 6).
Despite the positive results, shares of the company were down almost 18 percent following the news.
In terms of the best-performing small- to mid-cap stocks on the NASDAQ last week, the five top gainers are as follows:
- Atreca (NASDAQ:BCEL)
- Jounce Therapeutics (NASDAQ:JNCE)
- Corvus Pharmaceuticals (NASDAQ:CRVS)
- Galmed Pharmaceuticals (NASDAQ:GLMD)
- Arbutus Biopharma (NASDAQ:ABUS)
Here’s a closer look at those companies and what may have moved their share prices.
Atreca is developing treatments that target human immune responses. Its technology platform is called Immune Repertoire Capture.
On Tuesday, Atreca announced that the US Food and Drug Administration has cleared the company’s investigational new drug application for ATRC-101. Now, the company anticipates that it will begin a Phase 1b clinical trial of ATRC-101 in solid tumors sometime in early 2020.
Shares of Atreca had risen 45.77 percent to US$14.50 as of 12:38 p.m. EST on Friday.
Jounce Therapeutics is developing cancer treatments that help the immune system attack tumors. Its most advanced program is for non-small-cell lung cancer and bladder cancer; it is in a Phase 2 clinical trial.
Over the week, shares of Jounce Therapeutics were up 45.1 percent to US$8.01 as of 12:48 p.m. EST on Friday. Despite the increase, the company had no announcements over the period.
Corvus Pharmaceuticals is developing treatments for serious conditions. The company’s lead products are CPI-444 and CPI-006, both of which are in Phase 1 and 2 clinical trials for advanced solid tumors.
Corvus Pharmaceuticals also has a third program for its drug CPI-818, which is in a Phase 1/1b clinical trial for T-cell lymphomas.
Shares of the company were up 44.26 percent last week to US$4.28 as of 1:02 p.m. EST on Friday; however, Corvus Pharmaceuticals had no news last week that relates to its share price spike.
Galmed Pharmaceuticals is currently working on its drug candidate Aramchol to treat non-alcoholic steatohepatitis (NASH). NASH is a chronic disease with high unmet clinical needs.
Aramchol is in a Phase 3/4 registrational study for NASH and fibrosis.
Over the course of last week, shares of Galmed Pharmaceuticals were up 40.67 percent to US$6.18 as of 1:21 p.m. EST on Friday. That being said, the company had no announcements last week.
Arbutus Biopharma is developing treatments for patients with chronic hepatitis B virus. The company’s drug candidate AB-729 entered a Phase 1a/1b clinical trial in July 2019, with safety and efficacy data expected to be released in the first quarter of 2020.
Shares of Arbutus Biopharma rose 38.32 percent last week to reach US$2.34 as of 1:32 p.m. EST on Friday. However, like other companies on the list, Arbutus Biopharma had no news that relates to its share price increase.
Data for 5 Top NASDAQ Biotech and Pharma 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 US$50 million and lower than US$500 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.