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) was on the steady incline last week, rising from just over 3,500 points on Monday’s (November 18) open to 3,624.20 points as of 2:24 p.m. EST on Friday (November 22).
Over the course of the week, CRISPR Therapeutics (NASDAQ:CRSP) and Vertex Pharmaceuticals (NASDAQ:VRTX) announced positive data from their gene-editing clinical trials on Tuesday (November 19). This marks the first time CRISPR/Cas9 technology has ever been used in human trials.
On Wednesday (November 20), Alnylam Pharmaceuticals (NASDAQ:ALNY) revealed the US Food and Drug Administration (FDA) approved its treatment, Givlaari, for acute hepatic porphyria — a rare genetic disease. This makes Givlaari the first approved treatment of its kind.
In the small-to-mid-cap space, the five top gainers last week are as follows:
- Fulcrum Therapeutics (NASDAQ:FULC)
- Proteostasis Therapeutics (NASDAQ:PTI)
- Adamis Pharmaceuticals (NASDAQ:ADMP)
- Osmotica Pharmaceuticals (NASDAQ:OSMT)
- Aravive (NASDAQ:ARAV)
Here’s a closer look at those companies and what may have moved their share prices.
Fulcrum Therapeutics is focused on rare diseases that have unmet clinical needs. Its areas of focus includes facioscapulohumeral muscular dystrophy (FSHD) — which has no approved treatments — sickle cell disease and beta-thalassemia.
The company currently has three programs in the clinic. The first is one to treat FSHD, which Fulcrum is currently recruiting patients for a Phase 2 clinical trial; sickle cell disease, which has moved into the preclinical phase and which the company anticipates filing an investigational new drug application (IND) for in mid-2020; and beta-thalassemia, also in the preclinical phases with an anticipated IND application for mid-next year.
Shares of Fulcrum were up over 73 percent last week to US$14.05 as of 2:05 p.m. EST, although the company had no announcements last week.
Proteostasis Therapeutics is developing treatments for conditions such as cystic fibrosis and neurodegenerative diseases.
That being said, Proteostasis Therapeutics had no notable announcements last week. Still, its shares rose 66.19 percent to reach US$1.66 as of 2:48 p.m. EST on Friday.
Adamis Pharmaceuticals is developing products for conditions such as respiratory diseases, allergies and opioid overdoses. The company has received FDA approval for its SYMJEPI injection 0.30 mg and SYMJEPI injection 0.15 mg products to treat acute allergic reactions.
On Monday, the company announced an article called “Comparative Pharmacokinetic Analysis of Community Use Naloxone Formulations for Acute Treatment of Opioid Overdose” was accepted by the Journal of Addiction Research and Adolescent Behavior for publication.
Shares of Adamis Pharmaceuticals were up 53.73 percent over the course of last week’s trading period to US$1.27 as of 3:47 p.m. EST on Friday.
Osmotica Pharmaceuticals’ is developing products with a primary focus on women’s health and neurology.
The company announced on Wednesday that its subsidiary, Vertical Pharmaceuticals, filed its new drug application for RVL-1201 for acquired blepharoptosis with the FDA with a prescription drug user fee act goal date of mid-July next year.
Over the five-day trading period, shares of Osmotica Pharmaceuticals were up 45.15 percent to US$5.98 as of 3:52 p.m. EST on Friday.
Aravive is working on treatments to halt the progression of diseases such as cancer and fibrosis.
The company announced on Wednesday positive data from its Phase 1b portion of the Phase 1b/2 clinical trial of its lead drug candidate, AVB-500 in ovarian cancer. So far 31 patients have been dosed with the treatment, which has demonstrated anti-tumor activity and progression-free survival rates.
As a result, shares of Aravive were up 42.22 percent last week to US$9.50 as of 3:59 p.m. EST on Friday.
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.
Don’t forget to follow us at @INN_LifeScience for real-time updates!
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.