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) dipped steadily last week, falling from 3,310.52 points on Monday’s (September 23) open to 3,130.77 points as of 1:14 p.m. EDT on Friday (September 27).
AzurRx BioPharma (NASDAQ:AZRX) took a hit on Wednesday (September 25) after the release of Phase 2 clinical trial results for its treatment for cystic fibrosis patients with exocrine pancreatic insufficiency.
Shares of the company dipped more than 20 percent on Wednesday following its announcement. Despite the fall, the company remains optimistic about its next steps.
In terms of the top-performing stocks last week, the five top gainers are as follows:
- Ovid Therapeutics (NASDAQ:OVID)
- Melinta Therapeutics (NASDAQ:MLNT)
- Applied Genetic Technologies (NASDAQ:AGTC)
- Checkpoint Therapeutics (NASDAQ:CKPT)
- BioCryst Pharmaceuticals (NASDAQ:BCRX)
Here’s a closer look at those companies and what may have moved their share prices.
With a focus on neurological disorders, Ovid Therapeutics’ lead candidate is OV101, which is in clinical development to treat Angelman syndrome and Fragile X syndrome.
The company is also working in collaboration with Takeda Pharmaceutical Company (OTC Pink:TKPHF) on developing treatments for rare developmental and epileptic encephalopathies (DEE).
On Monday, Ovid Therapeutics announced positive data from its ongoing Endymion trial in patients with DEE. These conditions include Dravet syndrome and Lennox-Gastaut syndrome. The results of the trial show a reduction in seizures in participating patients.
Shares of the company were up 36.61 percent last week to US$3.06 as of 1:56 p.m. EDT on Friday.
In Melinta Therapeutics’ pipeline is its product Baxdela, which has been approved by the US Food and Drug Administration to treat a range of skin infections, such as acute bacterial and skin structure infections.
While the company had no announcements last week, its share price increased 15.38 percent to US$3.60 as of 2:35 p.m. EDT on Friday.
Applied Genetic Technologies
Applied Genetic Technologies uses its gene therapy platform to develop treatments for rare diseases. The company currently has clinical trials to treat X-linked retinitis pigmentosa, achromatopsia and X-linked retinoschisis. In preclinical programs, Applied Genetic Technologies has treatments for conditions such as optogenetics adrenoleukodystrophy, a rare disease of the central nervous system.
On Thursday (September 26), the company announced financial results for its fourth quarter and fiscal year, which ended on June 30. Applied Genetic Technologies highlighted topline data from its Phase 1/2 clinical trial of patients with X-linked retinitis pigmentosa.
Shares of the company rose 13.74 percent last week to settle at US$3.90 as of 2:54 p.m. EDT on Friday.
Checkpoint Therapeutics’ areas of focus is developing and commercializing treatments for patients with solid cancer tumors. Its lead candidate, CK-101, is currently in a Phase 1/2 clinical trial to treat epidermal growth factor receptor mutations in patients with non-small cell lung cancer.
On Thursday, the company said it will be presenting at the 2019 Cantor Fitzgerald Global Healthcare Conference on October 4. Shares of Checkpoint Therapeutics were up 13.02 percent last week to US$2.50 as of 2:58 p.m. EDT on Friday.
BioCryst Pharmaceuticals is developing treatment for serious and rare conditions such as hereditary angioedema, Marburg virus disease and yellow fever. The company’s Rapivab treatment for influenza was its first approved product and has received regulatory approval in the US, Canada, Japan, Australia, Taiwan, Korea and the European Union.
BioCryst announced on Thursday that the US Department of Health and Human Services will buy 10,000 doses of its Rapivab therapy. The company’s share price increased 11.71 percent over the week to US$3.18 as of 3:14 p.m. EDT on Friday.
Data for 5 Top NASDAQ Biotech and Pharma Stocks articles is retrieved each Friday at 1:00 p.m. EDT 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.