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) had a bit of a rocky week, but managed to stay in the green over the course of the trading period.
The index opened last Monday (November 11) at 3,459.2 points before reaching 3,492.46 points as of 1:33 p.m. EST on Friday (November 15).
On Thursday (November 14), Sarepta Therapeutics (NASDAQ:SRPT) secured a partnership with privately held StrideBio to develop gene therapies targeting the central nervous system. Despite the news, shares of Sarepta dipped over 3 percent during the day’s trading session.
In terms of small- and mid-cap stocks, the five top gainers last week were as follows:
- Mersana Therapeutics (NASDAQ:MRSN)
- IDEAYA Biosciences (NASDAQ:IDYA)
- Jounce Therapeutics (NASDAQ:JNCE)
- Alimera Sciences (NASDAQ:ALIM)
- Vermillion (NASDAQ:VRML)
Here’s a closer look at those companies and what may have moved their share prices over the week.
Mersana Therapeutics is focused on developing treatments for different types of cancer. Its lead product candidate is XMT-1536, which is in a Phase 1 clinical trial for patients with ovarian cancer and adenocarcinoma.
Shares of Mersana Therapeutics increased 40.38 percent last week to hit US$2.72 as of 2:14 p.m. EST on Friday. Despite its share price increase, the company had no news last week.
IDEAYA Biosciences is a precision medicines company that uses molecular diagnostics in oncology.
On Friday, the company announced it will be presenting a progress update on November 20 for its Phase 1/2 clinical trial of IDE196 in solid tumors.
Shares of IDEAYA Biosciences were up 37.81 percent last week to US$7.82 as of 12:35 p.m. EST on Friday.
Jounce Therapeutics is developing treatments for cancer that help the immune system attack tumors.
Shares of Jounce Therapeutics rose 32.02 percent last week to reach US$5.18 as of 2:47 p.m. EST on Friday. The company had no announcements last week that would explain its share price increase.
Alimera Sciences is focused on treatments for eye diseases, most notably those that affect the back of the eye or the retina.
On Wednesday (November 13), the company ended its common stock purchase agreement with Lincoln Park Capital Fund, worth US$20 million. The next day, Alimera Sciences said that its previously announced reverse stock split had been completed.
Shares of Alimera Sciences were up 31.67 percent last week to US$4.58 as of 2:45 p.m. EST on Friday.
Vermillion is focused on treatments for ovarian cancer and has two key products in its pipeline: its OVA1plus product line, which focuses on ovarian cancer detection, and ASPiRA GenetiX, which is intended for ovarian and breast cancer detection.
The company released its Q3 2019 financial results on Tuesday, noting an 82 percent increase in product volume during the quarter when compared to Q3 2018. Product revenue was also on the rise, increasing by 68 percent during Q3 2019 when compared to the same quarter last year.
Shares of Vermillion were up 26.63 percent last week to US$0.79 as of 3:00 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.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.