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 in the red again last week, falling from 3,283.64 points on Monday’s (July 22) open to 3,283.82 points as of 1:58 p.m. EDT on Friday (July 26).
The meeting, which was originally scheduled for August 21, is being pushed back due to the regulatory agency’s decision to “consider a number of scientific and policy issues relating to this class of drugs,” the company disclosed in a US Securities and Exchange Commission filing. Shares of Nektar Therapeutics dropped nearly 10 percent after the decision.
In terms of small- and mid-cap companies, the five top gainers last week were as follows:
- Acasti Pharma (NASDAQ:ACST)
- Hoth Therapeutics (NASDAQ:HOTH)
- Durect (NASDAQ:DRRX)
- TCR2 Therapeutics (NASDAQ:TCRR)
- Solid Biosciences (NASDAQ:SLDB)
Here’s a closer look at those companies and what may have moved their share prices over the week.
Acasti Pharma is developing its cardiovascular drug CaPre to treat hypertriglyceridemia.
CaPre is currently in a Phase 3 clinical program to treat patients with this condition. The company may need to do one more clinical trial to support the FDA’s approval of a supplemental new drug application if CaPre, which is an omega-3 therapy, shows that it has benefits in third party studies.
On Thursday, the company announced it doesn’t plan on raising any more capital and that it is in a solid position after the completion of its Phase 3 trials. Over the five day trading period, Acasti Pharma soared 38.89 percent to reach US$2.33 as of 2:30 p.m. EDT on Friday.
Hoth Therapeutics develops products to treat atopic dermatitis, which is eczema. Its BioLexa Platform is a patented drug platform being developed at the University of Cincinnati and has had positive preclinical results from studies done at the University of Miami.
On Monday, the company announced positive results from its pilot study of BioLexa on patients with diabetic skin ulcers. Shares of Hoth Therapeutics were up 37.11 percent last week and had hit US$6.12 as of 1:54 p.m. EDT on Friday.
DURECT is working on its Epigenetic Regulatory Program as well as its drug delivery platforms. Its lead candidate is DUR-928, which is in Phase 2 development and has proven to be vital in helping improve lipid homeostasis, inflammation and cell survival.
While the company didn’t have any significant news last week, it did reveal it will release its Q2 results on August 1. Shares of DURECT increased 34.86 percent to come to US$0.98 as of 2:49 p.m. EDT on Friday.
TCR2 Therapeutics develops T cell therapies for cancer patients. Its TRuC T cell product candidates are in different stages of development to treat solid and hematologic cancers.
Shares of the company were up 28.36 percent last week to US$13.80 as of 2:52 p.m. EDT on Friday. TCR2 Therapeutics did not have any news last week that would explain its share price hike.
Solid Biosciences’ area of focus is on developing therapies for Duchenne muscular dystrophy.
On Friday, the company announced a US$60 million private placement anticipated to close on July 30. Through the placement, Solid Biosciences will sell more than 10 million of its common stock at US$4.65 per share. It is also selling roughly 2.3 million pre-funded warrants at US$4.64 each.
Shares of Solid Biosciences rose 20.61 percent last week to hit US$5.83 as of 3:02 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$15 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