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) declined last week, falling from 3,323.71 points on Monday’s (July 29) open to 3,282.81 points as of 1:22 p.m. EDT on Friday (August 2).
Over the course of the week, a number of top companies released pivotal Q2 2019 earnings, including Amgen (NASDAQ:AMGN), which revealed that revenue fell 3 percent during the quarter due to competition for its older off-patent drugs. However, the company said that its cancer drug AMG510 demonstrated activity in colorectal and appendiceal cancer patients.
As a result, shares of Amgen were up 6.16 percent last week to US$186.10 as of 1:40 p.m. EDT on Friday.
In terms of small-to-mid cap companies, the five top gainers were as follows:
- Exicure (NASDAQ:XCUR)
- NeuBase Therapeutics (NASDAQ:NBSE)
- TCR2 Therapeutics (NASDAQ:TCRR)
- DURECT (NASDAQ:DRRX)
- Aravive (NASDAQ:ARAV)
Here’s a closer look at those companies.
Exicure’s area of focus is on developing products for immuno-oncology, inflammatory diseases and genetic disorders. Its lead program is in a Phase 1b/2 trial for patients with solid tumors.
On Friday, the closed its underwritten public offering of just under 32 million shares at US$2 per share. Shares of Exicure were up 46.8 percent last week to US$2.90 as of 2:11 p.m. EDT on Friday.
NeuBase Therapeutics is working on gene silencing therapies, including its NeuBase peptide-nucleic acid antisense oligonucleotide platform. This platform assists with treatment opportunities for people who have rare genetic disorders.
On Tuesday (July 30), the company added Dr. Samuel Broder and Dr. George Church to its scientific advisory board. Over the week, shares of NeuBase increased 34.09 percent to US$5.29 as of 3:03 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 for the treatment of solid and hematologic cancers.
On Wednesday (July 31), TCR2 Therapeutics announced a partnership with the National Cancer Institute to begin a Phase 1/2 trial of TC-210. As a result, shares of TCR2 Therapeutics increased 22.68 percent to US$17.02 as of 3:03 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.
DURECT released its Q2 2019 financial results on Thursday (August 1), noting that revenue totaled US$5 million for the quarter while its net loss was US$7.2 million. Shares of DURECT were up 19.49 percent last week to US$1.23 as of 3:14 p.m. EDT on Friday.
In Aravive’s pipeline is AVB-500, which is its lead product candidate in cell mitigation and driving away cancer and fibrosis.
On Wednesday, the company announced preliminary data from its ongoing efficacy and safety Phase 1b trial of AVB-500 in ovarian cancer patients. Aravive’s shares were up 16.9 percent last week to US$6.56 as of 2:42 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.