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) rose last week from 3,260.87 points on Monday (August 5) to settle at 3,294.97 points as of 1:26 p.m. EDT on Friday (August 9).
On Wednesday (August 7), Rhythm Pharmaceuticals (NASDAQ:RYTM) revealed positive results from its Phase 3 clinical studies of two obesity disorders. In both studies, the company’s drug had a significant impact on weight loss and hunger reduction in many participants.
Shares of Rhythm Pharmaceuticals responded favorably to the news, rising nearly 15 percent to close at US$21.84 on Wednesday. Its shares declined slightly to hit US$21.82 as of 2:18 p.m. EDT on Friday.
In terms of small- to mid-cap companies, the five top gainers last week were as follows:
- Paratek Pharmaceuticals (NASDAQ:PRTK)
- Neos Therapeutics (NASDAQ:NEOS)
- Aquinox Pharmaceuticals (NASDAQ:AQXP)
- ImmunoGen (NASDAQ:IMGN)
- Lexicon Pharmaceuticals (NASDAQ:LXRX)
Here’s a closer look at those companies and what may have moved their share prices.
Paratek Pharmaceuticals is developing a wide range of therapeutics. Its lead candidate, Nuzyra, has been approved by the US Food and Drug Administration (FDA) and is commercially available in the US to treat adults who have bacterial pneumonia, acute bacterial skin and skin structure infections. The drug is also being studied to potentially treat urinary tract infections.
The company’s other candidate, Seysara has also been approved by the FDA and has been exclusively licensed to Almirall to treat moderate to severe acne vulgaris.
On Tuesday (August 6), Paratek Pharmaceuticals released its Q2 2019 results, noting that it generated US$2 million in revenue for the quarter, with Nuzyra accounting for US$250,000 of that revenue.
Shares of the company were up 41.23 percent last week to US$4.52 as of 2:33 p.m. EDT on Friday.
Neos Therapeutics’ area of focus is developing products to treat attention deficit hyperactivity disorder (ADHD). The company has three approved products to treat the disorder: Adzenys XR-ODT, Cotempla XR-ODT and Adzenys-ER.
The company released its Q2 2019 results on Thursday (August 8), noting that there was a 3 percent increase in prescriptions for its ADHD products compared to the same quarter in 2018.
Neos Therapeutics’ share price increased 39.1 percent over the week to reach US$1.88 as of 2:38 p.m. EDT on Friday.
Aquinox Pharmaceuticals is developing De Novo protein therapeutics. Its lead candidate, NL-201, aims to remove alpha receptor binding.
On Friday, the company completed a merger with Neoleukin Therapeutics. Aquinox Pharmaceuticals will be renamed Neoleukin Therapeutics and will begin trading on the NASDAQ under ticker symbol NLTX on Monday (August 12). Shares of Aquinox were up 31.35 percent last week to hit US$3.57 as of 3:15 p.m. EDT on Friday.
ImmunoGen is working on antibody-drug conjugates for cancer patients, particularly for patients with solid tumors and hematologic malignancies.
The company’s share price increased 27.68 percent last week to US$2.88 as of 3:12 p.m. EDT on Friday. The company had no news last week that would explain its share price hike.
Lexicon Pharmaceuticals is developing products for serious and chronic conditions. The company currently has a range of drugs in its pipeline to treat conditions such as diabetes and neuropathic pain, as well as biliary tract cancer and carcinoid syndrome diarrhea.
On Thursday, the company announced positive data for its product Zynquista in adults with type 1 diabetes. Lexicon’s share price was on the rise last week, increasing 27.08 percent to reach US$1.51 as of 3:04 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.