Which biotech and pharma stocks were on the rise last week? We list the top gainers and what may have moved their share prices.
It was another rocky week for the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI), which opened at 3,243.06 points on Monday (August 26) and reached a high of 3,269.62 points on Tuesday (August 27).
By Friday (August 30), the index had settled at 3,230.77 points as of 12:52 p.m. EDT.
On Monday, Salarius Pharmaceuticals (NASDAQ:SLRX) revealed a partnership with the Ivy Brain Tumor Center to work on Salarius’ treatment for glioblastoma, the most aggressive form of brain cancer. The company spiked over 21 percent on the news, but by Friday it was at US$8.52 as of 12:50 p.m. EDT.
In terms of top-performing stocks last week, the five top gainers are as follows:
- LogicBio Therapeutics (NASDAQ:LOGC)
- Aridis Pharmaceuticals (NASDAQ:ARDS)
- Prothena (NASDAQ:PRTA)
- Bellicum Pharmaceuticals (NASDAQ:BLCM)
- Flexion Therapeutics (NASDAQ:FLXN)
Here’s a closer look at those companies and what may have moved their share prices.
As a genome-editing company, LogicBio Therapeutics’ area of focus is treating rare diseases in children using its GeneRide technology platform.
Shares of LogicBio were up 52.78 percent last week to reach US$10.36 as of 2:42 p.m. EDT on Friday. The company had no major announcements that could explain its performance over the week.
Aridis Pharmaceuticals is developing products primarily for infectious diseases. The company currently has four drugs in clinical development and two in preclinical stages.
Similar to LogicBio Therapeutics, Aridis Pharmaceuticals had no announcements last week. Even so, over the five day trading period, shares of the company were up 45.45 percent to US$12.10 as of 10:32 a.m. EDT on Friday.
Prothena is focused on neuroscience and is developing products for life-threatening conditions. The company currently has a pipeline of candidates to treat illnesses such as Parkinson’s disease.
While Prothena didn’t have any announcements last week, shares of the company rose 20.9 percent to hit US$8.32 as of 3:05 p.m. EDT on Friday.
Bellicum Pharmaceuticals is developing cellular immunotherapies by forming T-cell functions through molecular switches. The company is working on therapies for a range of cancers, including hematological and solid tumors, as well as blood disorders.
On Wednesday (August 28), the company announced it will be presenting at a variety of investor conferences in September.
Shares of Bellicum increased 19.98 percent last week to reach US$1.18 as of 2:22 p.m. EDT on Friday.
Flexion Therapeutics is a company focused on musculoskeletal conditions such as osteoarthritis.
The company announced on Wednesday that it will present at a Boston conference on September 4. Flexion was up 18.45 percent last week, coming to US$13.18 as of 3:26 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.