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 an active week, opening at 3,298.28 points on Monday (August 12) and reaching a high of 3,338.66 points on Tuesday (August 13).
Throughout the rest of the period, the index continued dropping before settling at 3,290.75 points as of 1:11 p.m. EDT on Friday (August 16).
On Wednesday (August 14), Myriad Genetics (NASDAQ:MYGN) released its Q4 and annual financial results for its 2019 fiscal year, revealing that sales of its GeneSight genetic test dropped over the year. The US Food and Drug Administration has also asked for changes to GeneSight, said the company.
Following the release of its financials, shares of Myriad tumbled more than 40 percent in Wednesday’s trading session.
In terms of small- to mid-cap stocks, the five top gainers last week are as follows:
- Novavax (NASDAQ:NVAX)
- Solid Biosciences (NASDAQ:SLDB)
- Alpine Immune Sciences (NASDAQ:ALPN)
- Mustang Bio (NASDAQ:MBIO)
- Optinose (NASDAQ:OPTN)
Here’s a closer look at those companies and what may have moved their share prices.
Novavax’s area of focus is developing vaccines to prevent infectious diseases. Its ResVax is a vaccine for respiratory syncytial virus in infants, and it is in a Phase 3 clinical program for infants via maternal immunization. Its other drug candidate, NanoFlu, is also a vaccine. It is intended immunize against influenza and address problems related to other approved flu vaccines.
On Monday, Novavax released data for its Prepare trial of ResVax. It shows a 56.9 percent decrease in pneumonia during the one year safety data trial.
Shares of Novavax were up 82.53 percent last week to US$7.62 as of 1:47 p.m. EDT on Friday.
Solid Biosciences is focused on products for Duchenne muscular dystrophy. The company has a number of programs in four scientific platforms: corrective therapies, disease-modifying therapies, assistive devices and disease understanding and measurement.
The company released its Q2 2019 financial results on Wednesday, highlighting a net loss of US$26.5 million compared to US$18 million for Q2 2018. Solid Biosciences also noted that it has US$67.4 million in cash on hand compared to US$122.5 million at the end of last year.
Solid Biosciences’ share price was up 39.23 percent last week to US$8.32 as of 2:28 p.m. EDT on Friday.
Alpine Immune Sciences
Alpine Immune Sciences is developing immunotherapies for autoimmune and inflammatory diseases, as well as cancer. The company has two lead programs: ALPN-101, which is enrolling patients in a Phase 1 clinical trial for autoimmune and inflammatory diseases, and ALPN-202, its cancer immunotherapy.
The company’s Q2 2019 financial results were released on Tuesday, and indicate that dosing in its ALPN-101 Phase 1 study has been completed. Alpine Immune Sciences anticipates it will be able to present data from this trial in the first half of next year.
Over the course of last week’s trading period, shares of Alpine Immune Sciences increased 34.66 percent to US$4.47 as of 1:27 p.m. EDT on Friday.
Mustang Bio’s area of focus is creating cell and gene therapies for hematologic cancers, solid tumors and rare genetic diseases.
The company has entered partnerships with a range of medical entities to advance its CAR T and CRISPR-Cas9 therapies for different cancers, as well as lentiviral gene therapies for XSCID.
Mustang Bio announced on Monday a US$9.28 million grant to the City of Hope from the California Institute for Regenerative Medicine. The grant will fund the company’s ongoing Phase 1 clinical trial of MB-103 to treat HER2 positive breast cancer with brain metastases. Patents covering HER2 CAR from the City of Hope were licensed to the company in 2017.
Last week, shares of Mustang Bio rose 26.04 percent to reach US$3.85 as of 2:42 p.m. EDT on Friday.
Optinose is a specialty pharmaceutical company with a focus on developing products for the ear, nose and throat. The company also specializes in allergies.
Like others on this list, on Monday Optinose released its Q2 2019 financial results, highlighting net revenue of US$11.2 million for the quarter, while net losses totaled US$27.4 million. The company had cash of US$144 million on hand as of June 30.
Throughout the five day trading period, shares of Optinose increased 25.1 percent to reach US$6.51 as of 2:40 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.