5 Top NASDAQ Biotech Stocks: Medical Device Manufacturer Neovasc Leads

There was minimal net movement on the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) last week. Although comments from President-elect Donald Trump triggered a fall of 2.92 percent on Wednesday, the index bounced back toward the end of the week. As a result, it closed Friday down just 0.42 percent, or 11.99 points.
As always, we take an in-depth look at last week’s top-performers below. The following five companies made significant gains between December 5 and December 9. Let’s count them down.

• Neovasc (NASDAQ:NVCN)
• TerraVia (NASDAQ:TVIA)
• Peregrine Pharmaceuticals (NASDAQ:PPHM)
• LifeVantage (NASDAQ:LFVN)
• Rockwell Medical (NASDAQ:RMTI)

1. Neovasc

In the number one spot? Medical device manufacturer Neovasc. This company focuses on the cardiac device market, making products like Tiara, a transcatheter device for mitral valve disease.
The stock gained 137.21 percent last week, closing on Friday at $2.04 per share. What could account for such significant gains? A glance at the company’s recent press releases offers some insight.
Neovasc recently sold its tissue processing technology and facility to Boston Scientific (NYSE:BSX)—a $67 million deal. The latter also agreed to invest seven million more in Neovasc.
Bolstering the stock further? Mid-week, Neovasc provided a positive update on its clinical study of Tiara.

2. TerraVia

Next up: TerraVia. A biotech focused on unlocking the therapeutic health benefits of algae, this company gained 34.78 percent last week. It closed Friday at $1.55 per share.
The company made just one announcement last week—but it was a big one. A major distributor of fish oil, Seafoodexport, will now act as a distributor for one of TerraVia’s products: AlgaPrime DHA.
“As demand increases for wild marine fish stocks, Seafoodexport sees AlgaPrime DHA as a critical ingredient in feed formulations that will allow continued sustainable growth in the industry,” the new distributor explained in a press release.

3. Peregrine Pharmaceuticals

Last week’s bronze medal went to Peregrine Pharmaceuticals, which develops monoclonal antibodies as part of the fight against cancer. Peregrine had a strong showing between December 5 and December 9: it gained just over 31 percent to close the week at $0.4.
So what’s behind this penny stock’s movement? On Tuesday, Peregrine announced it would pay a quarterly cash dividend on its Series E Convertible Preferred Stock. There were no other press releases issued last week.

4. LifeVantage

Like TerraVia, above, LifeVantage develops dietary supplements. And like TerraVia, it had a big week: LifeVantage saw gains of 27.10 percent, closing Friday at $9.85 per share.
The company announced it will release financial results on December 12, 2016. But there has been no major news that would account for the company’s performance last week.

5. Rockwell Medical

Gains of 23.81 percent saw Rockwell Medical close the week at $8.06. So why did this biopharmaceutical company, which develops therapies for kidney disease, outperform other stocks?
Once again, it’s hard to say. The company hasn’t issued a press release since November 7, 2016, when it reported somewhat lackluster financial results for Q3 2016. Despite this, Rockwell Medical seems to be performing well as of late—indeed, it was on this same round-up just a few weeks ago.
Don’t forget to follow @INN_LifeScience for real-time updates!
Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
Securities Disclosure: I, Chelsea Pratt, hold no direct investment interest in any company mentioned in this article.

5 Top NASDAQ Biotech Stocks: Select Penny Stocks Climbing

The NASDAQ Biotechnology index (INDEXNASDAQ:NBI) had a poor showing last week. It declined steadily between November 28 and December 2, ending the week 5 percent down—that’s 148.88 points.
Not everyone lost out, of course. The following five companies saw significant gains, outperforming others in the biotech or pharmaceutical space.
Last week’s major gainers on the NASDAQ were:

• ESSA Pharma (NASDAQ:EPIX)
• Cogentix Medical (NASDAQ:CGNT)
• Sanofi (NASDAQ:GCVRZ)
• CTI BioPharma (NASDAQ:CTIC)
• Merus Labs International (NASDAQ:MSLI)

Below, we take a closer look at each company.

ESSA Pharma

ESSA works in oncology treatments, with a specific focus on developing therapies for advanced prostate cancer. The pharmaceutical company was up 24.7 percent last week.
For a while, those gains looked vulnerable: although ESSA had a solid start to the week, the stock plummeted around 11 am on Thursday. It rebounded in the late afternoon, and closed Friday at $2.34 per share.
ESSA’s last announcement came on November 21, when the company reported they had secured a US$10 million loan from Silicon Valley Bank. There have been no other announcements to which the stock movement may be attributed.

Cogentix Medical

A medical device manufacturer, Cogentix Medical makes products for endoscopy. They saw gains of 24.66 percent last week, ending Friday at $2.78.
But the reason for those gains is once again unclear. Certainly, Cogentix Medical’s last press release shared good news—the company grew their Q3 revenue by 13 percent. But that announcement came on November 8, 2016, and there has been no further news to explain the rising stock price.

Sanofi

Back in 2011, Sanofi took over Genzyme. They issued contingent value rights (NASDAQ:GCVRZ) when the smaller biotech’s shareholders argued the $20 billion acquisition price was inadequate.
The contingent value rights grant additional payments to holders when a key drug, lemtrada, meets certain targets. And last week, those instruments became worth more: they rose 20.30 percent and closed the week at $0.36.
Those gains may have to do with the fact that Nova Scotia added lemtrada to its PharmaCare program, making the drug available to patients aged 18 and over who meet certain criteria.

CTI BioPharma

CTI BioPharma develops drugs for blood-related cancers, like leukemia. They’re also at work on a treatment for myelofibrosis—pacritinib. Last week, CTI BioPharma released results from a non-clinical study comparing this drug to other JAK inhibitors.
The study found that all three of the drugs had distinct profiles. This suggests they will have different biological effects and clinical applications.
There has been no other news to explain CTI BioPharma’s gains of 19.28 percent. Share price closed at $0.49 on Friday.

Merus Labs International

Finally, there’s Merus Labs International. This pharmaceutical company focuses on acquisitions in order to grow. But though it didn’t make any major deals last week, the stock climbed: Merus Labs gained 17.30 percent to close the week at $0.95.
Continuing last week’s theme, this stock movement is largely unexplained. The company hasn’t issued a press release since November 16, 2016, when they acknowledged their share price had dipped below the NASDAQ’s minimum bid price requirement.
Don’t forget to follow @INN_LifeScience for real-time updates! 
Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
Securities Disclosure: I, Chelsea Pratt, hold no direct investment interest in any company mentioned in this article.
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