5 Top NASDAQ Biotech Stocks: Cynapsus Therapeutics Soars on Acquisition

The NASDAQ Biotechnology index (INDEXNASDAQ:NBI) stayed the course last week. On Friday, the index was down by 0.23 percent with 2,935.08 points.
These five companies recorded gains above 30 percent over the five day period:

• Cynapsus Therapeutics (NASDAQ:CYNA)
• Skyline Medical (NASDAQ:SKLN)
• Karyopharm Therapeutics (NASDAQ:KPTI)
• Capnia (NASDAQ:CAPN)
• Threshold Pharmaceuticals (NASDAQ:THLD)

Cynapsus Therapeutics (NASDAQ:CYNA)

Cynapsus had a big week. The Toronto-based pharmaceutical company had two big announcements: first, USFDA Fast Track Designation for its Parkinson’s disease drug APL-130277, then news of Cynapsus’ acquisition by Sunovion Pharmaceuticals for US$624 million. Cynapsus shares were up by 115.99 percent the day after the acquisition was announced.
As last week’s top gainer, Cynapsus was up by 114.37 percent over the five day period, and closed the week at $39.68 per share.

Skyline Medical (NASDAQ:SKLN)

Skyline’s patented STREAMWAY® System is an FDA-approved, automated, direct-to-drain system for use by healthcare facilities to collect and dispose of potentially infectious waste fluid. Skyline announced its intent to form a joint venture with Electronic On-Ramp, Inc. (EOR).  EOR’s partner contracts with the US National Institutes of Health and Department of Defense are expected to provide Skyline Medical with access to bid on procurement contracts for up to $550 million or more in federal funds.
Skyline gained 114.20 percent over the five day period, and finished at $0.18 per share

Karyopharm Therapeutics (NASDAQ:KPTI)

Karyopharm is a clinical-stage company focused on the discovery and development of novel first-in-class drugs directed against nuclear transport and related targets for the treatment of cancer and other major diseases. Karyopharm’s lead drug candidate, selinexor (KPT-330), is an XPO1 inhibitor being evaluated in multiple late stage clinical trials in patients with relapsed and/or refractory hematological and solid tumor malignancies. Last week, the company reported results from its Phase 2b STORM study and the planned development path for selinexor (KPT-330) in multiple myeloma (MM). The company also announced its plans to expand its Phase 2b STORM study to include approximately 120 additional patients with penta-refractory MM.
Karyopharm gained 53.47 percent over the five day period, and finished at $10.62 per share

Capnia (NASDAQ:CAPN)

Capnia is focused on developing products based on proprietary technologies for precision metering of gas flow. Last month, Capnia announced its second quarter financials, stating an increase in total revenue: in the three and six months ended June 30, 2016 was $391,000 and $838,000, respectively, compared to $97,000 and $119,000 for the same periods in 2015.
Capnia gained 36.36 percent over the five day period, and finished at $0.30 per share.

Threshold Pharmaceuticals (NASDAQ:THLD)

Threshold is a San Fancisco-based biotechnology company that develops tumor-targeted therapies for cancer. In Early August, the company reported financial results for the second quarter ended June 30, 2016, stating that cash, cash equivalents and marketable securities totaled $33.6 million at June 30, 2016.
Threshold gained 33.70 percent over the five day period, and finished at $1.21 per share.
 
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, Pia Rivera, hold no direct investment interest in any company mentioned in this article.