5 Top NASDAQ Biotech Stocks: 5 Companies Gain over 30 Percent Last Week

It was a good trading week last week, with the NASDAQ Biotechnology index (INDEXNASDAQ:NBI) closing slightly higher on Friday. The index was up 2.87 percent, gaining 78.26 points to end at 2,805.25 points. 
Last week’s top gaining stock was ACADIA Pharmaceuticals (NASDAQ:ACAD). The runners up for the week included Galena Biopharma (NASDAQ:GALE), Hasen Medical (NASDAQ:HNSN), Cardiovascular Systems (NASDAQ:CSII) and finally, Vivus Inc (NASDAQ:VVUS).

ACADIA Pharmaceuticals

With a focus on medicines that address unmet medical needs in the central nervous system, last week’s top gainer on the NASDAQ was ACADIA Pharmaceuticals. The company has a pipeline of product candidates that is led by NUPLAZID™ (pimavanserin). The company has submitted a New Drug Application for NUPLAZID, a drug aimed at treating psychosis associated with Parkinson’s disease. Earlier last week, the company announced that the Food and Drug Administration (FDA), voted 12 to 2 that the benefits of NUPLAZID outweigh the risks of treatment.
ACADIA ended the week gaining 41.11 percent, ending Friday’s trading session at $28.66.

Galena Biopharma

Making a repeat appearance on the top gainers list is Galen Biopharma. The reason behind the company’s share price gain for the week stems from its March 29 announcement of that the 70th qualifying disease free survival (DFS) event had been achieved in the NeuVax (nelipepimut-S) Phase 3 prevention of recurrence in early-stage node positive breast cancer with low intermediate HER2 Expression with NeuVax Treatment (PRESENT) clinical trial.
In the coming months Galena will compile and submit the clinical data to the trial’s independent data monitoring committee for interim analysis. The company’s NeuVax is a peptide immunotherapy vaccine that is currently under evaluation for the prevention of cancer recurrence. It is the company’s lead development agent in multiple ongoing and planned clinical trials.
Following the news last week, Galena Biopharma saw its share price increase 40.57 percent. The company ended the trading week at $1.49.

Hansen Medical

Hansen Medical is global leader in intravascular robotics, and has been a top gainer in the past as well. The company, according to Clinton Gazette, has been on a decline since August 2015, but has gained significantly over the last week. The company hasn’t released any recent news since mid-march, and Reuters has noted that an audit committee of board will be required to restate financial statements for three and six months ending June 30, 2015.
Still, the company ended the trading week posting just shy of 40 percent in gains. Friday’s share price closed at $3.65.

Cardiovascular Systems

Focused on developing medical devices for treatments of cardiovascular diseases, Cardiovascular Systems provides innovative solutions for treating peripheral and coronary vascular disease. This week the company announced stronger than expected preliminary fiscal third quarter results. The company also announced a broad-based restructuring in order to reduce costs as a key part of its plan to balance revenue growth with a pathway to probability and positive cashflow.
Ending the week at $13.26, Cardiovascular Systems ended the week having gained just over 39 percent.

Vivus Inc.

Rounding off the top 5 gainers, Vivus Inc ended the week with a 33 percent gain overall. Shares traded hands on Friday’s close at $1.49. The drug development company is working to address unmet needs in obesity, diabetes, sleep apnea and sexual health. The company has not released any news since early March, however, as reported by Financial Market News, major shareholder North Tide Capital bough 383,000 shares of the company on March 31.

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