5 Top NASDAQ Biotech Stocks: Oncology-focused Companies Lead Gains

The biotech sector has been buffeted for at least half a year now, with the NASDAQ Biotechnology index (INDEXNASDAQ:NBI) showing a decline of over 30 percent since mid-August 2015.
But of course there are always a few companies able to buck the trend, and last week was no different. Last week’s top-gaining NASDAQ-listed stock from the biotech and pharmaceutical sector was CytRx (NASDAQ:CYTR). Cyclacel Pharmaceutical (NASADQ:CYCCP) was the runner up, and it was followed by Natural Alternatives (NASDAQ:NAII), Galena Biopharma (NASDAQ:GALE) and Intercept Pharmaceuticals (NASDAQ:ICPT).

CytRx

Making a leap of 41.24 percent last week was CytRx, a biotech company with a focus on oncology. Earlier in the week, it secured a $40-million long-term loan facility with Hercules Technology Growth Capita and Hercules Technology III.

CytRx has received an initial $25-million portion of the financing, and the proceeds will go towards pre-commercialization and manufacturing activities pertaining to aldoxorubicin, as well as clinical development and general corporate purposes.

Cyclacel Pharmaceutical

Though it’s been downgraded to “hold” by analysts at Zacks Investment Research, Cyclacel Pharmaceutical had a good week, posting a 33.33-percent gain over the course of the five days. The company is a biopharmaceutical firm involved in developing oral therapies that target various phases of cell cycle control in the treatment of cancer and other serious diseases.
On February 2, the company received a letter from the Listing Qualifications Staff of the NASDAQ indicating that it had not regained compliance with the $1 minimum bid price requirement for continued listing. The company responded on February 5, requesting a hearing before the NASDAQ Listing Qualifications Panel to prevent delisting.

Natural Alternatives

A leading formulator and manufacturer of customized nutritional supplements, Natural Alternatives was last week’s third-largest gainer at 26.3 percent. During the period, the company announced its most recent quarterly results, which indicate net income of $1.9 million, or $0.28 per diluted share. The company saw net sales of $26.9 million.

Galena Biopharma

Focused on developing and commercializing targeted oncology therapeutics, Galena has a portfolio that is focused on addressing the rapidly growing population of cancer survivors by capturing the power of the immune system to prevent cancer from returning. The company’s pipeline includes novel cancer immunotherapy programs led by NeuVax, which is currently in Phase 3 clinical trials.
Galena announced last week that the US Patent Office has issued a Notice of Allowance for an additional US patent application covering multiple uses of NeuVax. Last week, Galena saw its share price climb by 23.81 percent and ended trading at $0.78.

Intercept Pharmaceuticals

Intercept Pharmaceuticals rounds off last week’s top gainers list. During the period, speculation was rife that the biopharmaceutical company is up for sale. According to a Reuters UK exclusive, sources have alluded to the company entertaining a potential sale; however, the news outlet does note that there is no certainty of a deal.
Over the course of the week, Intercept saw its share price climb by 22.08 percent. The company posted its most significant gains on Friday, climbing by 27.5 percent that day. Intercept ended the week at $120.22.
 
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, Vivien Diniz, hold no direct investment interest in any company mentioned in this article.
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