When the stock market goes into risk-off mode, biotechnology companies get hit the hardest. This year isn't it?
MarketBeat.com - MarketBeat The index is down year-to-date, but it is performing better than the market as a whole. The bear market alpha is caused by depressed valuations and a string of positive drug development headlines.
The headlines have been positive for a few small cap companies. The stock movement may have staying power.
Vascepa, the first FDA-approved prescription for cardiovascular risk reduction, has been updated by the company. More signs point towards an expanded market opportunity for the company's product.
The Vascepa capsule reduced cardiovascular events in current and former smokers by 23% and 29% respectively. The drug was shown to work in patients with bad cholesterol and other cardiovascular risk factors.
Data continues to be analyzed and presented at various healthcare and investment conferences around the world, despite the fact that the study was part of a seven-year assessment. New Vascepa research was presented at the European Society of Cardiology Congress in Barcelona, Spain.
As the presentations of Vascepa continue to pile up, market sentiment around its potential to provide therapeutic value across a range of cardiovascular risk groups is improving Thanks to its Vascepa awareness programs and aggressive expansion plans in Europe, the penny stock seems to have found some support after plunging as low as $1.11 in May 2022.
Retail investors have doubled the stock price of SorrentoTherapeutics, Inc. The shareholders are hoping that the latest party is just starting.
The FDA Fast Track designation for the company's next-gen treatment for acute low back pain was the most recent catalyst. The triple strength version of ZTlido is an alternative to ineffective and potentially addictive prescription drugs. The news was cheered by investors because 1) the designation sets up SP-103 for an accelerated path towards possible FDA approval and 2) the global low back pain market is expected to become a $10 billion opportunity by 2026.
Positive clinical results of a potential treatment for lung cancer were announced a week ago. In a China-based study of more than 200 patients with non-small cell lung cancer, the drug had a 56.5% overall response rate. The positive data paved the way for Sorrento to prepare for a pre- New Drug Application meeting with the FDA and possibly request regulatory approval in other countries.
There is a presentation scheduled for the morning of September 14th at the Morgan Stanley global healthcare conference. If analysts like what the CEO says about the company, the stock could go up.
The Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) technology is used by Editas Medicine. The company is expected to talk about its business updates at the Morgan Stanley event.
Positive updates around its development programs have overshadowed the meager financial results of the company. The first patient to enroll in the closely followed RUBY trial was the first to receive EDIT-301. This was the first time that Editas' engineered AsCas12a was used to modify human cells. Initial data from the Phase 1 study is expected to be available by the end of the year.
The BRILLANCE study is evaluating EDIT 101 in patients with Leber Congenital Amaurosis 10. By the end of the year, a study of EDIT-103 for the treatment of R HO-adRP will be moving forward.
Robert Baird gave a $30 price target for Editas Medicine, suggesting that it could double from here. The research firm is holding a healthcare conference on September 13th that Editas management will attend.
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