Immunomedics, Inc. (NASDAQ:IMMU)

Akebia Therapeutics (Nasdaq: AKBA) Up on News of Partnership

Akebia Therapeutics; Nasdaq: AKBA

Shares of Cambridge, MA-based Akebia Therapeutics (Nasdaq: AKBA) were up over 40% on company reports that they have formed a $1 billion partnership with Otsuka Pharmaceutical for its late-stage drug Vadadustat, an oral treatment for anemia related to chronic kidney disease. The deal includes $265 million in committed cash, with $125 million as an upfront payment and another $35 million due in early 2017.

President and CEO of Akebia Therapeutics, John Butler remarked on the deal in a press release:

“Our alliance with Otsuka, one of the world’s innovative pharmaceutical leaders, also allows us to prepare an optimal launch of Vadadustat, as we will equally share commercial responsibility. Otsuka brings a well-established commercial presence and infrastructure in the U.S., and we share a strong commitment to improving patients’ lives by delivering important new therapeutic options. This deal also underscores the confidence that we and others have placed in the underlying value of Vadadustat and in our ability to bring innovative therapies to patients.”

In the phase 2a trial Vadadustat significantly increased hemoglobin levels compared to baseline in a dose-dependent manner across all treatment arms (P < .0001). Further, Vadadustat provides a physiologic reticulocyte response, ie, newly formed red blood cells (RBCs), which leads to a more gradual and consistent increase in hemoglobin levels than what is seen with injectable rESA therapies. This means that these improvements occur without causing patients’ hemoglobin to rise to levels that cause concern.

The consensus pricae target among anayalsts is $17. Four analysts cover AKBA with two assigning a rating of “Buy’ and two with a rating of “Strong buy”. Akebia Therapeutics has no reported sales and has never experienced positive EPS. In the past AKBA has trade near $7 but also traded near the $10 handle this past April.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

Ticker Symbol AKBA
Last Price a/o 10:00 AM EST  $               9.96
Average Volume 143,400
Market Cap $311.2 million
Sales $-
Shares Outstanding 37.27 million
Share Float 31.53 million
Shortable Yes
Optionable Yes
Inside Ownership 0.50%
Short Float 5.94%
Short Interest Ratio 13.05
Quarterly Return -9.73%
YTD Return -35.37%
Year Return -32.39%

Egalet Corporation (Nasdaq: EGLT) Up on Positive News

Egalet Corporation – Nasdaq: EGLT

Shares of Egalet Corporation, based in Wayne, PA, are up today on heavy volume in response to positive news as reported by the company. Egalet Corporation announced positive top-line results from a Category 3 intranasal human abuse potential study of Egalet-002, an abuse-deterrent, extended-release oxycodone product candidate which uses Egalet’s Guardian™ Technology. Egalet-002 is in late-stage development for the management of severe pain that requires around-the-clock, long-term opioid treatment and for which other treatment options are inadequate.

From Egalet Corporation’s press release:

“Given that intranasal abuse is the most common form of non-oral oxycodone abuse, these results, having hit the primary endpoint of reduced maximum drug liking, are promising,” said Bob Radie, president and chief executive officer. “We will look to submit the full data for presentation at a medical meeting in 2017.”

Shares of EGLT closed at $7.01 yesterday but at 2:33 EST shares were trading at $8.12 on heavy volume. Shares of EGLT traded below $4.00 in mid-2015 and above $19.00 in early 2015. Corporate sales rocketed in 2015 – $22.8 million from just $600k in 2011. However, EPS have suffered. In 2015 there was an EPS loss of $2.94, preceded in 2014 by an EPS loss of $2.97. EGLT is traded on the Nasdaq. It is also note-worthy that EGLT has a large short-sale float: 31.7%.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. All information or data is provided without any guarantee of its accuracy.

Ticker Symbol EGLT
Last Price a/o 2:44 EST  $                     8.28
Average Volume 556,730
Market Cap $167.12 million
Sales $30.2 million
Shares Outstanding 22.84 million
Share Float 21.99 million
Shortable Yes
Optionable No
Inside Ownership 1.80%
Short Float 31.70%
Short Interest Ratio 12.52
Quarterly Return -1.68%
YTD Return -36.39%
Year Return -34.73%

 

Interspace Diagnostics Group Inc. (Nasdaq: IDXG) – One to Keep Your Eye On?

Interspace Diagnostics Group – Nasdaq: IDXG 

For most of November, Interspace Diagnostics Group Inc. shares (Nasdaq: IDXG) traded below $0.20. That price action resulted in the Nasdaq notifying, on November 29, 2016, Interspace Diagnostics that it was in violation of maintaining the minimum required $2.5 million in shareholder equity. Failure to bring IDXG into compliance could result in the shares being delisted from the Nasdaq. Since then IDXG has traded just short of $2.00 and closed on Tuesday December 13, 2016 at $1.13. This price action has resulted in a monthly return of over 700%.  

About Interspace Diagnostics Group Inc.: 

Interpace Diagnostics is focused on developing and commercializing molecular diagnostic tests, leveraging the latest technology and personalized medicine for better patient diagnosis and management. The company currently has three commercialized molecular tests; PancraGen for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; ThyGenX, for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay and ThyraMIR, for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay. Interpace Diagnostics mission is to provide personalized medicine through molecular diagnostics and innovation to advance patient care based on rigorous science. 

On December 13, 2016 Interspace Diagnostics Group announced that it has launched a multi-site study to provide further evidence of the Clinical Utility of the ThyGenX/ThyramiR tests in accurately identifying malignancy or benign status in indeterminate thyroid nodules.  The primary objective of the study is to demonstrate the real world clinical utility of the test, i.e. the degree to which the tests impact physician decision-making and positively affect patient outcomes.  To date, the Company has performed the combination assay on over 5,000 patients on behalf of over 200 physicians and hospitals nationwide. 

The company needs good news going forward. In 2011, Interspace Diagnostics reported a loss of $0.26 EPS on sales of $157.3 million. Last year, shares of IDXG lost $2.01 EPS on sales of just $9.4 million. At the time of this writing no analysts covered the stock but press reports put unattributed rumors of a $3.00 price target. Shares have recently seen highs on larger than average volumes and it is interesting to note that IDXG is not maligned by a large short-sale effort.  

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol IDXG
Last Price a/o 9:20 EST  $               1.07
Average Volume 3.7 million
Market Cap $13.15 million
Sales $12.5 million
Shares Outstanding 13.6 million
Share Float 11.3 million
Shortable Yes
Optionable No
Inside Ownership 1.10%
Short Float 3.40%
Short Interest Ratio 0.1
Quarterly Return 410.50%
YTD Return 106.40%
Year Return 70.20%

Neovasc Inc. (Nasdaq: NVCN) Up on BSX Agreement

Neovasc Inc. Announces BSX Agreement – Shares/Volumes Skyrocket!

Shares of Neovasc Inc, a Canadian based company trading on the Nasdaq under ticker NVCN, were up over 38% in early trading. Neovasc Inc. is a specialty medical device company that develops, manufactures, and markets products for the rapidly growing cardiovascular marketplace. Shares of NVCN are apparently reacting to news of an agreement with Boston Scientific Corporation (NYSE: BSX). In the agreement, Boston Scientific would acquire Neovasc’s advanced biologic tissue capabilities, specified manufacturing assets, and $75 million in cash in exchange for a 15% equity share in Neovasc Inc.

Earlier this month NVCN was the subject of a SNU article based on Neovasc Inc.’s update on its clinical experiences with its Tiara transcatheter mitral valve – a device that treats conditions that can lead to heart failure and death. Investors welcomed the December 6th news as NVCN volumes exploded to over two million shares in early trading. NVCN ended with a closing price of around $1.42 but NVCN had traded over $2.00.

Today NVCN traded over $3.00 in early trading before settling back to the $2.50 handle. Volumes are heavy just one hour into trading – so far, about three times the average daily volume.

NVCN is covered by four analysts who have assigned target prices from $9.25 to $15.00.

Information provided below is not guaranteed for its accuracy. As always perform your own due diligence before taking any action regarding any stocks. Biotechnology stocks are inherently risky.

Ticker Symbol NVCN
Last Price a/o 10:25 EST  $               2.50
Average Volume 4.7 million
Market Cap $151.1 million
Sales $9 million
Shares Outstanding 66.8 milion
Share Float 45.19 million
Shortable No
Optionable No
Inside Ownership 6.28%
Short Float 3.45%
Short Interest Ratio 0.34
Quarterly Return 317.28%
YTD Return -49.78%
Year Return -50.00%

Achaogen Inc. (Nasdaq: AKAO) Spikes on Favorable Phase 3 News

Market Mover Alert! Acaogen Inc. – Nasdaq ticker: AKAO

Shares of AKAO are up over 70% on large volumes. Achaogen Inc. is a clinical stage biotech firm that develops anti-bacterials to treat drug-resistant infections. Achaogen Inc. trades under the Nasdaq ticker AKAO and is located in San Francisco, CA. On Friday it closed at $5.25 but Monday’s open saw AKAO reaching $8.70 on news that Achaogen’s lead drug, Plazomicin, met its Phase 3 objectives.

Plzomicin showed a lower rate of mortality or infection-related complications, when compared to colistin therapy. Those results moved Achaogen Inc. to announce that it will be submitting a New Drug Application to the FDA in 2017 and a marketing authorization application in 2018.

From Achaogen’s press release:

Achaogen Inc, sales have grown from $22.5 million in 2011 to $26.1 million in 2015. Three firms cover shares oa AKAO with either a “Buy” or “Neutral” rating assigned. The three analysts have assigned a target price of either $7, $10, or $15.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol AKAO
Last Price a/o 9:00 EST  $               9.00
Average Volume 315,430
Market Cap $138 million
Sales $35.7 million
Shares Outstanding 26.3 million
Share Float 26.3 million
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float 3.28%
Short Interest Ratio 2.73
Quarterly Return 16.93%
YTD Return -8.54%
Year Return -11.17%

 

 

Synergy Pharmaceuticals (Nasdaq: SGYP) Gets Good News

Big Volume on Synergy Pharmaceuticals Inc. – Nasdaq ticker: SGYP

Synergy Pharmaceuticals Inc said, according to preliminary data analysis, its experimental once-daily pill, Plecanatide, showed positive results in a late-stage study on irritable bowel syndrome patients. The company plans to apply to market the drug in 2017. Pre-market trading in SGYP saw the shares reach over $6.50 and have now settled back to yesterday’s trading levels.

Based in New York City, Synergy Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies.

Gary S. Jacob, Ph.D., Chairman and CEO of Synergy Pharmaceuticals Inc. said “We are very pleased with these results. These data reinforce our strong belief that Plecanatide may represent an important new treatment option for the millions of patients currently suffering from IBS-C. We look forward to the results of our second phase 3 IBS-C trial with Plecanatide later this month.”

Volumes on SGYP surged on the news – doubling the average daily volume less than an hour after the Nasdaq opened for trading. In November Synergy Pharmaceuticals presented a corporate update at the Jeffries London Healthcare conference. Shares moved significantly higher after that presentation on good volumes. Three analysts cover SGYP and all give the stock a “Buy” rating with price targets ranging from $7 to $15.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol SGYP
Last Price 12/9/2016 10:00 EST  $               5.71
Average Volume 2.9 million
Market Cap $961 million
Sales
Shares Outstanding 173.5 million
Share Float 172 million
Shortable Yes
Optionable Yes
Inside Ownership 7.00%
Short Float 16.20%
Short Interest Ratio 9.72
Quarterly Return 13.52%
YTD Return -2.30%
Year Return -9.00%

Voyager Therapeutics (Nasdaq: VYGR) Receives Positive News

Market Mover Alert on Voyager Therapeutics – Nasdaq ticker: VYGR

Voyager Therapeutics is up over 15% in early trading on heavy volume. Yesterday VYGR closed under $14.00 but today has seen it rise above $18.00 before settling back to the $16 handle.

Voyager Therapeutics is a gene therapy company that develops treatments for life threatening diseases of the central nervous system. Based in Cambridge, MA, Voyager Therapeutics has products in its pipeline that address treatments for Parkinson’s disease, amyotrophic lateral sclerosis, Friedrich’s ataxia, Huntington’s disease, and Alzheimer’s. Voyager Therapeutics has a partnership with the University of Massachusetts’s Medical School.

The company has just announced that its Parkinson’s treatment showed efficacy in a small, early-stage study. CEO Steven Paul said that his goal is to begin a blind placebo-controlled trial by the end of next year. Shares of VYGR jumped 30% after this announcement.

Five firms have initiated coverage of the stock with target prices ranging between $15 and $47. Of the firms covering VYGR, one has a “Buy” rating on the stock while three others have an “Outperform” or equivalent rating, and one rates it “Neutral”.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol VYGR
Last Price a/o 10:45 EST  $             15.98
Average Volume 58,000
Market Cap $353.3 million
Sales $16.8 million
Shares Outstanding 25.7 million
Share Float 22.5 million
Shortable Yes
Optionable No
Inside Ownership
Short Float 3.43%
Short Interest Ratio 13.3
Quarterly Return 6.77%
YTD Return -37.30%
Year Return -58.40%

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