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%