These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:
- Protalix BioTherapeutics (PLX), 586% surge in interest
- Arrowhead Pharmaceuticals (ARWR), 393% surge in interest
- Madrigal Pharmaceuticals (MDGL), 346% surge in interest
- Novo Nordisk (NVO), 319% surge in interest
- Mannkind (MNKD), 316% surge in interest
Pipeline and key clinical candidates for these companies:
Protalix is focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx. “Protalix was the first company to gain FDA approval of a protein produced through plant cell-based in suspension expression system. Protalix’s unique expression system represents a new method for developing recombinant proteins in an industrial-scale manner,” the company stated.
Arrowhead Pharmaceuticals develops medicines that treat intractable diseases by silencing the genes that cause them. Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep, and durable knockdown of target genes. RNA interference, or RNAi, is a mechanism present in living cells that inhibits the expression of a specific gene, thereby affecting the production of a specific protein. Arrowhead’s RNAi-based therapeutics leverage this natural pathway of gene silencing.
Madrigal Pharmaceuticals is a clinical-stage biopharmaceutical company pursuing novel therapeutics for nonalcoholic steatohepatitis, or NASH, a liver disease with high unmet medical need. Madrigal’s lead candidate, resmetirom, is a once daily, oral, thyroid hormone receptor-beta selective agonist designed to target key underlying causes of NASH in the liver.
Novo Nordisk is a global healthcare company headquartered in Denmark. The company describes its purposes as “to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders.”
MannKind Corporation focuses on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases.
Recent news on these stocks:
August 10
Novo Nordisk reported first half EPS DKK 17.41 vs. DKK 12.08 last year. Lars Fruergaard Jorgensen, president and CEO, said: “We are very pleased with the sales growth in the first half of 2023. The growth is driven by increasing demand for our GLP-1-based diabetes and obesity treatments, and we are serving more patients than ever before. The performance in the first six months has enabled us to raise the outlook for the full year. Within R&D, we are very excited about the results from the SELECT trial. Obesity is a serious chronic disease associated with many comorbidities and the results from SELECT demonstrate that comorbidities associated with the condition can be significantly reduced by treating people with semaglutide.” Additionally, Novo Nordisk A/S and Inversago Pharma announced that Novo Nordisk has agreed to acquire Inversago for up to $1.075B in cash if certain development and commercial milestones are achieved.
August 9
Oppenheimer lowered the firm’s price target on Madrigal Pharmaceuticals to $285 from $350 and kept an Outperform rating on the shares following quarterly results. The company also provided a business update, saying resmetirom NASH NDA was filed in early July based on Phase 3 MAESTRONASH results demonstrating efficacy on both NASH resolution and fibrosis improvement with recent BTD designation from FDA; FDA acceptance and review timeline should be disclosed by late Sept; achieving both efficacy endpoints clarifies European regulatory path while increasing the POS in compensated NASH cirrhosis; and MAESTRO studies generated extensive biomarker and imaging data to advance noninvasive strategies for real-world clinical use in diagnosing, treating and monitoring NASH with resmetirom.
August 7
Arrowhead reported Q3 EPS of (96c) against a consensus of (65c).
Hear more from InvestingChannel by signing up for The Spill.
About “Biotech Alert”
The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.
This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.
This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PLX:
