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Biotech Alert: Searches spiking for these stocks today
The Fly

Biotech Alert: Searches spiking for these stocks today

Stay ahead of biotech stocks seeing a surge in interest from retail and financial professional investors with this exclusive recap from The Fly

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:

  • Cidara Therapeutics (CDTX), 342% surge in interest
  • Aptinyx (APTX), 176% surge in interest
  • Seres Therapeutics (MCRB), 148% surge in interest
  • Array Technologies (ARRY), 104% surge in interest
  • Karuna Therapeutics (KRTX), 100% surge in interest

Pipeline and key clinical candidates for these companies:

Cidara is developing long-acting therapeutics designed to help improve the standard of care for patients facing serious diseases. The company’s portfolio is comprised of new approaches aimed at transforming existing treatment and prevention paradigms, first with its lead Phase 3 antifungal candidate, rezafungin, in addition to DFCs targeting viral and oncology diseases from Cidara’s proprietary Cloudbreak platform.

Aptinyx is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of proprietary synthetic small molecules for the treatment of brain and nervous system disorders. Aptinyx has a platform for discovery of novel compounds that work through a unique mechanism to modulate—rather than block or over-activate—NMDA receptors and enhance synaptic plasticity, the foundation of neural cell communication. The company’s proprietary chemistry platform has generated and continues to yield a rich and diverse array of small-molecule NMDA receptor modulators with the potential to treat various neurologic disorders.

Seres Therapeutics is a microbiome therapeutics company developing a novel class of multifunctional bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease. Seres’ SER-109 program achieved "the first-ever positive pivotal clinical results for a targeted microbiome drug candidate," according to the company, and has obtained Breakthrough Therapy and Orphan Drug designations from the FDA. The SER-109 program is being advanced to prevent further recurrences of C. difficile infection. Seres is evaluating SER-155 in a Phase 1b study in patients receiving allogeneic hematopoietic stem cell transplantation to reduce incidences of gastrointestinal infections, bloodstream infections and graft-versus-host disease as well as additional preclinical stage programs targeting Infection Protection in medically compromised patients.

Array Technologies is a leading American company and global provider of utility-scale solar tracker technology. Engineered to withstand the harshest conditions on the planet, Array’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, Array relies on its diversified global supply chain and customer-centric approach to deliver, commission and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy.

Karuna Therapeutics is a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions.

Recent news on these stocks:

March 23

Cidara Therapeutics reported Q4 EPS of (19c), against a consensus of (17c). The company reported Q4 revenue of $10.219M, against a consensus of $10.57M. "We have completed a transformational 2022 for Cidara and are carrying that momentum into 2023 with the recent U.S. Food and Drug Administration approval of rezafungin for the treatment of candidemia and invasive candidiasis in adult patients with limited or no alternative treatment options. This approval enables Cidara to receive a $20.0M regulatory milestone payment under the terms of our agreement with Melinta Therapeutics," said CEO Jeffrey Stein. "Rezafungin is the first new drug in this indication in over a decade and our U.S. commercial partner, Melinta, is well-positioned to bring rezafungin to the U.S. market. Importantly, under the terms of our agreement with Melinta, Cidara is eligible to receive up to $40.0 million in additional regulatory milestones, and up to $370.0 million in commercial milestones, plus tiered royalties in the low double digits to mid-teens on U.S. net sales of rezafungin. These expected revenues would help advance our Cloudbreak drug-Fc conjugate platform programs and the completion of our ongoing global Phase 3 ReSPECT prophylaxis study."

Royalty Pharma (RPRX) and PureTech Health (PRTC) announced that Royalty Pharma has acquired an interest in PureTech’s royalty in Karuna Therapeutics’ KarXT for up to $500M with $100M in cash up front and up to $400M in additional payments contingent on the achievement of certain regulatory and commercial milestones. As part of this transaction, PureTech has sold its right to receive a 3% royalty from Karuna to Royalty Pharma on sales up to $2 billion annually, after which threshold Royalty Pharma will receive 33% and PureTech will retain 67% of the royalty payments. PureTech retains its 3.1% equity ownership in Karuna1. Additionally, under its license agreement with Karuna, PureTech retains the right to receive milestone payments upon the achievement of certain regulatory approvals and 20% of sublicense income.

March 22

Guggenheim analyst Joseph Osha lowered the firm’s price target on Array Technologies to $35 from $36 and kept a Buy rating on the shares following Q4 results. Potential upside from benefits associated with the Inflation Reduction Act is not yet reflected in the firm’s model or the stock’s valuation, the analyst told investors.

March 21

Canaccord analyst John Newman raised the firm’s price target on Seres Therapeutics to $15 from $11 and keeps a Buy rating on the shares. The analyst said SER-109 will have the bulk of mind share leading up to the PDUFA date on 04/26/23, as Seres may become the first company to have an FDA-approved oral microbiome therapeutic. Importantly, we believe the May 2023 Phase 1b data release for SER-155 will showcase the expansive potential of microbiome therapeutics.


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 15-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.

Keywords: biotech, biotech sector, biotech alert, investingchannel, XBI, SPDR S&P Biotech ETF

Published first on TheFly

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