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: 

• Onconova (ONTX), 2,183% surge in interest
• NovaBay Pharmaceuticals (NBY), 1,415% surge in interest
• Eyepoint Pharmaceuticals (EYPT), 766% surge in interest
• Novan (NOVN), 178% surge in interest
• Intellia (NTLA), 163% surge in interest

Pipeline and key clinical candidates for these companies:

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. Onconova’s novel, proprietary multi-kinase inhibitor narazaciclib is being evaluated in two separate and complementary Phase 1 dose escalation and expansion studies. These trials are currently underway in the United States and China. Based on preclinical and clinical studies of CDK 4/6 inhibitors, Onconova is also planning a combination trial of narazaciclib with estrogen blockade in advanced endometrial cancer, as well as its clinical study in additional indications. Onconova’s product candidate rigosertib is being studied in multiple investigator-sponsored studies, including a dose-escalation and expansion Phase 1/2a study of oral rigosertib in combination with nivolumab in patients with KRAS+ non-small cell lung cancer, and a Phase 2 program evaluating rigosertib monotherapy in advanced squamous cell carcinoma complicating recessive dystrophic epidermolysis bullosa.

NovaBay Pharmaceuticals develops and sells eyecare and skincare products. NovaBay’s leading product, Avenova Antimicrobial Lid & Lash Solution, is often prescribed by eyecare professionals for blepharitis and dry-eye disease and is also available directly to eyecare consumers through online distribution channels such as Amazon.

EyePoint Pharmaceuticals is committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. The company’s pipeline leverages its proprietary Durasert technology for sustained intraocular drug delivery including EYP-1901, an investigational sustained delivery intravitreal treatment currently in Phase 2 clinical trials. The proven Durasert drug delivery platform has been "safely administered to thousands of patients’ eyes" across four U.S. FDA approved products, including Yutiq for the treatment of posterior segment uveitis, EyePoint says.

Novan is a medical dermatology company focused on developing and commercializing therapeutic products for skin diseases. The FDA accepted for filing Novan’s New Drug Application seeking approval for berdazimer gel, 10.3% for the treatment of molluscum contagiosum. The company also has a pipeline of potential product candidates using its proprietary nitric oxide-based technology platform, NITRICIL, to generate new treatments for multiple indications.

Intellia Therapeutics, a clinical-stage genome editing company, is developing novel, potentially curative therapeutics using CRISPR/Cas9 technology. "Intellia’s deep scientific, technical and clinical development experience, along with its robust intellectual property portfolio, have enabled the company to take a leadership role in harnessing the full potential of CRISPR/Cas9 to create new classes of genetic medicine," the company says.

Recent news on these stocks:

April 21

H.C. Wainwright analyst Joseph Pantginis upgraded Onconova to Buy from Neutral with an $11 price target. While the company has been in the "penalty box for quite some time" due to the prior rigosertib pivotal failures, the profile has changed "dramatically" as rigosertib has always been clinical active plus the addition of a "differentiated drug" in narazaciclib, the analyst tells investors in a research note. The analyst believes narazaciclib’s profile as a next-generation CDK 4/6 inhibitor continues to build a strong case as its multikinase targeting profile could allow it to improve tolerability and overcome resistance to approved CDK 4/6 inhibitors. As narazaciclib’s profile continues to build on the clinical front, it could attract significant partnering interest, said the firm.

April 20

Baird analyst Colleen Kusy initiated coverage of EyePoint Pharmaceuticals with an Outperform rating and $33 price target. The reduction of treatment burden in wet age-related macular degeneration, a $9B global branded market, is a meaningful unmet need, and early data for EyePoint’s lead asset EYP-1901 gives confidence that it could carve out meaningful market share, the analyst tells investors in a research note. The firm says the Phase 2 Eylea-controlled DAVIO 2 study is expected to readout in Q4. It also sees potential for the ongoing program in diabetic retinopathy.

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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.

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