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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:

  • Lexicon Pharmaceuticals (LXRX), 237% surge in interest
  • MEI Pharma (MEIP), 224% surge in interest
  • Incyte (INCY), 202% surge in interest
  • Intra-Cellular (ITCI), 173% surge in interest
  • Aquestive Therapeutics (AQST), 163% surge in interest

Pipeline and key clinical candidates for these companies:

Lexicon says it is "pioneering the discovery and development of innovative medicines to safely and effectively treat disease." Lexicon has advanced one of these medicines to market and has a "pipeline of promising drug candidates in discovery and clinical and preclinical development in heart failure, neuropathic pain, diabetes and metabolism and other indications," the company states.

MEI Pharma is a clinical-stage pharmaceutical company focused on developing potential new therapies for cancer. MEI Pharma’s portfolio of drug candidates includes clinical stage candidates with differentiated or novel mechanisms of action intended to address unmet medical needs and deliver improved benefit to patients, either as standalone treatments or in combination with other therapeutic options.

Incyte is a global biopharmaceutical company focused on finding solutions for serious unmet medical needs through the discovery, development and commercialization of proprietary therapeutics.

Intra-Cellular Therapies is a biopharmaceutical company working to understand how therapies affect the inner-workings of cells in the body. The company leverages its intracellular approach to "develop innovative treatments for people living with complex psychiatric and neurologic diseases," it states.

Aquestive Therapeutics is advancing medicines to solve patients’ problems with current standards of care and "provide transformative products to improve their lives." They are developing orally administered products to deliver complex molecules, providing novel alternatives to "invasive and inconvenient standard of care therapies," the company says. Aquestive has five commercialized products marketed by its licensees in the U.S. and around the world, and is the exclusive manufacturer of these licensed products.

Recent news on these stocks:

May 5

Cantor Fitzgerald raised its price target on Intra-Cellular to $90 from $87 and kept an Overweight rating on the shares. Intra-Cellular reports Q1 CAPLYTA net revenues that beat the firm’s estimate, the analyst tells investors. Furthermore, the company’s current cash balance should be sufficient to fund operations through key milestones, including possible TAM-expanding completion of P3 studies of luma and subsequent sNDA submission in 2024, the firm says. Overall, Cantor Fitzgerald believes the company had a productive quarter with strong commercial performance.

May 2

Lexicon reported Q1 EPS of (17c) against a consensus of (18c). As of March 31, Lexicon had $105.9M in cash and investments, as compared to $138.4M as of December 31. "Our NDA for sotagliflozin for the treatment of heart failure is on track for its May 27th PDUFA action date," said Lonnel Coats, Lexicon’s chief executive officer. "With both recently adopted medical treatment guidelines recommending the use of SGLT inhibitors as a key pillar of heart failure treatment and the unique data from our SOLOIST-WHF trial, we believe we have a strong value proposition for clinical differentiation in the heart failure market. Should we receive regulatory approval, we are prepared to promptly launch in the United States in the first half of 2023." "As we have previously shared, we continue preparations to advance LX9211 into late-stage development in neuropathic pain, supported by data from Phase 2 proof-of-concept studies in diabetic peripheral neuropathic pain and postherpetic neuralgia both completed in 2022, and expect feedback from our interactions from the FDA in Q2."

Incyte reported Q1 EPS of 37c against a consensus of 75c, and Q1 revenue of $808.7M against a consensus of $857.52M ."Our first quarter results demonstrate continued year-over-year double-digit revenue growth driven by Jakafi, which grew across all indications, and Opzelura, which is on track to become one of the most successful dermatology launches in recent years. In addition, we further expanded our commercial portfolio with several regulatory approvals including Opzelura for vitiligo in Europe." said Herve Hoppenot, Chief Executive Officer, Incyte. "Furthermore, in Q1 we made a decision to focus our development efforts on eight programs that have high potential value for us and discontinued six other programs. This allows us to optimize our allocation of resources on programs that can have a high impact for patients and for Incyte."

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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

Published first on TheFly

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