Biotech Stock Roundup: SRPT & SLDB Soar On Positive Data, ANIK & ZIOP Crash
Zacks Investment Research | Jun 20, 2018 08:32AM ET
The biotech sector was in focus with regular pipeline updates. While Sarepta Therapeutics, Inc. (NASDAQ:SRPT) and Solid Biosciences (NASDAQ:SLDB) gained on positive data, Anika Therapeutics, Inc. (NASDAQ:ANIK) and Ziopharm Oncology, Inc. (NASDAQ:ZIOP) declined on dismal results.
Recap of Important Stories
Sarepta, Solid Biosciences Surge: The going has been good for the Duchenne muscular dystrophy (DMD) market. Shares of Sarepta surged significantly after the company reported impressive preliminary results from its phase I/IIa gene therapy trial assessing AAVrh74.MHCK7.micro-Dystrophin in individuals with DMD. The biopsies performed at the end of day 90 showed robust micro-dystrophin expression in muscle measured by all methods and observed in all three patients. The patients enrolled also showed a significant decrease in serum creatine kinase (CK) levels, with a mean reduction of CK of over 87% at Day 60. (Read more:the complete list of today’s Zacks #1 Rank stocks here .
Anika Plunges on Disappointing Data: Shares of Anika Therapeutics have dropped in after-market trading after the company reported disappointing results from a phase III trial on Cingal, which is being conducted to support registration in the United States. The 16-02 trial compared Cingal, a combination of cross-linked HA and triamcinolone hexacetonide (TH), with TH alone and cross-linked HA in treating patients with osteoarthritis in the knee. The primary endpoint was a comparison of the pain reduction when treated with Cingal compared with only TH at 26 weeks. However, the results did not show any statistical significance even though Cingal achieved greater pain reduction numerically at every time point in the study. Cingal is Anika’s third-generation visco supplement, along with Orthovisc and Monovisc products, to treat pain associated with osteoarthritis of the knee.
Ziopharm Oncology Plunges As FDA Places Clinical Hold on CAR T Therapy: Shares of Ziopharm Oncology declined after the FDA placed a clinical hold on its phase I trial evaluating CD19-specific CAR-T therapies manufactured under point-of-care. The FDA has requested additional information relative to Chemistry, Manufacturing and Controls in support of the investigational new drug (IND) application for the trial. The therapy is being evaluated as an investigational treatment for patients with relapsed or refractory, CD19+ leukemias and lymphomas.
Amgen Got European Nod For Addition of Data to Blincyto: Amgen (NASDAQ:AMGN) announced that the European Commission (EC) has granted a full marketing authorization for Blincyto (blinatumomab) based on encouraging overall survival (OS) data from the phase III study, TOWER, in adult patients with Philadelphia chromosome-negative (Ph-) relapsed or refractory B-cell precursor acute lymphoblastic leukemia (ALL). Results showed that Blincyto demonstrated a superior improvement in median OS over standard-of-care (SOC) chemotherapy. Median OS was 7.7 months for Blincyto versus four months for SOC.
Performance
Get The News You Want
Medical - Biomedical and Genetics Industry 5YR % Return
Biotech Stock Roundup: AXON Soars, Amgen Drugs Get FDA, EC Nod )
What's Next in Biotech?
Stay tuned for regulatory updates and pipeline development news.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.