Global Blood (GBT) Shares Double In A Year, Focus On Oxbryta
Zacks Investment Research | Jan 02, 2020 04:42AM ET
Shares of Global Blood Therapeutics (NASDAQ:GBT) have surged 98.7% in the past year compared with the industry ’s growth of 8.7%.
In November 2019, the FDA approved its lead candidate voxelotor as an oral, once-daily treatment for SCD in patients aged 12 years or above. The drug will be marketed by the trade name Oxbryta. The approval comes almost three months ahead of the scheduled action date of Feb 26, 2020. SCD is a chronic, inherited blood disorder that affects hemoglobin levels.
Following this, Oxbryta became the first approved therapy that directly inhibits sickle hemoglobin polymerization, a major cause for SCD.
The company has another pipeline candidate, inclacumab, a novel fully human monoclonal antibody against P-selectin, in its portfolio. The drug is being developed as a treatment for vaso-occlusive crises (“VOC”) in patients with SCD. The company is developing inclacumab with drug giant Roche Holding (SIX:ROG) AG (OTC:RHHBY) .
However, Global Blood has only one approved product in its portfolio. If voxelotor does not do well, the business will be significantly affected, as inclacumab is in the early stages of development.
The company is also battling stiff competition. Novartis’ (NYSE:NVS) drug Adakveo (crizanlizumab) was also approved by the FDA in November 2019 to reduce the frequency of VOCs, or pain crises, in adult and pediatric patients aged 16 years or above with SCD.
Zacks Rank and a Stock to Consider
Global Blood currently has a Zacks Rank #3 (Hold).
Another better-ranked stock in the biotech sector is Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) sporting a Zacks Rank #1 (Strong Buy). You can see .
Alexion’s earnings per share estimates have increased from $1.59 to $2.03 for 2019 and from $1.22 to $1.34 for 2020 in the past 90 days.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.” Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.6% per year. So be sure to give these hand-picked 7 your immediate attention.
Get The News You Want
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.