The following are some of the biotech stocks that made their way onto the Day’s Gainers & Losers’ list of August 29, 2017.
1. Achieve Life Sciences Inc. (ACHV)
Gained 37.69% to close Tuesday’s (Aug.29) trading at $3.69.
News: No news
On August 16, 2017, the Company announced that it has initiated Cytisine Clinical Development Program in the U.S.
Cytisine has been approved and marketed in Central and Eastern Europe as a smoking cessation treatment for more than 15 years.
In preparation to initiate a pivotal Phase 3 trial in the United States, Achieve expects to conduct the following clinical studies this year.
— Evaluation of the effect of food on the bioavailability of cytisine – enrollment has started, the first subjects have been dosed and data analysis expected to be completed in Q4 2017.
— Assessment of repeat-dose pharmacokinetic (PK) parameters and pharmacodynamics expected to commence in Q4 2017.
2. Ovid Therapeutics Inc. (OVID)
Gained 21.48% to close Tuesday’s trading at $8.71.
News: No news
The Company made its debut on the NASDAQ Global Select Market on May 5, 2017, offering its shares at a price of $15.00 each.
The Company’s pipeline includes OV101, a potential treatment for Angelman syndrome and Fragile X syndrome, and TAK-935/OV935 for treatment of adults with rare epilepsies.
A phase II clinical trial of OV101 in adults with Angelman syndrome, dubbed STARS, a phase I trial of OV101 in adolescents diagnosed with Angelman syndrome or Fragile X syndrome, and a phase 1b/2a clinical trial of TAK-935/OV935 in adults with rare epilepsies are underway.
— The top line data from the phase I trial evaluating OV101 in adolescents diagnosed with Angelman syndrome or Fragile X syndrome are expected to be available in the second half of 2017.
— Data from the phase 1b/2a clinical trial of TAK-935/OV935 are expected next year.
3. Juno Therapeutics Inc. (JUNO)
Gained 20.09% to close Tuesday’s trading at $43.81. This is the second straight day of gain for the stock.
News: Brokerage firm Wedbush has upgraded the rating on Juno’s stock to Outperform from Neutral and has raised the target price to $42 up from $24.
Juno’s stock rose more than 18% yesterday as a sympathy play on Kite Pharma’s acquisition by Gilead. Like Kite Pharma, Juno is also focused on developing CAR T-cell therapies to cure cancer.
4. ImmunoGen Inc. (IMGN)
Gained 17.34% to close Tuesday’s trading at $7.58.
News: The Company has entered…