Biotech Stocks Today: MannKind (MNKD), AEterna Zentaris (AEZS), Gilead Sciences (GILD), CTI BioPharma (CTIC)

MannKind Corporation Starts To See Gains

MannKind Corporation (NASDAQ: MNKD)

MannKind has had tough luck in the market for the past several months. While they have created Afrezza, a key player in medical innovation, the company they contracted for commercialization hasn’t been able to get the sales up. However, I wrote a post in detail earlier today explaining why sales have been slow and why I believe that sales are likely to pick up relatively soon. To recap, the poor sales had quite a bit to do with no marketing and no insurance coverage. However, these issues are coming to an end. In fact, about 80% of major insurance companies will be covering Afrezza in one way or another relatively soon. On top of that, Sanofi recently started the direct to consumer campaign which is improving consumer awareness. All in all, I believe that MNKD investors will be pleasantly surprised relatively soon.

AEterna Zentaris Is Trading Up On High Volume

AEterna Zentaris Inc. (NASDAQ: AEZS)

AEZS is having a great day in the market trading on high volume after finding a new level of support at $0.07 per share. According to NASDAQ, the 50-day average volume on the stock has been 15,416,220 shares. However, so far today (2:00) 39,940,921 shares have traded hands. Currently, AEZS is trading at $0.10 per share after a gain of 25.58%.

Gilead Sciences Continues Declining On Hillary Clinton’s Comments

Gilead Sciences, Inc. (NASDAQ: GILD)

Gilead Sciences is having a rough day in the market today and has been for the past few trading sessions. The declines on the stock are the result of comments made by Hillary Clinton. Her plan is to reduce the cost of prescription medications for those suffering from chronic illnesses. However, when you look into the details of the plan, I don’t think that it will make it through any voting process. Simply put, a plan like that is likely to halt medical innovation. With that said, while I do believe that GILD is likely to continue declining in the short term, I still believe that this is a strong stock for investors looking for long term gains. Currently (2:04), GILD is trading at $105.44 after a loss of 1.00% so far today.

CTI BioPharma Climbs On NDA Plans

CTI BioPharma Corp (NASDAQ: CTIC)

CTI BioPharma is having a great day in the market today after announcing its plans to submit a new drug application to the US Food and Drug Administration. The application will revolve around pacritinib, an investigational oral kinase inhibitor. CTIC plans on submitting the NDA in the fourth quarter of 2015 and will be requesting accelerated approval for the treatment of patients with intermediate and high-risk myelofibrosis. To learn more about pacritinib, click here. As a result of the announcement, CTIC is currently (2:08) trading at $1.56 per share after a gain of 8.33% so far today.

[Image Courtesy of Amgen]

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