Today is a rough day for the market across the board. As the Federal Reserve gets closer and closer to an October rate hike, investors are balancing their portfolios for the higher risk that comes with the hike. However, in the biotech arena, there are four stocks that are doing incredibly well. Here they are…
AEterna Zentaris Inc. (NASDAQ: AEZS)
AEZS is having a strong day in the market after announcing data from a Phase 2 clinical trial of zoptarelin doxorubicin (AEZS-108). The company announced that the treatment has met the primary end-point of providing a clinical benefit, defined as remaining progression-free by Recist and Prostate Specific Antigen after treatment for 12 or more weeks of patients. During the announcement, David A. Dodd, CEO of AEterna Zentaris had the following to say…
“We are encouraged with the Phase 2 results for zoptarelin doxorubicin in prostate cancer. Because luteinizing hormone-releasing hormone receptors are expressed in a great number of cancers including prostate cancer, we believe that zoptarelin doxorubicin, which specifically targets those receptors, may represent a novel targeted treatment for men with this disease. These Phase 2 results in prostate cancer, as well as prior positive Phase 2 results in endometrial and ovarian cancer, are further demonstration of the potential of this innovative compound in a variety of cancer indications for both men and women.”
Following the news, AEZS is having a strong day in the market. The stock is currently (12:10) trading at $0.10 per share after a gain of 8.97% so far today.
VIVUS, Inc. (NASDAQ: VVUS)
VIVUS is also having a strong day in the market today. However, the reason for the increase is a bit different. On Friday, VVUS had a rough day in the market, falling more than 3% in the trading session. However, in these cases, we have to remember that price movement in the market generally happens through a series of overreactions. Ultimately, this led to increases in both share price and volume today after the stock met support. While the 50 day average volume on the stock is 3,345,151, 3,747,633 shares have already traded hands. Currently (12:15), VVUS is trading at $1.73 per share after a gain of 10.58% so far today
Edap TMS SA (ADR) (NASDAQ: EDAP)
EDAP is also having a strong day today on high volume. The 50 day average volume on the stock is 160,587 shares. However today, 611,297 shares have already traded hands. Today’s growth follows strong growth from Friday’s trading session in which the stock gained more than 8%. The gains we’re seeing from EDAP are the result of an update provided on September 24th which informed investors of growing momentum experienced by HIFU technology in the European market. The momentum is particularly targeting treatment of prostate cancer; great news for the company that maintains a portfolio of minimally invasive medical devises for the treatment of urological disease. Currently (12:21), EDAP is trading at $5.72 per share after a gain of 1.24% so far today.
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