The US market is off to a great start this week; showing green pretty much across the board. The biotech space is no different. However, there are some gems in biotech that you may want to watch incredibly closely. Here’s what I was able to dig up.
Anacor Pharmaceuticals Stock Climbs On Data Release
Anacor Pharmaceuticals Inc (NASDAQ: ANAC)
Anacor Pharmaceuticals is up in a big way today after announcing preliminary top line results from two Phase 3 studies of Crisoborole Topical Ointment. The ointment is a novel non-steroid anti-inflammatory phosphodiesterase-4 inhibitor. It is an experimental treatment designed to treat mid to moderate atopic dermatitis in both children and andults. The data released shows that the studies have both achieved statistically significant results in all endpoints; both primary and secondary. The study also demonstrated a safety profile that is consistent with previous studies. As a result, ANAC is soaring in the market today; currently (12:07) trading at $46.74 per share after a massive gain of 55.24%. In a statement, Paul L. Berns, CEO of Anacor Pharmaceuticals had the following to say…
“We are extremely pleased by the top-line results from our Phase 3 pivotal studies of crisaborole. We believe there is a significant unmet medical need for a novel non-steroid topical anti-inflammatory treatment option for the patients who are affected by mild-to-moderate atopic dermatitis….We also want to extend a special thanks to the clinical investigators who conducted the studies and the patients and their families who volunteered to participate in our studies. We currently plan to file a New Drug Application for crisoborole in the first half of 2016 and, if approved, we believe crisaborole could offer an important treatment option for patients with mid-to-moderate atopic dermatitis.”
Given the reason for the climb today, I don’t see any long term downtrends in the near future for ANAC. While we are likely to see a correction after massive gains, I think the overall trend is going to be relatively bullish. So, watch for pull backs as your opportunity to get in on the gains!
MannKind Corporation Is Up As investors Anticipate D2C Phase
MannKind Corporation (NASDAQ: MNKD)
MannKind Corporation is having a strong day in the market today as investors anticipate the Direct-to-Consumer phase for Afrezza. We know that this is just around the corner. However, an exact date hasn’t been provided quite yet. However, insider buying shows that it may be closer than we think. It was recently disclosed that the COO of MNKD purchased 20,000 shares in the company at a value of $91,400. Insider buys insinuate confidence from insiders that the stock will grow; and with the Direct-to-Consumer phase coming soon, there’s no reason to think any different. So, keep a close eye on this one as we’re likely to see big movement very soon.
Gilead Sciences Continues To Climb On Rights To Sell In Japan
Gilead Sciences, Inc. (NASDAQ: GILD)
If you’ve followed CNA Finance or my writing just about anywhere else, you know that I’m a big fan of Gilead Sciences. The reality is that thanks to uncertainty revolving around competition in the HCV market, the company’s stock has been kept at a relatively low price; even when earnings justified growth. However, it seems like GILD is going to see the growth it deserves moving forward. Last week, the company announced that it had received regulatory approval for the sale of Harvoni in Japan; a massive HCV market. As a result, investors have reacted in an overwhelmingly positive way; pushing the stock up. Considering the low valuation on the stock and massive upside potential, I don’t see any major downtrends in Gilead’s near future. So, keep your eye out for dips as they will likely prove to be incredibly profitable times to buy!
Synergy Pharmaceuticals Is Likely To See Big Gains Soon
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals has been one of my favorite stocks in biotech to watch recently. The reason revolves around the company’s experimental drug known as plecanatide. Last week, the company brought a new member to the board for the commercialization of the drug; showing that a New Drug Application with the FDA isn’t far off. Generally, when NDAs are submitted, they prove to be catalysts for the stock; and I’m not expecting anything different in this case. So, this is another one to watch closely as its likely to present a strong opportunity for gains.
Do You Know Of Any Others?
Do you know of any other stocks in biotech that are presenting strong opportunities? If so, let us know in the comments below!