Lexicon Pharmaceuticals Climbs On Positive Phase 3 Data
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX)
Lexicon Pharmaceuticals is today’s biggest gainer in biotech; and for good reason. Early this morning, the company released data from it’s Phase 3 clinical trial, known as TELESTAR. The trial looked into the effectiveness of telotristat etiprate in treating cancer patients that are suffering from carcinoid syndrome for whom standard of care is proving to be ineffective. The next big move for the company from here will be working with the FDA in order to get the treatment to the market. Here’s what Lonnel Coats, CEO of Lexicon Pharmaceuticals had to say about the results of the study…
“We are extremely pleased with these top-line results…. Carcinoid syndrome is severely debilitating, preventing many patients from leading active and predictable lives, and unfortunately, a majority of patients will not be adequately controlled over time with the current standard of care. We are committed to working with the FDA to file our first new drug application and to bring this innovative new treatment to patients whose lives are already impacted by the challenges of cancer.”
As a result of the data release, LXRX is currently (1:00) trading at $13.50 per share after a massive gain of 59.95% so far today. However, I don’t think we’ve seen the last of the gains. As the company’s first NDA is filed and telotristat etiprate becomes an approved treatment, the sky really is the limit.
Synergy Pharmaceuticals Continues To Battle The Bears
Synergy Pharmaceuticals (NASDAQ: SGYP)
Synergy Pharmaceuticals isn’t having the best time in the market today as the battle between the bears and the bulls continues on. Unfortunately, short interest is driving the stock down; even though there are plenty of reasons for this one to climb. After all, SGYP did meet their primary endpoint on both of their phase 3 studies of plecanatide and will be heading for a new drug application with the FDA as the next step. With that said, I wouldn’t be surprised if the battle continued to hold the stock in a flat range until we receive more news about the NDA. Nonetheless, I am expecting to see massive growth in the long term; first as the NDA is submitted and another big run upon approval. So, now may be the time to consider jumping in at a discount. Currently (1:04), SGYP is trading at $8.78 per share after a loss of 3.76% so far today.
Gilead Sciences Continues Trending Up
Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences has been trading at a discount for quite some time now as the bears continue to push the resistance. Nonetheless, I don’t think that discount is likely to last much longer; especially considering the growth we’ve seen from the stock over the past week. The growth is the result of an easing of concerns that revolved around the company’s dominance of the HCV treatment market as ABBV stepped in to take their piece. Nonetheless, with their recent earnings report, Gilead Sciences proved that they have strength and stability on their side. Also, with the recent regulatory approval in Japan, growth is all but imminent. With that said, if you plan on taking advantage of the GILD discount, you may need to act soon. Currently (1:09), GILD is trading at $118.87 per share after a gain of 0.86% so far today.
Exelixis Sees Gains As Investors Shrug Off Secondary Offering
Exelixis, Inc. (NASDAQ: EXEL)
Exelixis has a relatively interesting story to tell as of late. After seeing massive gains as the result of positive phase 3 data from their most recent clinical study, Exelixis released a secondary offering that caused concerns for investors; leading to declines. However, the stock is growing again as investors shrug off the secondary offering and focus on the company’s core growth potential. With a new drug application just around the corner, strong investor sentiment, and a strong team, this one is likely to see big growth moving forward. Currently (1:13), EXEL is trading at $5.99 per share after a gain of 4.54% so far today.