OSMT - 5 Top Weekly NASDAQ Biotech and Pharma Stocks: Provention Soars
The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) was on the decline last week, dropping from 3,269.13 points on Monday (June 10) to 3,238.69 points as of 2:08 p.m. EDT on Friday (June 14).
Last week, Provention Bio (NASDAQ:PRVB) announced a public offering of its common stock on Monday, but by Thursday (June 13) the company said the public offering would be cancelled, which landed the company at the top of this list.
Last week’s top gainers are as follows:
- Provention Bio
- Sunesis Pharmaceuticals (NASDAQ:SNSS)
- Enlivex Therapeutics (NASDAQ:ENLV)
- Osmotica Pharmaceuticals (NASDAQ:OSMT)
- BeyondSpring (NASDAQ:BYSI)
Here’s a closer look at those companies and what may have moved their share prices.
Provention Bio
Last week’s top gainer is Provention Bio, which is a biopharmaceutical company focused on developing products for immune-mediated diseases. It intends to in-license product candidates for diseases such a: type 1 diabetes, Crohn’s disease, celiac disease, lupus and other life-threatening diseases.
As a result of Provention Bio terminating the public offering of its common stock, shares of the company rose 154.25 percent to US$11 as of 2:17 p.m. EDT on Friday. Provention Bio said its reasoning for cancelling the public offering is because it would not be in the “best interests” of its shareholders.
Sunesis Pharmaceuticals
Sunesis Pharmaceuticals’ area of focus is on oncology therapeutics and, in particular, hematologic and solid tumor cancers. The company is advancing its novel kinase-inhibitor pipeline to treat ibrutinib-resistant chronic lymphocytic leukemia.
Sunesis Pharmaceuticals didn’t have any news last week that could relate to its share price, which rose 38.40 percent to US$0.95 as of 2:22 p.m. EDT on Friday.
Enlivex Therapeutics
Enlivex Therapeutics is developing products to balance the immune system, including for inflammatory conditions such as hyper-expression of cytokines and solid tumor immune-checkpoint balancing.
The company did not have any news last week, although it did reveal on June 6 positive data from its off-the-shelf cell therapy product which was testing in three sepsis patients.
Over last week’s five day trading period, the company’s stock rose 36.36 percent to US$15.70 as of 2:24 p.m. EDT on Friday.
Osmotica Pharmaceuticals
Osmotica Pharmaceuticals’ area of focus is on developing neurology and women’s health products.
The company has five promoted products and 35 non-promoted products which includes its proprietary Osmodex drug delivery system. Its promoted products range from methylphenidate HCl ER tablets and venlafaxine HCl ER tablets and prescription and non-prescription dietary supplements.
Shares of Osmotica Pharmaceuticals were up 35.17 percent last week to US$3.18 as of 2:22 p.m. EDT on Friday. Despite its share price increase, the company did not have any news last week to relate to the price change.
BeyondSpring
Closing out the list is BeyondSpring, another company developing immuno-oncology cancer treatments. The company’s lead drug, Plinabulin, is in a Phase 3 clinical trial to treat non-small cell lung cancer in addition to Phase 2/3 clinical programs for chemotherapy-induced neutropenia.
Shares of BeyondSpring were up 34.54 percent last week to US$21.02 as of 2:40 p.m.EDT on Friday, although there was no news last week that could be related to its share price increase.
Data for the 5 Top NASDAQ Biotech and Pharma Stocks articles is retrieved each Friday at 1:00 p.m. EDT using TradingView’s stock screener. Only companies with a market capitalization greater than $15 million and lower than $500 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.