Healthcare and biotechnology have not faltered during recent weeks. No matter what announcements have come up regarding the potential trade war, stocks in this sector have continued to rally this summer. A number of mid and late stage biotech stocks have begun reporting pivotal research progress that could help bolster more attention in the market.
In line with this, the iShares Biotechnology Index (IBB) has risen an impressive 8.9% this year, and the market for small, early-stage biotech stocks is even more active than the industry tracking index suggests. Here are 3 biotech stocks to watch as the second half of the year begins to heat up.
GT Biopharma (GTBP) – Market Cap: $96,832,678
This small cap biotech company has put together a vast pipeline of treatments. Its more recent highlights center around the company’s immuno-oncology platforms. Aside from announcing a private placement of convertible debentures for gross proceeds of $5,140,000, GT Biopharma has also begun to build relationship to enhance its OXS-1550.
The company announced on July 19 a Material Transfer Agreement between a Major Pharmaceutical Company and Dr. Daniel Vallera, Director, Section of Molecular Cancer Therapeutics at the Masonic Cancer Center, University of Minnesota.
This Major Pharmaceutical Company will supply a formulation of their multibillion-dollar, widely prescribed oncology drug, which has been approved for use in several hematologic malignancies to Dr. Vallera to be used in this study.
Strongbridge Biopharma (SBBP) – Market Cap: $204,905,993
This week Strongbridge Biopharma plc, announced top-line results from the multinational, pivotal Phase 3 SONICS study evaluating RECORLEV™ (levoketoconazole) for the treatment of endogenous Cushing’s syndrome.
The company also reported second quarter 2018 financial results. Achieved KEVEYIS net product sales of $4.3 million in the second quarter of 2018, a 187 percent increase compared to $1.5 million in the second quarter of 2017. Additionally, full-year 2018 KEVEYIS revenue guidance remains $18 – $20 million.
INSYS Therapeutics, Inc. (INSY) – Market Cap: $490,829,212
Shares of INSYS have been in an uptrend for the better part of the last week. The company announced today that it has reached an agreement in principle with the Department of Justice to settle the DOJ’s civil and criminal investigation into inappropriate sales and commercial practices by some former company employees.
“This is a very important step for our company to move forward and continue our transformative efforts to foster a compliant and ethical culture and to execute against our well-differentiated product pipeline, which we believe can bring value to patients globally,” said Saeed Motahari, president and chief executive officer of INSYS Therapeutics.
MIDAM VENTURES LLC., a Florida Corporation has been compensated $200,000.00 by GT Biopharma Inc. for a period beginning July 16, 2018 and ending August 16, 2018 to publicly disseminate information about (GTBP). Midam owns zero shares. We may buy or sell additional shares of (GTBP) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.
Biotech Breakroom 