The Medical sector is one of the sectors to have recorded consistent earnings growth over the last few quarters. Biotech stocks are keeping pace and as economic growth continues to bring strong cash flow into the market, new expansionary means are being taken to become a boon to new opportunities within the sector. Friday has seen a strong rally in the markets and that has helped give a boost to a number of stocks.
GT Biopharma (GTBP) saw its shares climb to highs of $2.10 on Friday morning. The company announced today that it has appointed David Cardino, CPA, MBA as Vice President of Finance. Most recently, Mr. Cardino led the finance and accounting operations of Agensys, Inc., a U.S. based oncology research center of Astellas Pharma, Inc., with a pipeline of naked and antibody-drug-conjugated (ADC) therapeutic antibodies directed at a variety of cancer indications, with annual expenses and capital investment in excess of $100M.
Outside of this news, under the terms of an agreement signed earlier this year, a 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 his study related to the company’s immuno-oncology products. The initial pre-clinical work performed by Dr. Vallera suggests a much greater effect when OXS-1550 is given in combination with this established oncology drug.
Geron Corporation (GERN) is a clinical stage biopharmaceutical company focused on collaborative development of a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. Shares of the company jumped to highs of $5.81 after opening at $4.50. Since Monday morning’s opening bell, the stock has climbed by as much as 45%. Volume also shot up by more than 4 times its trailing 30 day average.
On the company’s recent earnings conference call, CEO Scarlett began by handing off to CFO Bloom. She reported on Geron’s net loss for the quarter of $6.9 million in contrast to the comparable quarter in 2017 loss of $6.4 million. Geron’s Q2, 2018 net reflects $3.2 million of research and development expenses for its share of costs under the collaboration agreement together with $4.2 million of general and administrative expenses.
BioRestorative Therapies, Inc. (BRTX) joins the list of movers today as shares of the company hit fresh highs of $2.30 on Friday. This is up from this week’s lows of $1.03. Earlier this month the company announced that the Journal of Translational Medicine has published the results of the Company’s study evaluating the benefits of long-term hypoxic (low oxygen) culturing of human bone marrow-derived mesenchymal stem cells (cells used in the Company’s product, BRTX-100). The study included data on cell fitness and whole genome expression and discussed its implication on cellular therapies targeting intervertebral discs and its microenvironment.
Francisco Silva, VP of Research and Development commented on these developments, “Based on our research, it is clear that the use of hypoxic cells that are used in our product, BRTX-100, provides substantial benefits as compared to cells that are cultured in normoxic conditions.”
Pursuant to an agreement between Midam Ventures LLC and GT Biopharma, Midam has been paid $200,000 from the company and ZERO shares of GT Biopharma Inc. for a duration beginning July 16, 2018, and ending August 16, 2018. Midam Ventures has been paid an additional $200k by GT Biopharma and has extended its marketing period through Sept 16, 2018. Midam 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 