NEW YORK, NY / ACCESSWIRE / March 21, 2017 /
For biotech firms, there generally is not much news that will thrills investors. Generally, investors do not expect much from their investment for years as the drug or technology goes through the FDA approval process, which can take 3 years or longer. For these two firms, today was a day for investors to start to celebrate, as one received an important extension from a major pharmaceutical firm, while another makes a breakthrough by breaking from convention.
Nektar Therapeutics https://ub.rdinvesting.com/news/?ticker=NKTR
The company announced significant positive news from its current drug candidate, NKTR-181. The Phase 3 efficacy study of the drug NKTR-181, which is a first in its class of opioid analgesics indicated the new chemical entity (NCE) that is the first full mu-opioid drug was effective to provide potent pain relief to patients without the high levels of euphoria that a major contributor to drug abuse and addiction that accompany standard opioids. The company's stock rose $6.61 a share with significantly higher volume to close at $22.21, a decade high. After hours trading showed the stock price continuing to rise. With the granted fast-track designation of NKTR-181, investors are feeling bullish on prospect of improving bottom line, as the company management has indicated in the last conference call about their plan to out-license the drug to an established player and a company with long-term commitment in the pain market. In the ongoing battle against opioid abuse and addiction, the discovery and creation of an opioid pain killer that is safe and non-addictive is a major step in the war against the illegal distribution and sale of prescription drugs.
Access RDI's Nektar Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=NKTR
One way a small cap biotech firm can get a boost in stock price is by having the confidence of an established pharmaceutical company get behind it. That is exactly what happened to CytomX Therapeutics on Monday, as Bristol-Myers Squibb Company and CytomX announced their expansion of the 2014 strategic collaboration agreement. CytomX is in the process of discovering new therapies for cancer treatment. There are 8 other candidates that will be using CytomX's proprietary Probody platform. The stock rose $3.71 a share to close at $18.89 per share on Monday. It closed at $15.20 a share on Friday. Earlier this month on March 2nd, the company posted it 2016 full year financials, with a loss of $1.63 a share on a revenue of $15 million for the year 2016, as compared to loss of $4.9 a share on revenue of $7.7 million reported for the year 2015. The company had cash and cash equivalents along with short-term investments of $181.9 million and this the company expects is sufficient enough to sail throughout 2018 to fund its operations without any additional capital infusion.
Access RDI's CytomX Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=CTMX
Our Actionable Research on Nektar Therapeutics (NASDAQ: NKTR) and CytomX Therapeutics Inc. (NASDAQ: CTMX) can be downloaded free of charge at Research Driven Investing.
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