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3 Biotech Stocks That Are Soaring Higher Source: Achillion Pharma
1. PTC Therapeutics (NASDAQ: PTCT) PTC Therapeutics is an emerging stage biotechnology company. The company’s lead product is Translarna, a treatment for Duchenne muscular dystrophy that won EU approval last August. The company began submitting a rolling filing for approval with the FDA in December. PTC Therapeutics expects to have late stage trial data to support that submission in the fourth quarter.
Here’s What You Need To Know Shares jumped on acquisition rumors. Competitor Prosensa was bought by BioMarin in November for $680 million. BioMarin and Shire are mentioned as potential suitors. Roche is a collaboration partner on PTC’s SMA drug program. The company reported earnings on the 27th. Revenue of $12.7 million in Q4. Loss of $0.84 per share in Q4. EU roll-out continues in ‘15.
2. Tesaro Inc. (NASDAQ: TSRO) Tesaro Inc. is a clinical stage biotechnology company. The company is developing cancer treatments including oral rolapitant for chemotherapy induced nausea and vomiting, and niraparib, for ovarian cancer. Oral rolapitant FDA PDUFA date is September 5th, 2015. Phase 3 niraparib breast cancer trial continues enrolling; other trials kicking off in ‘15.
Here’s What You Need To Know Shares soared after the company updated investors on its progress. Oral rolapitant licensed from Opko Health in 2010. CINV market is big and growing. Potential launch in early ‘16. Niraparib first line ovarian cancer trial and small cell lung cancer trial to begin in 2H2015. The company has no approved drugs on the market yet. CEO is Lonnie Moulder. Moulder previously founded and sold the cancer companies MGI Pharma & Abraxis.
3. Pharmacyclics Inc. (NASDAQ: PCYC) Pharmacyclics is a commercial stage biotech company. The company generates its revenue through the sale of the blood cancer drug Imbruvica. Pharmacyclics collaboration partner on Imbruvica is Johnson & Johnson.
Here’s What You Need To Know Shares surged after Pharmacyclics reported its Q4 and 2014 results. Q4 Imbruvica sales of $185 million, up from $142 million in Q3. Full year Imbruvica sales of $492 million in its first full year. Guidance is for $1 billion in Imbruvica sales in 2015. Shares also spiked on acquisition rumors. J&J splits profit on Imbruvica 50/50 with Pharmacyclics. Pharmacylics has $220 million more in potential milestones due from J&J.
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