GTx, Inc. (GTXI), Novartis AG (ADR) (NVS): This Week in Biotech

Page 1 of 2

With the SPDR S&P Biotech Index up 37% over the trailing-12-month period, it’s evident that investment dollars are willingly flowing into the biotech sector. Keeping that in mind, let’s have a look at some of the rulings, studies, and companies that made waves in the sector last week.

As always, let’s start off with some of the positive stories we witnessed this week.

GTx, Inc. (NASDAQ:GTXI)

Supernus Pharmaceuticals Inc (NASDAQ:SUPN) soared as much as 27% on Monday after announcing the approval of extended-release epilepsy drug, Trokendi XR, by the Food and Drug Administration. The clearly good news here is that Trokendi is approved in patients as young as six years of age, with Supernus being granted a waiver on certain pediatric study requirements. With Trokendi XR and Oxtellar XR now approved for the treatment of epilepsy, Supernus projects it’ll be breakeven on a cash flow basis by the end of next year. While certainly good news, quarterly losses will continue in the interim and, given that reality, shareholders wound up giving back nearly all of its early week gains by the end of the week.

In a similar instance of great news, Incyte Corporation (NASDAQ:INCY) shares skyrocketed after announcing positive proof-of-concept data from a phase 2a clinical study of ruxolitinib in cases of refractory metastatic pancreatic cancer. The data from the study in which ruxolitinib (the scientific name for Jakafi, Incyte’s FDA-approved myelofibrosis drug) was combined with Roche‘s Xeloda demonstrated six-month survival of 42% for the ruxolitinib arm as compared to just 11% for the placebo. In addition, only the ruxolitinib arm showed any durable tumor response and significant improvement in body weight.

Not to be lost on this news, either, is Novartis AG (ADR) (NYSE:NVS) which is the global licensing holder to ruxolitinib outside the United States. Novartis AG (ADR) (NYSE:NVS) recently lost patent exclusivity to its best-selling hypertensive drug, Diovan, and is definitely looking for ways to bolster its product pipeline. If ruxolitinib, a JAK1 and JAK 2 inhibitor, continues to show progress in trials, I wouldn’t be shocked to see Novartis AG (ADR) (NYSE:NVS) simply snatch up Incyte and keep 100% of sales. Shares of Incyte Corporation (NASDAQ:INCY) gained 30% this week while Novartis AG (ADR) (NYSE:NVS)’ shares added 4%.

Rounding out the good news this week with a solid gain of 20% was Pain Therapeutics, Inc. (NASDAQ:PTIE), which rallied after Pfizer announced that it would indeed be running another clinical trial for painkiller Remoxy. The Remoxy saga, which was developed by Pain Therapeutics, Inc. (NASDAQ:PTIE), is licensed to Pfizer and incorporates DURECT‘s gel-capsule technology, seems to be right up there next to Days of Our Lives for longest running daytime drama.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!