Feb 25, 2016

Posted by in Biotech Stocks | 0 Comments

3 Sizzling hot biotech stocks – Gilead Sciences Inc. (GILD), MannKind Corporation (MNKD), PTC Therapeutics, Inc. (PTCT)

3 Sizzling hot biotech stocks – Gilead Sciences Inc. (GILD), MannKind Corporation (MNKD), PTC Therapeutics, Inc. (PTCT)

 

Gilead Sciences Inc. (NASDAQ:GILD)rose+1.14% to finish at $89.36. Gilead Sciences Inc. (NASDAQ:GILD) on February 24, 2016, announced results from a preclinical study conducted in collaboration with researchers at Beth Israel Deaconess Medical Center evaluating a proprietary investigational oral toll-like receptor 7 (TLR7) agonist, GS-9620, and a related molecular analogue, GS-986, as part of an HIV eradication strategy. Data from the study conducted in simian immunodeficiency virus (SIV)-infected virally suppressed rhesus macaques on antiretroviral therapy (ART) demonstrate that TLR7 agonist treatment induced transient plasma SIV RNA blips and reduced SIV DNA. In addition, TLR7 agonist treatment resulted in subsequent prolonged virus suppression in some of the macaques after stopping ART. These data were presented in an oral session (Session O-7) at the 2016 Conference on Retroviruses and Opportunistic Infections (CROI) in Boston.

MannKind Corporation (NASDAQ:MNKD)gained+6.72% to end the trading session at $1.00. MannKind Corporation (NASDAQ:MNKD) on February 19, 2016, announced that on February 17, 2016 MannKind received notice from Alfred E. Mann that he was resigning as Executive Chairman and as a board member effective immediately.  On February 18, 2016, the directors of MannKind named Kent Kresa as Chairman of the Board and also named Mr. Mann as Chairman Emeritus of MannKind.  Mr. Mann will continue to advise the Company as an employee in a non-executive capacity.

“Al founded this company in order to bring his unique flair for medical innovation to the biopharmaceutical space,” said Matthew Pfeffer, Chief Executive Officer of MannKind Corporation.  “We are awed by his many accomplishments during a legendary career and are proud to continue Al’s decades-long pursuit of addressing the unmet needs of patients with diabetes and other serious illnesses.”

PTC Therapeutics, Inc. (NASDAQ:PTCT) declined -3.04% to finish at $10.51. PTC Therapeutics, Inc. (NASDAQ:PTCT) on 23 February 2016, announced that it received yesterday evening a Refuse to File letter from the United States Food and Drug Administration (FDA) regarding PTC’s New Drug Application (NDA) for Translarna™ (ataluren), an oral, first-in-class, protein restoration therapy for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD). The FDA states in the Refuse to File letter that the application was not sufficiently complete to permit a substantive review.  PTC first learned of the Refuse to File decision via this letter and is reviewing its content to determine the appropriate next steps.

 

 

 

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