3 Biotech Stocks Under the Microscope on Wednesday 8/9/17

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Accesswire 9-Aug-2017 11:15 AM
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CORAL GABLES, FL / ACCESSWIRE / August 9, 2017 / Biotechnology has found itself at the cross roads of many leading applications across several industries. The pharmaceuticals industry has taken a leading role and has emerged as the main target area of most biotechnology applications.
The industrial application of biotechnology has also been growing with the rising demand for biofuels and bioenzymes in a number of applications. With the market continuing to press higher and higher during earnings season, many of these volatile biotech stocks have taken the spotlight.
GT Biopharma (OXIS)has climbed by as much as 129.5% since the end of July. Recent announcements include the proposed agreement to acquire Georgetown Translational Pharmaceuticals Inc., as well as the enrollment of 4 patients for the company's FDA-approved Phase 2 clinical trial of its cancer therapy, OXS-1550. The company will be hosting a conference call on August 19 to discuss these developments. During the last few days, shares of (OTCQB: OXIS) have pulled up from lows of $0.0341 to just under $0.04 on Wednesday, August 9.
In a recent update, the company stated, "The additions of the GTP pipeline and CEO Dr. Kathleen Clarence-Smith along with our new incoming CMO (formerly Chief Medical Officer, Oncology at Pfizer, Inc. (PFE), will be instrumental in completing (OXIS)FDA phase 2 clinical trial and advance the highly sought after TriKE oncology platform technology from Dr. Jeff Miller of the University Of Minnesota Masonic Cancer Clinic. Additionally, we are very excited with the incoming GTP product pipeline, which adds significant value with the fast pathway of central nervous system products as they continue to move towards commercial license."
(OXIS) will be hosting a conference call to go into the details of its latest developments at 4:15pm EST on Wednesday, August 16, 2017. The dial in number for the call is 712-775-7031. Meeting ID number is 576-591-822.
For More Information on (OXIS) Click Here
Following suit with other biotech stocks, Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) has seen a dramatic rise in share price on Wednesday. The company announced second quarter earnings on August 8 but also released information that it has achieved proof-of-concept with the clinical development for its ACH-4471 therapy.
Achillion reported a net loss of $22.5 million or $0.16 per share, compared with a net loss of $18.5 million or $0.14 per share for the second quarter of 2016. Cash, cash equivalents, marketable securities, and interest receivable as of June 30, 2017 were $369.9 million.
"I am very excited by the clinical performance of ACH-4471 in the first patients to receive treatment, particularly the improvements in hemoglobin and self reported well-being that have been observed in my patients," commented Peter Browett, M.D., Professor of Pathology, Haematologist, and principal investigator in the ACH-4471 phase 2 study. During Wednesday's morning session, shares of Achillion hit highs of $5.66, which was 41% higher than where it closed on Tuesday, August 8.
Also reporting earnings, Opko Health, Inc. (OPK) saw a favorable response in the market on Wednesday morning. On Tuesday, the company reported a second-quarter loss of $17.5 million, after reporting a profit in the same period a year earlier. However, these results exceeded Wall Street expectations.
On the company's earnings call, CEO Phillip Frost stated, "As time goes on we expect to see better results for all financial progress particularly cash flow. Against that backdrop we're marketing and selling two great products, RAYALDEE for chronic kidney disease and that can be disease and the 4Kscore test which stands out among a variety of tests for aggressive prostate cancer for its clinch utility and reliability I think you can see why we're so enthusiastic."
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