As you can observe from the chart, the latest wedge pattern is showing a trading range of roughly 245 to 300 on the iShares Nasdaq Biotechnology ETF. The 50 dma has just been broken to the downside. Caution heading into October markets. Here is a run down of IBB return performance over the last 6 years:…
CLVS Weekly Chart CLVS Daily Chart Clovis Oncology (CLVS) shares shot up more than 30 percent today after the U.S. Food and Drug Administration accepted the company’s New Drug Application (NDA) for accelerated approval of rucaparib, an anti-cancer agent. Clovis was also granted priority review status to the application with a Prescription Drug User Fee Act (PDUFA)…
CYCC Weekly Chart CYCC Daily Chart After Cyclacel Pharmaceuticals Inc. (CYCC) released its 2Q 2016 financial results and issued some operational updates, some traders have been accumulating this compelling stock that is at the moment flying under the radar. Some analysts who are bullish on Cyclacel Pharmaceuticals Inc. have maintained their buy rating on the stock and…
AMPH Weekly Chart AMPH Daily Chart Amphastar Pharmaceuticals Inc. (AMPH) is breaking out technically today with news of second-quarter net income of $6.9 million, after reporting a loss in the same period a year earlier. The Rancho Cucamonga, California-based company said it had net income of 15 cents per share. Earnings, adjusted for one-time gains and…
BIIB Weekly Chart BIIB Daily Chart Biogen (BIIB), the $75 billion biotech giant, was up nearly 10% today after a report circulated that the company has received takeover interest. It is being reported that Merck (MRK) and Allergan (AGN) have each expressed interest in doing a deal. Sources said the discussions were informal and preliminary, and they may not…
KOOL Weekly Chart KOOL Daily Chart Thinly traded nano cap Cesca Therapeutics (KOOL) has been trading up astoundingly on healthy volume since its bottom a few months back. No particular news accounts for its most recent breakneck move, although such moves of this kind sometimes occur before a public offering of equity. A few days ago, the company…
TMO Weekly Chart TMO Daily Chart Thermo Fisher Scientific (TMO) spends approximately $700 million on R&D (research and development) per year sporting the largest R&D budget in the laboratory equipment industry as compared to its peers. The company now has more than 800,000 products in its portfolio with an extensive product pipeline and also has a leading patent portfolio. Thermo has since…
RLYP Weekly Chart RLYP Daily Chart After a year of takeover rumors that seemed to fizzle out into nothing, Relypsa (RLYP) has finally found its match in the biotech’s drug marketing partner and Swiss healthcare company Galenica, which will buy the company for $1.53 billion. After AstraZeneca’s (AZN) $2.7 billion buyout last year of ZS…
Chart Credit: Tim Knight IBB Weekly Chart IBB Daily Chart
EVOK Weekly Chart EVOK Daily Chart Evoke Pharma Inc. (EVOK) has lost over 70% today after the company’s diabetic gastroparesis drug, EVK-001, for female patients missed its primary endpoint in phase 3 topline results. “The topline results are unexpected and an anomaly, given that metoclopramide has been approved and used for treating diabetic gastroparesis for more than…
SAGE Weekly Chart SAGE Daily Chart Sage Therapeutics (SAGE) is surging nearly 40% today after the company reported positive results from a trial of a drug to treat severe postpartum depression. The company said a Phase 2 trial of SAGE-547 met its primary endpoint of a significant reduction in symptoms compared to placebo at 60 hours.…
SGNT Weekly Chart SGNT Daily Chart Shares of Sagent Pharmaceuticals Inc. (SGNT), soared nearly 40% today after the drug maker agreed to be acquired by Japan-based Nichi-Iko Pharmaceutical Co. Ltd. The acquisition price represents a premium of approximately 40% to Sagent’s closing price of $15.50 per share on July 8, 2016. The merger deal brings together two leading…
JUNO Weekly Chart JUNO Daily Chart Juno Therapeutics (JUNO) said late Thursday that its midstage leukemia trial had been put on clinical hold after two patients died. This was a Phase II clinical trial of JCAR015 in adult patients with relapsed or refractory B cell acute lymphoblastic leukemia known as the “ROCKET” trial. The clinical hold was…
NTLA Weekly Chart NTLA Daily Chart Intellia Therapeutics Inc. (NTLA), a biotechnology company working on “editing” defective genes, is developing potential treatments for liver and blood diseases and cancer. It is one of the few biotech companies focused on a technology called Crispr-Cas9 that has raised hopes for future drugs that could home in on specific…
ESPR Weekly Chart ESPR Daily Chart Esperion Therapeutics (ESPR) has tumbled over 40% today after the biotech company said it might not be able to win FDA approval for its anti-cholesterol drug based on its cholesterol-cutting ability alone as the FDA wouldn’t provide the company with clarity on whether proof that the drug lowers bad cholesterol. This…
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