On Monday, U.S. stocks dropped down, pulling back from records following the news regarding a decline in oil prices weighed on energy stocks.
General News Regarding Biotech Sector:
One of the key requirements for the expansion of the Biotech/Pharma/Healthcare segment at the Techgig.com (an online discussion forum by the Times Group) Boardroom Dialogues is to address the skill-gap in this highly specialized sector.
Speaking at length on the occasion Jacob Jacob, CPO, Apollo HospitalsBSE 1.38 % said, “The NSDC’s report, the NIAHS study on AHPs and the twelfth five year plan all call for an raise in spending by the government, especially in creating professionals for the future. Allocation towards specific projects and schemes for promoting skill development is the need of the hour. Raise in the skilled workforce by increasing the number of institutions, opening educational institutions to raise private participation and continuous support by the government will go a long way in handling this critical issue.”
The comprehensive details about few active gainers from biotech sector, during the recent trade are illustrated as under:
Biocept, Inc. (NASDAQ:BIOC)’s shares skyrocketed 62.07% and is now trading at $2.37, soon after a cancer diagnostics company, declared that its blood-based diagnostic, OncoCEE-BR(TM), was used to determine hormonal status of metastatic breast cancer patients in a prospective study performed at the Columbia University College of Physicians and Surgeons in New York City. Findings from the Columbia study were recently published in the peer-reviewed journal Clinical and Translational Oncology.
Breast cancer remains one of the most lethal forms of cancer despite advances in early detection and treatment. A patient’s hormone receptor (HR) status, which comprises estrogen receptor (ER) and progesterone receptor (PR) status, conveys both prognostic and predictive implications for patients with breast cancer. Up to 75 percent of breast tumors rely on ER signaling to grow. Targeting this pathway with anti-estrogen therapy has been shown in trials to have a clear clinical benefit in the treatment of this subset of breast cancer patients. Understanding HR status at the time of diagnosis, occurrence of metastasis and throughout the course of therapy can assist inform patient treatment and, ultimately, has the potential to influence patient outcome.
“These findings could ultimately have noteworthy implications in how we treat advanced stage breast cancer patients,” said Kevin Kalinsky, M.D., Assistant Professor of Medicine at Columbia University Medical Center and first author of the paper. “Since it is not always feasible to obtain metastatic tissue from breast cancer patients, CTCs are an attractive alternative source of tumor material. CTCs provide real-time information about the HR status of a tumor that can be monitored more readily on an ongoing basis.”
The ultimate aim of CTC evaluation is to assist physicians with making treatment decisions, such as the role of anti-estrogen therapy. The Columbia study shows that CTCs afford diagnostic results that are comparable to tumor tissue.
Biocept, Inc. (NASDAQ:BIOC), headquartered in San Diego, Calif., is a commercial-stage oncology diagnostics company focused on providing information on patients’ tumors to physicians using its proprietary technology platform to assist improve individual patient treatment. Biocept has developed proprietary technology platforms for capture and analysis of circulating tumor DNA, both in circulating tumor cells (CTCs) and in plasma (cell free tumor DNA).
Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), jumped nearly 38.04% and is now trading at $3.59, soon after the news release that a clinical-stage drug development company, and Bristol-Myers Squibb Company (BMY) declared that they have reached a partnership contract for the discovery, development and commercialization of cancer immunotherapies based on Rigel’s extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and raise the ability of tumors to spread in the body. The partnership will focus on developing a new class of therapeutics aimed at increasing the immune system’s activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, counting Bristol-Myers Squibb’s Opdivo (nivolumab) and Yervoy (ipilimumab).
Under the terms of the contract, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel’s TGF beta library, counting, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30 million upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309 million for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
“This partnership places our TGF beta receptor kinase inhibitor program into the hands of Bristol-Myers Squibb, a premier immuno-oncology company. Together, we believe TGF beta inhibition may offer novel therapeutic opportunities in oncology treatments,” said Raul Rodriguez, president and chief executive officer of Rigel. “Rigel has focused on immunology, and oncology via numerous partnerships. This partnership is Rigel’s first in immuno-oncology and is one of the Company’s several programs in this area.”
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory and autoimmune diseases, immuno-oncology related diseases, and muscle disorders. Rigel’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.
Celldex Therapeutics, Inc. (NASDAQ:CLDX), surged 16.64% to $24.78, soon after a biopharmaceutical company, releases that the U.S. Food and Drug Administration (FDA) has granted rindopepimut (Rintega(R)) Breakthrough Therapy Designation for the treatment of adult patients with EGFRvIII-positive glioblastoma (GBM). This application was based on data from the Phase 2 ReACT study in recurrent GBM, the Phase 2 ACT III study in newly diagnosed GBM and additional supportive Phase 2 studies. An international Phase 3 study of rindopepimut, called ACT IV, in newly diagnosed GBM accomplished enrollment (n=745) in December of 2014.
“The FDA’s decision to grant Breakthrough Designation underscores rindopepimut’s therapeutic potential for patients with glioblastoma,” said Anthony Marucci, Co-founder, President and Chief Executive Officer of Celldex Therapeutics.
Celldex Therapeutics, Inc. (NASDAQ:CLDX), is developing targeted therapeutics to address devastating diseases for which accessible treatments are inadequate. Our pipeline is built from a proprietary portfolio of antibodies and immunomodulators used alone and in planned combinations to create novel, disease-specific therapies that induce, enhance or suppress the body’s immune response.
Shares of the CorMedix, Inc. (NYSEMKT:CRMD), gained 13.39% & is now trading at $5.25, hitting new 52-week high of $5.46. The company has the market capitalization of 117.92M. 1.06M shares changed hands compared to its average volume of $471,465.00. Its 1-year performance shows 145.33% increase.
CorMedix, Inc. (NYSEMKT:CRMD), is a development-stage specialty pharmaceutical company. The Company in-licenses, develops and commercializes therapeutic products for the prevention and treatment of cardiac, renal and infectious diseases, specifically in the dialysis and non-dialysis areas.
