U.S. Stocks escalated on the news that oil prices move higher and energy stocks also followed the oil values trend.
Biotech Sector Highlights: In trading on Tuesday, drugs and biotechnology shares were relative shirkers, on the day by about 2.5% and 2.2% respectively.
Assisting drag down among drugs shares were shares of Onconova Therapeutics (ONTX), off about 34.7% and shares of Ardelyx (ARDX) off about 15.2% on the day, while biotechnology shares led down by Luminex Corporation (LMNX), trading lower by about 12.4% and Pluristem Therapeutics (PSTI), trading lower by about 10.6%.
Headlines Biotech Sector:
Onconova Therapeutics Inc. (NASDAQ:ONTX), declined -33.58% and is now trading at $2.66, soon after a clinical-stage biopharmaceutical company, declared that following discussions concerning the future development of rigosertib with the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and several European national regulatory agencies, the Company has solidified its plans for a Phase 3 clinical trial for rigosertib in HR-MDS patients after failure of treatment with HMAs. Pending regulatory approvals and appropriate financing, Onconova hopes to initiate trial enrollment during the second half of 2015.
Onconova Therapeutics, (ONTX), a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule drug candidates to treat cancer.
Biotech Sector Positive Moves: Following stocks are now among the survivors, in biotechnology sector, today:
Esperion Therapeutics, (NASDAQ:ESPR), inclined 11.25% and is now trading at $49.83 recently on a traded volume of 1.27million shares, in comparison to 331,790.00 shares of average trading volume. The company has a total market capitalization of $934.34 million and its total outstanding shares are 20.35 million.
Esperion Therapeutics (ESPR), a clinical stage biopharmaceutical company, focuses on the research, development, and commercialization of oral, low-density lipoprotein cholesterol lowering therapies for the treatment of patients with hypercholesterolemia and other cardiometabolic risk markers.
Salix Pharmaceuticals, Ltd (NASDAQ:SLXP,) surged 5.98% and is now trading at $141.64, following the company, declared the promotion of William P. Forbes, PharmD to President, Medical, Research and Development and Chief Development Officer. Dr. Forbes formerly served as Executive Vice President, Medical, Research and Development and Chief Development Officer. In his new role, Dr. Forbes’ responsibilities will keep on to comprise the development and post-marketing support of numerous products in a variety of therapeutic indications, counting gastroenterology, hepatology and infectious disease. Dr. Forbes will report directly to Thomas W. D’Alonzo upon Mr. D’Alonzo, Acting Chief Executive Officer and Chairman of the Board.
Salix Pharmaceuticals, (SLXP), develops, and commercializes prescription drugs and medical devices to treat various gastrointestinal diseases in the United States.
AVEO Pharmaceuticals, Inc (NASDAQ:AVEO), soared 5.64% and is now trading at $1.07,as a biopharmaceutical company, formerly declared that Michael P. Bailey, president and chief executive officer, presented at the 33rd Annual J.P. Morgan Healthcare Conference on Thursday, January 15, 2015 at 12:00PM (PT) in San Francisco.
AVEO Pharmaceuticals, (AVEO) doing business as AVEO Oncology, a biopharmaceutical company, is engaged in discovering, developing, and commercializing targeted cancer therapies using its Human Response Platform.
RXi Pharmaceuticals Corp(NASDAQ:RXII), increased 4.32% and is now trading at $1.13, soon after a biotechnology company, declared that it has been granted a patent by the United States Patent and Trademark Office (USPTO) for the delivery of double stranded siRNAs (21 to 23 nucleotides in length) across the blood-retina barrier (e.g. topical or systemic delivery) for the treatment of wet age-related macular degeneration or diabetic retinopathy. The patent, part of RXi’s attaind OPKO estate, is scheduled to expire in 2023.
RXi Pharmaceuticals Corp (RXII), a biotechnology company focuses on discovering, developing, and commercializing therapies based on its proprietary, next-generation RNA interference (RNAi) platform. The company’s lead product candidate, RXI-109, is a self-delivering RNAi compound, which is in Phase II clinical trial for use in the reduction of dermal scarring.
