5 Top Weekly NASDAQ Biotech Stocks: Adamis Rises 45.31 Percent

Last week, the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) had a big increase compared to previous weeks with a 5.91 percent jump over the trading week. From Monday’s (July 2) low of 3,433.39 points the index increased steadily to 3,636.62 points as of 12:20 p.m. EST Friday (July 6).

This past week may have been slow for news as July 4 celebrations took centre stage, however the big pharma players and micro market capitalization companies alike shared exciting news for investors. Aside from the companies highlighted on our weekly top NASDAQ biotech stocks list, Elite Pharmaceuticals (OTCBB:ELTP) received US Food and Drug Administration (FDA) approval for generic percocet tablets, while Sorrento Therapeutics (NASDAQ:SRNE) acquired the Sofusa lymphatic delivery technology platform from Kimberly-Clark.

Later in the week Bristol-Myers Squibb (NYSE:BMY) received European Commission expanded indication approval for Sprycel (dasatinib), this is to include the treatment of children and adolescents aged 1 year to 18 years with Philadelphia chromosome-positive (Ph+) chronic myeloid leukemia (CML) in chronic phase (CP), and to include a powder for oral suspension formulation. In other news, Zynerba Pharmaceuticals announced negative top line results from its a Phase 1 clinical program studying ZYN001.

On that note, a number of other biotech and pharma stocks also had big weeks in terms of rising share prices, including:

Biotech Stocks in 2018

 

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  • Adamis Pharmaceutical (NASDAQ:ADMP)
  • Juniper Pharmaceuticals (NASDAQ:JNP)
  • Anavex Life Sciences (NASDAQ:AVXL)
  • Arbutus BioPharma (NASDAQ:ABUS)
  • Soleno Therapeutics (NASDAQ:SLNO)

Here’s a closer look at those companies. All figures are quoted in US dollars and figures are taken from Google Finance as of 1:30 p.m. EST on Friday.

Adamis Pharmaceuticals

Adamis has landed top on our weekly NASDAQ biotech stocks list with a share price increase of 45.31 percent, moving it to $ 4.50.

Likely what contributed to moving the company’s share price through investor excitement was Adamis announcing a distribution and commercialization agreement for Symjepi, the emergency treatment of allergic reactions (Type 1) including anaphylaxis. Sandoz, a division of the Novartis Group (NYSE:NVS), will obtain commercial rights to Symjepi in exchange for an upfront fee and potential performance-based milestones payments. The two companies will equally share net profits.

Aside from developing Symjepi, Adamis is also working on an opioid overdose treatment and two asthma/COPD treatments. These products largely coincide with the company’s focus of developing products in the large respiratory and allergy markets.

Juniper Pharmaceuticals

Second on the list is Juniper Pharmaceuticals, a  specialty pharmaceutical company which focuses on developing women’s health therapeutics. The company’s core businesses include Crinone (progesterone gel) franchise and Juniper Pharma Services, a high-end fee-for-service pharmaceutical development and clinical trials manufacturing for clients.

This company has been under investigation throughout the week after announcing it will be acquired by Catalent (NYSE:CTLT) for $ 11.50 per share in cash. One investigation by WeissLaw LLP are investigating whether Juniper’s board acted to maximize shareholder value prior to entering into the agreement, noting an analyst target price was as high as $ 20.00.

Over the past trading week Juniper’s share price increased to $ 11.42, representing an increase of 28.65 percent.

Anavex Life Sciences

Middle of our weekly top NASDAQ biotech stocks list is Anavex, which had a 27.68 percent increase to $ 3.54.

This biopharmaceutical company has a proprietary Sigmaceptor discovery platform used to advance its drug candidates which demonstrate high, non-exclusive affinity for sigma receptors. The company is focused on finding cancer and neurological disease treatments.

On Tuesday (July 3), Anavex received approval by the Australian Human Research Ethics Committee to initiate its Phase 2b/3 double-blind of ANAVEX2-73 for the treatment of early Alzheimer’s disease.

Arbutus BioPharma

Fourth on the list this week and second on the list the previous week is Arbutus. This company is developing and commercializing a cure for chronic Hepatitis B infection (HBV). Multiple drug candidates are in development to improve on the current standard of care and create a curated combination regime for patients with HBV, or even a cure.

Over the past trading week Arbutus Biopharma’s share price increased to $ 8.98, which is a 23.81 percent shift.

Similar to the previous weeks, the company didn’t have any news over last week’s trading, but the share price may reflect investors’ interest in the company presenting at the first annual Roivant Pipeline Day, which was announced June 18.

Soleno Therapeutics

With a 20 percent increase to a stock price of $ 2.86, Soleno is last on our top weekly NASDAQ biotech stocks list.

Similar to Arbutus, Soleno didn’t have any news in the past trading week. The company’s latest news came in early June, when it did a presentation at the BIO International Convention June 4 in Boston.

This company has a rare disease treatment focus, such as Prader Willi Syndrome. The company is currently conducting a Phase 3 clinical trail for patients with PWS with its lead candidate DCCR, a once-daily oral tablet. This is the company’s only drug candidate and clinical trial.

Don’t forget to follow us at @INN_LifeScience for real-time updates!

Data for 5 Top NASDAQ Biotech Stocks articles is retrieved each Friday at 10:00 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $ 50 million and lower than $ 500 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.

Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.

Biotech Stocks in 2018

 

Find out how the market will look this year

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