TipRanks

Notifications

Biotech Alert: Searches spiking for these stocks today

Stay ahead of biotech stocks seeing a surge in interest from retail and financial professional investors with this exclusive recap from The Fly

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:

  • Arcturus Therapeutics (ARCT), 280% surge in interest
  • Tonix Pharma (TNXP), 270% surge in interest
  • Phathom Pharmaceuticals (PHAT), 259% surge in interest
  • Omeros Corp (OMER), 252% surge in interest
  • Xeris (XERS), 245% surge in interest

Pipeline and key clinical candidates for these companies:

Arcturus Therapeutics is a late-stage clinical mRNA medicines and vaccines company whose pipeline of RNA therapeutic and vaccine candidates includes mRNA vaccine programs for COVID-19 and Influenza, and other programs to potentially treat ornithine transcarbamylase, or OTC, deficiency, and cystic fibrosis, or CF. The company’s partnered programs include glycogen storage disease type III and hepatitis B virus.

Tonix is focused on central nervous system, rare disease, immunology and infectious disease product candidates. Tonix’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022 and interim data expected in the second quarter of 2023. TNX-102 SL is also being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix initiated a Phase 2 study in Long COVID in the third quarter of 2022 and expects interim data in the second quarter of 2023. TNX-1300 is a biologic designed to treat cocaine intoxication and has been granted Breakthrough Therapy designation by the FDA.

Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a first-in-class potassium-competitive acid blocker.

Omeros is committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market and orphan indications targeting immunologic disorders, including complement-mediated diseases, cancers, and addictive and compulsive disorders. Omeros’ lead MASP-2 inhibitor narsoplimab targets the lectin pathway of complement and is the subject of a biologics license application pending before FDA for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy. Narsoplimab is also in multiple late-stage clinical development programs focused on other complement-mediated disorders, including IgA nephropathy, COVID-19, and atypical hemolytic uremic syndrome.

Xeris is committed to developing and commercializing "differentiated and innovative products across a range of therapies," the company states. Xeris has three commercially available products: Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; Keveyis, a proven therapy for primary periodic paralysis; and Recorlev for the treatment of endogenous Cushing’s syndrome. Xeris has a pipeline of development and partnered programs using its formulation sciences, XeriSol and XeriJect, the company adds.

Recent news on these stocks:

May 11

H.C. Wainwright upgraded Arcturus Therapeutics to Buy from Neutral with a price target of $51, up from $19. The company announced that data from an interim analysis of an ongoing Phase 3 booster study conducted in Japan are expected in Q2, which are expected to support ARCT-154’s regulatory approval as a COVID-19 vaccine booster in Japan, the analyst told investors in a research note. The firm cites ARCT-154’s potential approval as a COVID-19 vaccine course as well as a booster in Japan in 2023, along with a bivalent vaccine in development for the U.S. and European markets, for the upgrade. Arcturus is poised to transform into a commercial-stage company, said H.C. Wainwright.

Evercore ISI upgraded Phathom Pharmaceuticals to Outperform from In Line, arguing that the company’s recent updates suggest that a path to FDA approval by year-end 2023 "is looking clearer." Launch ramps for drugs with bridge programs suggest a "high likelihood" of Phantom putting up a solid ramp in scripts upon approval, added the analyst.

May 9

Tonix Pharmaceuticals announced it would effect a 1-for-6.25 reverse stock split of its outstanding common stock. This will be effective for trading purposes as of the commencement of trading on May 10, 2023. The reverse stock split was previously approved by the board of Tonix in accordance with Nevada law, under which no stockholder approval is required, and is intended to increase the per share trading price of Tonix’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The NASDAQ Capital Market. Tonix’s common stock will continue to trade on the NASDAQ Capital Market under the symbol "TNXP". As a result of the reverse stock split, every six and one-quarter pre-split shares of common stock outstanding will become one share of common stock. The reverse stock split will also proportionately reduce the number of shares of authorized common stock from 1 billion to 160 million shares. The reverse split will also apply to common stock issuable upon the exercise of Tonix’s outstanding warrants and stock options.

Omeros reported Q1 EPS of (54c) against a consensus of (56c). "We are pleased with our progress during the first quarter as our team continues to deliver on important milestones," said CEO Gregory Demopulos, M.D. "For our MASP-2 inhibitor narsoplimab, we are meeting with FDA this month to discuss our proposed analysis plan and confirm the specifics to be included in a BLA resubmission for TA-TMA, and our Phase 3 IgA nephropathy trial remains on track for data read-out next quarter. Our long-acting MASP-2 inhibitor is set to begin enrolling its multiple-ascending-dose clinical trial this summer in the U.S. Enrollment is marching ahead in our OMS906 clinical program. The results to date in treatment-naive PNH patients are impressive, making clear that our MASP-3 inhibitor OMS906 blocks alternative pathway activation and should be effective across AP-related diseases while potentially offering significant safety, efficacy and compliance advantages over other AP-targeting drugs. Now collaborating with and having received a $6.69 million award from NIDA, we are moving forward to assess our PDE7 inhibitor OMS527 in patients with cocaine use disorder. Our immuno-oncology franchise is also rapidly progressing across both our cellular and biologic platforms. Helping to fund the ongoing achievements of these and our other programs is the non-dilutive $200 million milestone payment received in February, forecast to extend our cash runway into 2025. This year has started well for Omeros, and we expect that momentum to continue."

Xeris Biopharma reported Q1 EPS of (12c) against a consensus of (17c), and reported Q1 revenue $33.2M against a consensus of $30.76M. "We had a very strong start to 2023 with record total revenue, strong underlying patient demand in all three commercial products, and the addition of another XeriJect collaboration," said CEO Paul Edick. "With continued steady and strong execution, we believe that we can achieve our 2023 revenue and year-end cash guidance and achieve cash flow breakeven in the fourth quarter this year."

Hear more from InvestingChannel by signing up for The Spill.


About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.

Keywords: biotech, biotech sector, biotech alert, investingchannel, XBI, SPDR S&P Biotech ETF

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on ARCT: