Did These 6 Biotech Stocks Catch Your Eye?

The following biotech stocks touched a new 52-week high yesterday.

AVEO Pharmaceuticals Inc. (AVEO) is just one step away from getting a U.S. patent for the use of its lead product Fotivda for the treatment of refractory advanced renal cell carcinoma. Shares touched a 52-week intraday high of $9.62 yesterday.

Yesterday, the company announced that the United States Patent and Trademark Office (“USPTO”) has allowed U.S. Patent Application No. 17/720,619, titled “Use of Tivozanib to Treat Subjects with Refractory Cancer”. This Application will potentially issue as a patent in 2022 and will provide patent protection in the United States for the claimed methods of use of FOTIVDA into 2039.

At the time of reporting second-quarter results in August, the company had said that it expects Fotivda U.S. net product revenue to range between $100.0 million and $110.0 million, reflecting a growth of 157% to 182% over 2021. The U.S. net product revenue of Fotivda was $38.90 million in 2021.

The company is scheduled to report Q3 financial results in the first week of November.

AVEO was trading around $7.20 when we alerted our subscribers to it on July 7, 2022 (Report titled “AVEO Expects Triple-digit Growth For Kidney Cancer Drug In FY22”).

AVEO has traded in a range of $3.06 to $9.62 in the last 1 year. Yesterday’s intraday high reflects a gain of nearly 34% in 3.5 months.

Amylyx Pharmaceuticals Inc. (AMLX), which received FDA approval for its lead asset RELYVRIO for the treatment of adults with amyotrophic lateral sclerosis, as recently as Sep.29, touched an all-time high of $35.73 in intraday trading yesterday.

Yesterday, the company announced the closing of its previously announced upsized underwritten public offering of 7.69 million shares of its common stock at a public offering price of $32.00 each. The gross proceeds from the offering were $246.3 million.

AMLX was trading around $28.68 when we alerted our subscribers to it on September 27, 2022. (Report titled “Amylyx Pharma Gearing Up For FDA Decision”).

The stock has traded in a range of $6.51 to $35.73 in the last 1 year. Yesterday’s intraday high reflects a gain of nearly 25% in less than a month.

Akero Therapeutics Inc. (AKRO) is a clinical-stage company developing treatments for serious metabolic diseases, including non-alcoholic steatohepatitis. Shares touched an all-time high of $40.49 in intraday trading yesterday.

The lead drug candidate is Efruxifermin being tested in two phase IIb trials – the HARMONY study in patients with pre-cirrhotic NASH (F2-F3 fibrosis), and the SYMMETRY study in patients with cirrhotic NASH (F4 fibrosis, compensated).

The company reported positive topline data from HARMONY study last month. Results from the SYMMETRY study are expected in the second half of 2023.

AKRO was trading around $11.86 when we alerted our subscribers to it on August 22, 2022, (Report titled “Akero – Of NASH And HARMONY…”).

The stock has traded in a range of $7.52 to $40.49 in the last 1 year. Yesterday’s intraday high reflects a gain of over 240% in nearly 2 months.

Capricor Therapeutics (CAPR) is scheduled to present one-year safety and efficacy results from its HOPE-2 open-label extension study with lead asset CAP-1002 for treating Duchenne muscular dystrophy at the World Muscle Society Congress today.

The one-year results from the HOPE-2 open label extension study in non-ambulant patients with later-stage Duchenne muscular dystrophy were reported by the company in June of this year. The study demonstrated statistically significant clinical benefits in skeletal muscle function in non-ambulant Duchenne muscular dystrophy patients.

CAP-1002 is currently under a pivotal phase III trial in late-stage Duchenne muscular dystrophy, dubbed HOPE-3.

We had alerted our subscribers to CAPR on September 14, 2021 when it was trading around $4.80 (Report titled “Will CAP-1002 Spell Hope For Capricor?”).

CAPR has traded in a range of $2.56 to $6.56 in the last 1 year. Yesterday’s intraday high of $6.56 reflects a gain of nearly 37% in over a year.

IVERIC bio Inc. (ISEE) is a biopharmaceutical company developing treatments for retinal diseases. The company’s lead drug candidate is Zimura, which has been successfully tested in two phase III trials in geographic atrophy, dubbed GATHER1 and GATHER2.

A new drug application for Zimura in geographic atrophy is expected to be filed with the FDA by the end of the first quarter of 2023.

We had alerted our subscribers to ISEE on August 10, 2022, when it was trading around $13.73. (Report titled “Iveric Bio – GATHERing Momentum?”).

ISEE has traded in a range of $8.85 to $21.77 in the last 1 year. Yesterday’s intraday high implies a gain of 58% in a little over 2 months.

VectivBio Holding AG (VECT) reported positive interim data from its ongoing STARS Nutrition study yesterday, sending its shares soaring to a 52-week high of $9.29 in intraday trading.

The STARS Nutrition study is a phase II trial evaluating the safety, pharmacokinetics and efficacy of the company’s drug candidate Apraglutide in adult patients with Short Bowel Syndrome with Intestinal Failure (SBS-IF) and Colon-in-Continuity.

As of the cutoff date of October 7, 2022, five of nine patients had completed at least six months of treatment.

According to the trial results, treatment with Apraglutide resulted in an average 50% reduction in Parenteral Support (PS) volume at six months.

The company expects to share top-line six-month data for all nine patients in the coming months.

We had alerted our subscribers to VectivBio on April 11, 2022 when it was trading around $4.98 (Report titled “Will The STARS Add Shine To VectivBio?”).

VECT has traded in a range of $2.74 to $9.29 in the last 1 year. Yesterday’s intraday high reflects a gain of 86% in 6 months.

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