#CLSN #ECYT #MNKD #FLXN #CELG the biotech movers of the week. October 2-6, 2017.
Biotechnology stocks is considered as most volatile sector in the market. Simply because they are heavily reliant on its drug clinical research data and they are still in clinical stage, this is only applicable on small caps biotechnology stock, they can easily move +/- 50% -100% on clinical data results or updates. While the large cap pharmas are less volatile because they generate real revenue and they have FDA approved drugs and have solid balance sheet. Below is the last week recap of biotech mover.
C L S N Celsion Corp. +123.33% last week, rallies on announcement of final clinical and translational research data from its Ovation Study, a Phase Ib dose escalating clinical trial combining GEN-1 http://investor.celsion.com/releases.cfm?view=all
E C Y T Endocyte Inc. + 307.8% last week, on completion of an exclusive worldwide license of PSMA-617 from ABX GmbH http://investor.endocyte.com/releasedetail.cfm?ReleaseID=1042317
M N K D Mannkind Corp. + 131.80% last week, on latest Afrezza update, the U.S. FDA has approved an update to the Afrezza prescribing information to include new clinical data that was presented at the American Diabetes Association's 76th Scientific Sessions in June 2016 http://files.shareholder.com/downloads/AMDA-22AIJ9/5348265518x0x958389/E0DD4DA8-7FA6-442F-925B-B817C04C22E8/MNKD_News_2017_10_2_General_Releases.pdf
F L X N Flexion Therapeutics +23.78% last week, as U.S. FDA approved its Zilretta drug. http://ir.flexiontherapeutics.com/releases.cfm?ReleasesType=Press+Releases&_ga=2.230399516.1257422715.1507429715-68757688.1507429715
C E L G Celgene Corp. -4.53% last week, on Morgan Stanley’s downgrade to Underweight from Equalweight with a Price Target of $120. While many may wonder why Celgene has been mentioned here in biotech shakers, on just 4.5% movement. It is simply because CELG is a heavy weight or have huge impact on IBB index. The +/- 3% move on large cap pharma price movement is considered as significant price change.