These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:
Pipeline and key clinical candidates for these companies:
Journey Medical says it is focused on identifying, acquiring, developing and strategically commercializing "innovative, differentiated dermatology products through its efficient sales and marketing model." The company currently markets eight branded and three generic products that help treat and heal common skin conditions.
NovaBay Pharmaceuticals develops and sells eyecare and skincare products. NovaBay's leading product, Avenova Antimicrobial Lid & Lash Solution, is often prescribed by eyecare professionals for blepharitis and dry-eye disease and is also available directly to eyecare consumers through online distribution channels such as Amazon.
Aptinyx is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of proprietary synthetic small molecules for the treatment of brain and nervous system disorders. Aptinyx has a platform for discovery of novel compounds and the company's proprietary chemistry platform "has generated and continues to yield a rich and diverse array of small-molecule NMDA receptor modulators with the potential to treat various neurologic disorders," the company has stated.
Krystal Biotech is a biotechnology company focused on developing and commercializing genetic medicines for patients with rare diseases. The company’s wide-ranging pipeline is based on its proprietary redosable HSV vector. In May 2023, Vyjuvek was approved by the FDA for the treatment of dystrophic epidermolysis bullosa. Vyjuvek is a non-invasive, topical, redosable gene therapy designed to treat DEB at the molecular level.
Acadia is advancing breakthroughs in neuroscience to elevate life. The company developed and commercialized the first and only approved therapies for hallucinations and delusions associated with Parkinson’s disease psychosis and for the treatment of Rett syndrome. Acadia's clinical-stage development efforts are focused on treating the negative symptoms of schizophrenia, Alzheimer’s disease psychosis and neuropsychiatric symptoms in central nervous system disorders.
Recent news on these stocks:
Krystal Biotech said it sees cash runway through the end of 2026. "We are extremely pleased to have the support of this strong investor group," said Krish S Krishnan, CEO of Krystal Biotech. "These additional funds, together with our existing cash, cash equivalents and investments, should allow us to fund the VYJUVEK launch, future operations, and the advancement of our growing pipeline through the end of 2026. It also allows us to retain the optionality of monetizing the Priority Review Voucher we received in connection with the FDA approval of VYJUVEK at a future date with favorable terms and without any dilution."
BofA raised the firm's price target on Acadia Pharmaceuticals to $26 from $23 and kept a Neutral rating on the shares after raising the value attributed to Daybue following the FDA approval of the drug for the treatment of Rett syndrome in March. The firm estimates 2023 sales for Daybue of $36.5M and peak sales of $567M by 2030.
Journey Medical announced completion of treatment in the Phase 1 clinical trial assessing the impact of DFD-29on the microbial flora of healthy adults. The clinical trial is also assessing the safety and tolerability of the treatment. DFD-29 is being developed for the treatment of papulopustular rosacea in collaboration with Dr. Reddy's Laboratories (RDY). Claude Maraoui, Co-Founder, President and Chief Executive Officer of Journey Medical, stated, "DFD-29 continues to make positive progress in the clinic, bringing us closer to potentially providing a new treatment option for the millions of patients suffering from rosacea. We expect to report topline results from the Phase 1 trial in the first half of 2023. In addition, we are pleased that the DFD-29 Phase 3 clinical trials have been fully enrolled as of January 2023. We anticipate topline data from the Phase 3 clinical trials in the first half of 2023, with a New Drug Application filing subsequently expected in the second half of 2023."
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.