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:
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.
Homology Medicines is a clinical-stage genetic medicines company focused on rare diseases. The company’s clinical programs include HMI-102, an investigational gene therapy for adults with phenylketonuria, or PKU; HMI-103, a gene editing candidate for PKU; and HMI-203, an investigational gene therapy for Hunter syndrome. Additional programs focus on metachromatic leukodystrophy, or MLD, paroxysmal nocturnal hemoglobinuria, or PNH, and other diseases.
Otonomy is a biopharmaceutical company focused on therapeutics for neurotology. The company says it "pioneered the application of drug delivery technology to the ear in order to develop products that achieve sustained drug exposure from a single local administration" and that its approach is "covered by a broad patent estate," with a current focus on hearing loss.
Tenax Therapeutics is focused on identifying, developing, and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical need. The company owns North American rights to develop and commercialize subcutaneous and oral formulations of levosimendan. Tenax is also developing a unique oral formulation of imatinib designed to minimize the gastric irritation observed in a previous Phase 3 trial of the marketed version of the therapy while assuring that the dose achieved is at the level proven to be effective. Tenax expects to conduct a single pivotal trial pursuant to the 505(b)(2) pathway for regulatory approval.
GlycoMimetics is a late clinical-stage biotechnology company developing glycobiology-based therapies for cancers, including AML, and for inflammatory diseases with high unmet needs. "The company’s science is based on an understanding of the role that carbohydrates play in cell recognition and its specialized chemistry platform to discover small molecule drugs, known as glycomimetics, which alter carbohydrate-mediated recognition in diverse disease states, including cancer and inflammation," GlycoMimetics states.
Recent news on these stocks:
November 16
Chardan analyst Matthew Barcus lowered the firm's price target on Homology Medicines to $8 from $10 and keeps a Buy rating on the shares. Barcus sees the potential of the company's AAVHSC vector portfolio and dual gene therapy/gene editing platform to treat severe genetic diseases across a range of tissues. The analyst added that he sees positive developments from the company's research pipeline as potential further upside, noting that the new price target is based on probability-adjusted modeling of key franchises.
November 14
NovaBay Pharmaceuticals announced that, following approval from the company's stockholders obtained at the company's November 10, 2022 special stockholders' meeting, the company's Board of Directors has approved the filing of an amendment to the company's Amended and Restated Certificate of Incorporation, as amended, to effect a 1-for-35 reverse stock split of all outstanding shares of common stock of the company. The company anticipates that the 1-for-35 reverse stock split will be effective on Tuesday, November 15, 2022, and the company's common stock will begin trading on a split-adjusted basis on Wednesday, November 16, 2022.
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 15-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.
NovaBay
-0.03 (-1.40%)
Homology Medicines
-0.08 (-3.98%)
Otonomy
+
Tenax Therapeutics
+
GlycoMimetics
+0.12 (+5.83%)