NEW YORK, July 20, 2016 /PRNewswire/ --
The Biotech arena continues to grapple with research and
development costs, drug approvals, and high medicine prices.
Additionally, the upcoming U.S. elections and its outcome might
have a huge impact on the entire industry. This morning,
Stock-Callers.com takes a look at four stocks in this space for
further evaluation: Galena Biopharma Inc. (NASDAQ: GALE), Eleven
Biotherapeutics Inc. (NASDAQ: EBIO), Relypsa Inc. (NASDAQ: RLYP),
and Amgen Inc. (NASDAQ: AMGN). Sign up today and access our notes
for free at: http://stock-callers.com/registration
Galena Biopharma
San Ramon, California
Galena-based biopharmaceutical company, Biopharma Inc.'s shares
dropped 5.36%, closing Tuesday's trading session at $0.38. The stock recorded a trading volume of
4.25 million shares. The Company's shares are trading 71.27% below
their 200-day moving average. Additionally, shares of Galena
Biopharma, which focuses on developing and commercializing oncology
therapeutics that address major unmet medical needs, have a
Relative Strength Index (RSI) of 25.40.
On July 11th, 2016,
research firm Maxim Group reiterated its 'Buy' rating with a
decrease of the target price to $2 a
share from $4 a share for the
Company's stock.
On July 11th, 2016,
Galena Biopharma announced the closing of its previously announced
sale to certain institutional investors of 28,000,000 shares of
common stock at a purchase price per share of $0.45 in a registered direct offering, and
warrants to purchase up to 14,000,000 shares of common stock with
an exercise price of $0.65 per share
in a concurrent private placement. The net proceeds are expected to
be approximately $11.7 million, which
the company intends to use to fund its clinical trials of its
product candidates, to augment its working capital, and for general
corporate purposes. Free notes on GALE are available at:
http://stock-callers.com/registration/?symbol=GALE
Eleven Biotherapeutics
On Tuesday, Cambridge,
Massachusetts-based Eleven Biotherapeutics Inc.'s stock
recorded a trading volume of 1.16 million shares and ended the day
2.77% lower at $2.46. The Company's
shares have advanced 5.58% in the last month and 246.48% over the
previous three months. The stock is trading above its 50-day and
200-day moving averages by 38.41% and 49.12%, respectively.
Furthermore, shares of Eleven Biotherapeutics, which engages in the
discovery and development of protein therapeutics to treat eye
diseases primarily in the United
States, have an RSI of 59.52.
On July 08th, 2016,
Eleven Biotherapeutics announced that its Investigational New Drug
application for EBI-031, a humanized monoclonal antibody that
potently binds interleukin-6 and inhibits all known forms of IL-6
cytokine signaling, for treatment of ocular diseases, has become
effective. As a result of the achievement of this milestone, Eleven
Biotherapeutic is entitled to receive a $22.5 million payment from F. Hoffmann-La Roche
Ltd. and Hoffmann-La Roche Inc. pursuant to the terms of its
license agreement with Roche signed on June
13th, 2016. The complimentary note on EBIO can be
accessed at: http://stock-callers.com/registration/?symbol=EBIO
Relypsa
Redwood City, California
headquartered Relypsa Inc.'s stock finished the day 2.02% lower at
$19.84 and with a total volume of
1.38 million shares traded. The Company's shares have advanced
10.84% in the last one month and 12.92% in the previous three
months. The stock is trading above its 50-day and 200-day moving
averages by 12.09% and 5.62%, respectively. Additionally, shares of
Relypsa have an RSI of 58.42.
On July 18th, 2016,
Relypsa, announced that the compensation committee of the company's
board of directors has granted 2 new employees options to purchase
an aggregate of 5,700 shares of the company's common stock with a
per share exercise price of $20.67,
the closing trading price on the grant date, and 2,850 restricted
stock units. Visit us today and access our complete notes on RLYP
at: http://stock-callers.com/registration/?symbol=RLYP
Amgen
Shares in California
headquartered biotechnology company, Amgen Inc., ended yesterday's
session 0.27% lower at $162.49 and
with a total volume of 2.25 million shares traded. The stock has
advanced 8.60% in the last one month, 0.90% in the previous three
months, and 1.46% since the start of this year. The Company's
shares are trading 5.18% above their 50-day moving average and
6.37% above their 200-day moving average. Moreover, shares of
Amgen, which engages in discovering, developing, manufacturing, and
delivering human therapeutics worldwide, have an RSI of 66.30.
On June 29th, 2016,
research firm Bernstein initiated a 'Market Perform' rating for the
Company's stock.
On July 3rd, 2016,
Amgen announced that the European Commission has approved a
variation to the marketing authorization for Kyprolis®
(carfilzomib) to include use in combination with dexamethasone
alone for adult patients with multiple myeloma who have received at
least one prior therapy. The EC approved the extended indication
for Kyprolis based on data from the Phase 3 head-to-head ENDEAVOR
trials. The approval by the EC follows the U.S. Food and Drug
Administration's approval of a supplemental New Drug Application
based on the ENDEAVOR results in January
2016. Get free access to your notes on AMGN at:
http://stock-callers.com/registration/?symbol=AMGN
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