Biotech Industry Off to a Strong Start in 2017 Latest Reports on Sarepta Therapeutics and Momenta Pharmaceuticals

NEW YORK, NY / ACCESSWIRE / January 9, 2017 / The Biotech Industry has had a strong start to the year after a rocky 2016. The iShares NASDAQ Biotechnology Index ETF (IBB) and the SPDR S&P Biotech ETF (XBI) year-to-date have posted gains of 5.6 percent and 7.0 percent, respectively. Investor focus for the industry now shifts to the 35th Annual J.P. Morgan Healthcare Conference, the largest health care investing event of the year.

“Biotech has historically outperformed the broader market during The J.P. Morgan Healthcare Conference,” biotech analysts at J.P. Morgan wrote in a note to clients. J.P. Morgan’s annual health-care conference is held on January 9-13 in San Francisco.

Research conducted by the firm shows that the NYSE Arca Biotechnology index (BTK), which consists of 30 biotech companies, has exceeded the performance of the S&P 500 Index by almost 3 percent during J.P. Morgan’s annual health conference. “We observed that the BTK has outperformed the S&P 500 during JPM week ~81 percent of the time (all but three years),” the report said.

RDInvesting takes
a closer look at some popular biotech companies

Sarepta Therapeutics Inc. (NASDAQ: SRPT)

Get Your Up-To-Date Sarepta Therapeutics’
Research Report Here

Sarepta Therapeutics’ shares gained 1.90 percent to close at $30.08 a share Friday. The stock traded between $29.25 and $31.16 on volume of 3.24 million shares traded. On December 19th, the company announced that the European Medicines Agency (EMA) validated the previously submitted Marketing Authorization application (MAA) for eteplirsen to treat Duchenne muscular dystrophy amenable to exon 51 skipping. Validation of the MAA confirms that the submission is accepted and starts the formal review process by the EMA’s Committee for Human Medicinal Products (CHMP). The standard review period is 210 days (plus additional time for applicant to respond to questions from the agency).

“Around the world, there are many patients living with DMD who do not have access to a medicine that treats the underlying cause of the disease,” said Edward Kaye, Sarepta’s CEO. “The validation of the MAA is the next step toward our goal of providing potential therapies to more patients with Duchenne in Europe.”

Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA)

Get Your Up-To-Date Momenta
Pharmaceuticals’ Research Report Here

Momenta Pharmaceuticals’ shares gained 5.81 percent to close at $16.40 a share Thursday. The stock traded between $16.15 and $17.25 on volume of 958,626 million shares traded. On January 5th, the company announced that it had entered into an exclusive research collaboration and worldwide license agreement to develop and commercialize Fc multimer proteins, including Momenta’s M230, a selective immunomodulator of Fc receptors, which is expected to enter the clinic in 2017. Momenta will receive a $50 million upfront license fee from CSL and is eligible to receive future milestone and royalty payments for M230.

“This week we announced a significant research collaboration and license agreement with CSL for M230 and potential future Fc multimer programs. We also announced an agreement with Shire for the early return of full rights to the M923 program,” said Craig A. Wheeler, President and CEO of Momenta Pharmaceuticals in its year-end corporate update news release. “We start 2017 with a strong balance sheet, a validation of our approach to Fc biology, a fully-owned biosimilar HUMIRA candidate that remains on track for regulatory submission in mid-2017, and the potential for the approval and launch by Sandoz of Glatopa® 40 mg product in the first quarter of 2017.”

Research Driven
Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 452346

Go Top