Latest Reports on Biotech Movers MannKind and Celldex Therapeutics

NEW YORK, NY / ACCESSWIRE / December 20, 2016 / The Biotech Industry has been home to some of the largest gainers in the market in recent years. The iShares NASDAQ Biotechnology Index ETF (IBB) and the SPDR S&P Biotech ETF (XBI) over the past 5 years have posted gains of 168.5 percent and 191.5 percent, respectively. In comparison, the Dow Jones Industrial Average and the S&P 500 Index have posted gains of just 67.5 percent and 85.5 percent, respectively.

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It has been a tough year for the Biotech Industry as a whole in 2016. The iShares NASDAQ Biotechnology Index ETF is down 20.6 percent year-to-date, while the SPDR S&P Biotech ETF has fallen roughly 13.1 percent. Biotech stocks received an immediate boost following President Trump’s election as his opponent Hillary Clinton had publicly spoke out against the industry throughout her campaign. Although, biotech stocks have experienced a pullback recently as Donald Trump has stated he was going to bring down drug prices, a Donald Trump led White House is still considered more favorable than a Hillary Clinton led white house by the industry. The President has also previously stated that he aims to speed up the drug approval process.

RDInvesting Takes
a Closer Look at Some Biotech Companies as We Enter 2017

MannKind Corporation (NASDAQ: MNKD)

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MannKind Research Report at www.rdinvesting.com/company/MNKD.

MannKind’s shares soared 27.66 percent to close at $0.785 a share Monday. The stock traded between $0.60 and $0.85 on volume of 18.28 million shares traded. MannKind is a biopharmaceutical company that focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. On Novemebr 9th, the company and Sanofi entered into an agreement with terms for termination of their collaboration. As of September 30, 2016, MannKind recorded $2.0 million in deferred revenue. The company has recognized $161.8 million in revenue from their collaboration with Sanofi for nine months ended in September, this amount also relates to activities from prior periods previously deferred. Cash and cash equivalents at September 30, 2016 were $35.5 million, compared to $59.1 million at December 31, 2015. Shares of MannKind have fallen approximately 45.9 percent year-to-date, but have rallied roughly 18.3 26% percent in the past month

Celldex Therapeutics, Inc. (NASDAQ: CLDX)

Get Your Up-To-Date Celldex Therapeutics Research Report
at www.rdinvesting.com/company/CLDX.

Celldex Therapeutics’ shares gained 1.83 percent to close at $3.90 a share Monday. The stock traded between $3.82 and $4.07 on volume of 2.26 million shares traded. Celldex is developing targeted therapeutics to address devastating diseases for which available treatments are inadequate, the company has a pipeline of proprietary portfolio of antibodies and immunomodulators used alone and in strategic combinations to create novel, disease-specific therapies that induce, enhance or suppress the body’s immune response. On November 29th, Celldex completed its acquisition of Kolltan Pharmaceuticals, Inc., a private company focused on the discovery and development of novel, antibody-based drugs targeting receptor tyrosine kinases (RTKs). Shares of Celldex Therapeutics have fallen approximately 75.1 percent year-to-date and are down roughly 12.0 percent in the past month.

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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.

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