As usual, biopharm stocks dominate the top of the small-cap stock gainers list today.
Share price: $11.15 | 24h change: 15.54% | 52-week change: 312.9% | Market cap: $412.6M
Vericel develops ‘autologous cell-based therapies’. In English, this means that the company extracts patient tissue, processes it, and returns it back to the body, where it will begin to heal certain damage. The company has two main products to this end; MACI, developed for the repair of knee injuries in adults, and Epicel, for use in skin grafts for patients with deep thermal burns. Most recently, the company announced the results of a phase 3 study into their MACI cell repair technology. According to the report, the technology demonstrated ‘significantly greater improvements’ in knee injury recovery over the two-year study, and continued to maintain such improvements in a three-year follow-up study. Vericel has seen its stock value go absolutely stellar from this time last year. What’s more, with the largest market cap on this list by far, it appears far more stable than the bio-firms which seem to come from nowhere with 200% growth and a $2 million market cap.
Proteostasis Therapeutics (NASDAQ:PTI)
Share price: $4.90 | 24h change: 10.11% | 52-week change: -31.2% | Market cap: $171.7M
Proteostasis has a pipeline of products focused on the treatment of neurodegenerative and orphan diseases. Primarily, their work aims toward to treatment of cystic fibrosis, an incurable and life-limiting disorder that affects around 70,000 people globally. Today’s share surge is on the heels of exciting news that Proteostasis’ combination treatment has received a ‘fast-track’ designation by the FDA. This means that the FDA is keen to accelerate the development of the treatment, which is good news for Proteostasis and its shareholders. The combination treatment consists of three different therapies – PTI-428, PTI-801 and PTI-808 – which are co-administered for the effective treatment of cystic fibrosis.
Tenax Therapeutics, Inc. (NASDAQ:TENX)
Share price: $8.65 | 24h change: 62.59% | 52-week change: -10.8% | Market cap: $12.2M
Tenax are topping the bio-gainers list today with a huge 62% spike, and for good reason. The company today announced the results of a meeting with the FDA to discuss phase 2 trial plans of their drug levosimendan, which is used to treat pulmonary hypertension (high blood pressure in the heart and lungs). The FDA addressed questions and provided guidance to Tenax for the trial, and agreed that the new clinical protocol can be submitted. As such, Tenax is preparing to begin the phase 2 trial in late June or July. Don’t be put off by the firm’s small market cap and relatively volatile share price; today is big news for the company, and the largest spike in value since June last year.
Featured image: Sunleaf Medical