Controversy builds over potent new opioid medication as U.S. senator calls on FDA to reject the drug

Controversy builds over potent new opioid medication as U.S. senator calls on FDA to reject the drug
A new, potent opioid medication intended for immediate pain relief has become the center of a maelstrom of controversy as it nears a Food and Drug Administration approval decision early next month. The latest salvo came from Sen. Edward Markey (D-Mass.) on Thursday, calling on the FDA to reject the medication as it is “a thousand times more likely to... Read More

Merrimack Pharmaceuticals’ stock plummets toward record low after cancer drug trial terminated

Merrimack Pharmaceuticals’ stock plummets toward record low after cancer drug trial terminated
Shares of Merrimack Pharmaceuticals Inc. MACK, +2.18% plummeted 35% toward a record low in premarket trade Friday, after the biopharmaceutical company said it terminated a phase 2 trial of its non-small cell lung cancer treatment after it failed to improve progression free survival. “Since futility was observed, the decision was made to terminate the study,” the company said in a... Read More

Proteostasis Therapeutics’ rockets to 4-fold gain on massive volume after positive trial results

Proteostasis Therapeutics’ rockets to 4-fold gain on massive volume after positive trial results
Shares of Proteostasis Therapeutics Inc. PTI, +313.20% blasted off to a four-fold gain (up 301%) on extremely heavy volume after the biopharmaceutical company announced positive results from a phase 1 trial of its cystic fibrosis treatment. Volume spiked to over 44 million shares, compared with the full-day average of 152,000 shares. The company said changes in sweat chloride concentration and... Read More

Profit Taking May Lead To Pullback On Wall Street

Profit Taking May Lead To Pullback On Wall Street
The major U.S. index futures are pointing to a lower opening on Wednesday, with stocks likely to give back ground after moving sharply higher in the previous session. Profit taking may contribute to initial weakness on Wall Street, as traders cash in on yesterday’s gains amid lingering uncertainty about the near-term outlook for the markets. A negative reaction to the... Read More

Abbott drops 2.3% premarket after in-line Q3 profit, narrowed 2018 outlook

Abbott drops 2.3% premarket after in-line Q3 profit, narrowed 2018 outlook
Abbott Laboratories ABT, +3.28% stock dropped 2.3% in Wednesday premarket trade after the company reported third-quarter profit that was in-line with the consensus but narrowed its 2018 profit outlook. Earnings for the latest quarter declined to $563 million, or 32 cents per share, from $603 million, or 34 cents per share, in the year-earlier period. Adjusted earnings-per-share were 75 cents,... Read More

CERS Boosts Revenue Outlook, KOOL Hands Out Pink Slips, EIGR’S UTLRA Study Fails

CERS Boosts Revenue Outlook, KOOL Hands Out Pink Slips, EIGR’S UTLRA Study Fails
Today’s Daily Dose brings you news about Celcuity’s clinical trial agreement with Puma; Cerus’ upbeat revenue outlook; workforce reduction at Cesca; positive results from pilot study of Cannabics capsules; and Eiger’s disappointing results from ULTRA study. Read on… Celcuity Inc. (CELC) has entered into a clinical trial agreement with Puma Biotechnology Inc. (PBYI) and West Cancer Center to conduct a... Read More

CRMD On Watch, SPRO On Track To Initiate Phase 3 Trial, BMRA’s Sales Drop

CRMD On Watch, SPRO On Track To Initiate Phase 3 Trial, BMRA’s Sales Drop
The following are some of the pharma/biotech stocks that posted the biggest percentage decline today. 1. CorMedix Inc. (CRMD) Lost 16.51% to close Tuesday’s (Oct.16) trading at $1.82. News: No news Clinical Trial & Near-term Catalyst: The lead product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous... Read More

KRYS Up 53% In 2 Days, SLS To Report Phase 2 Data Next Week, OMED On Watch

KRYS Up 53% In 2 Days, SLS To Report Phase 2 Data Next Week, OMED On Watch
The following are some of today’s top gainers in the pharma/biotech sector. 1. Krystal Biotech Inc. (KRYS) Gained 23.65% to close Tuesday’s (Oct.16) trading at $24.73. This is the second straight day of double-digit gain for the stock. On October 15, 2018, the Company announced positive interim results from its ongoing placebo-controlled phase I/II clinical trial of KB103 to treat... Read More

Major Averages Climb Firmly Into Positive Territory – U.S. Commentary

Major Averages Climb Firmly Into Positive Territory – U.S. Commentary
Stocks have moved significantly higher in morning trading on Tuesday after ending the previous session mostly lower. The major averages have climbed firmly into positive territory, more than offsetting yesterday’s losses. Currently, the major averages are holding on to strong gains. The Dow is up 223.70 points or 0.9 percent at 25,474.25, the Nasdaq is up 74.48 points or 1... Read More