Pharma News Watchlist:
We’ve got a trio of pharma plays to add to our watchlist on the heels of fresh news releases for each of them this morning. Each stock is gapping up significantly in the premarket, and we’ll be waiting in the wings once the session commences to see if we can use the resulting activity to our advantage.
Akebia Therapeutics, Inc. AKBA – Per the newly announced agreement out today, AKBA has entered into a Collaboration and License Agreement to carry forward with the development of one of its treatments. The deal comes with an immediate payment of $125M, a cash infusion that represents roughly 40% of the company’s total market cap as of yesterday.
ACADIA Pharmaceuticals, Inc. ACAD – In the case of ACAD, we’ve gotten word of positive top-line results in a Phase II study it was conducting on the company’s Alzheimer’s drug. To leverage the present activity to our advantage here, we’re going to track the ACAD Weekly $28-31 Calls. (>>View PR)
Conatus Pharmaceuticals, Inc. CNAT
Here we have another collaboration and licensing deal, for CNAT’s liver drug, which is going to be bringing a $50M cash infusion Conatus’ way. That’s just the initial tranche, with more payments to follow as outlined in the relevant filing (>>View 8-K)
Globalstar, Inc. GSAT
We put GSAT on watch as a possible momentum play in yesterday morning’s premarket report, and while it didn’t break out in a major way, it did continue the trend of solid upward momentum that has been observed in recent sessions. From an early low of 1.25, the stock ran as high as 1.60; a 28% pop.
The performance, while not astronomical, was certainly enough to hold our interest in continuing to monitor GSAT’s activity moving forward.
Cellectar Biosciences, Inc. CLRB – Reminder
We just wanted to take a quick moment to reiterate a possible bottom-play selection we made last week in the form of CLRB. We’re still tracking this one, and think it has a good chance to produce a recovery, possibly following the holiday break. So we’re going to want to leave a space on our watch screens reserved for CLRB in the days and weeks ahead.
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