SUMMIT (dpa-AFX) - The following are the healthcare stocks that hit a new 52-week high on Tuesday.
1. BioNTech SE (BNTX) closed at a new high of $20.64 on Tuesday. The stock made its debut on the Nasdaq on October 10, 2019, at an opening price of $16.50.
BioNTech SE is developing a portfolio of immunotherapies that utilize mRNA formats for the treatment of cancer.
BioNTech has a development pipeline of over 20 product candidates, of which eight have entered into nine ongoing clinical trials.
- BNT111 in a Phase 1 trial in advanced melanoma.
- BNT113 in a Phase 1 trial in HPV+ head and neck cancers.
- BNT114 in a Phase 1 trial in triple-negative breast cancer.
- RO7198457 (BNT122), which is being developed in collaboration with Genentech, is in Phase 1 trial in multiple solid tumors and in phase 2 trial in patients with previously untreated advanced melanoma.
- SAR441000 (BNT131), which is being developed in collaboration with Sanofi, is in phase 1 trial for solid tumors.
- GEN1046 (BNT311) and GEN1042 (BNT312), which are being developed in collaboration with Genmab, in phase 1 trial for multiple solid tumors.
- MVT-5873 (BNT321) is in Phase 1 clinical development in pancreatic cancer.
2. InMode Ltd. (INMD) jumped to a new high of $30.82 in intraday trading on Tuesday, before closing at $29.82. The stock made its debut on the NASDAQ on August 8, 2019, at an opening price of $13.63.
InMode develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency (RF) assisted lipolysis and deep subdermal fractional radiofrequency technologies.
The company, which was formerly known as Invasix Ltd. changed its name to InMode Ltd. in November 2017.
Early this month, the company established two new sales and marketing subsidiaries in India and Australia.
InMode reported revenues of $38.8 million in the second quarter ended June 30, a 55% increase year-over-year.
Third-quarter results are expected to be reported on November 05, 2019. Analysts expect the company to report revenue of $35.5 million in the third quarter.
3. Bristol-Myers Squibb Company (BMY) recorded a new high of $57.37 in intraday trading on Tuesday, before closing at $54.42. The stock has risen nearly 5% year-to-date.
The company develops, licenses, manufactures and markets drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases.
Bristol-Myers has a strong portfolio of marketed drugs and a robust pipeline.
Yesterday, the company announced that its CheckMate -9LA, a pivotal phase III trial evaluating Opdivo (nivolumab), the company's marked drug, plus low-dose Yervoy (ipilimumab), another marketed drug by the company, given concomitantly with two cycles of chemotherapy for the first-line treatment of advanced non-small cell lung cancer (NSCLC), met its primary endpoint.
A phase III trial dubbed ATTRACTION-3 evaluating Opdivo (nivolumab) versus chemotherapy (docetaxel or paclitaxel) for the treatment of patients with unresectable advanced or recurrent esophageal squamous cell carcinoma (ESCC) met its primary endpoint of overall survival (OS), Bristol-Myers and Ono Pharmaceutical said in September. Ono Pharmaceutical is the company's partner in the trial.
The company reported revenue of $6.3 billion in the second quarter ended June 30, 2019, an increase of 10% compared to the same period a year ago.
Third-quarter results are expected to be reported on October 31, 2019.
4. Molecular Templates, Inc. (MTEM) jumped to a new high of $9.16 in intraday trading on Tuesday, before closing at $8.86. The stock is up 119% year-to-date.
The company focuses on the development of biologic therapeutics for the treatment of cancer and other diseases.
Molecular Templates' lead drug candidate MT-3724 for the treatment of Diffuse Large B-cell Lymphoma (DLBCL) showed promising activity in heavily pretreated patients in a Phase I/Ib monotherapy study.
A Phase II monotherapy study of MT-3724 in relapsed/refractory DLBCL is underway. Update on this study is expected in 4Q19.
Two Phase II studies of MT-3724; one in combination chemotherapy (gemcitabine and oxaliplatin) and the other in combination with Revlimid, to treat DLBCL is also underway. The company expects to report an update on both MT-3724 combination studies in 4Q19.
5. Celgene Corporation (CELG) hit a new high of $107.41 in intraday trading on Tuesday, before closing at $104.70. The stock has gained nearly 63% year-to-date.
In June, Celgene announced that the FDA accepted the New Drug Application (NDA) for Ozanimod, proposed for the treatment of patients with relapsing forms of multiple sclerosis (RMS). A decision by the FDA is expected on March 25, 2020.
Ozanimod is also under review by the European Medicines Agency, with a decision expected in the first half of 2020.
A phase 3 Study of CC-486 as maintenance therapy in patients with newly diagnosed acute myeloid leukemia, dubbed QUAZAR AML-001 has met its primary and key secondary endpoints, the company announced in September.
Revenue in the second quarter ended June 30, 2019, was $4.4 billion, a 15 percent increase compared to $3.81 billion in the second quarter of 2018.
The company now expects full-year 2019 revenue in the range of $17.2 billion - $17.4 billion.
Celgene expects to report Q3 earnings on October 31, 2019.
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