Two biotechs – Paratek and Intra-Cellular – were the stocks to have on Wednesday morning.
Paratek Pharmaceuticals Inc (NASDAQ:PRTK), up 32% at US$25.075
The tetracycline chemistry specialist surged as it revealed it would participate in five upcoming investor conferences.
Intra-Cellular Therapies Inc (NASDAQ:ITCI), up 32% at US$14.82.
The shares were wanted after the biotech announced a positive regulatory update on its schizophrenia program.
The US Food and Drug Administration (FDA) had been concerned that its candidate, lumateperone, had shown worrying signs of toxicity when used in tests on animals, but has been convinced that humans are different to other animals.
Precipio Inc (NASDAQ:PRPO), down 47% at US$2.35.
The biotech’s shares slumped as it announced plans to raise US$6mln through an underwritten stock offering. The units being offered include convertible preferred stock that can be converted into Precipio common stock at US$2.50 a pop.
23 Aug 2017