Biotech Beat: Synergy Pharmaceuticals (SGYP), MannKind Corporation (MNKD), Gilead Sciences, Inc. (GILD)
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) had an incredible day in the market yesterday after announcing the results of it’s second of two phase 3 studies looking into the efficacy and tollerability of an experimental drug known as plecanatide. The data from the study showed that plecanatide showed statistically significant improvements in the treatment of CIC over a placebo. As a result, the company stated that they will be looking toward a New Drug Application with the United States Food and Drug Administration as the next step in the cycle. The gains from the news are continuing today. Overall, I’m expecting to see positive news moving forward. To find out more about what we can expect to see in the short and long term outlook from SGYP, click here.
MannKind Corporation (NASDAQ:MNKD) has had a rough time in the market recently as the result of poor Afrezza sales combined with their decision with regard to how to pay off a debt that comes to maturity soon. However, the company made an announcement today that leads me to believe that Afrezza sales are likely to pick up relatively soon. Early this morning, MannKind announced that it had tripled its Afrezza production capacity by adding two new filling lines in their warehouse. While I’m not expecting to see any solid gains in the short term outlooks, I am expecting to see incredibly positive news in the long run. To learn more, click here.
Gilead Sciences, Inc.
Gilead Sciences, Inc. (NASDAQ:GILD) is having another great day in the market today following better than expected earnings. However, there’s far more to the story. In my opinion, Gilead Sciences is a strong buy no matter how you look at it. The stock is trading at an incredibly low P/E ratio, even after proving that it will likely maintain control over the HCV market for quite some time and that ABBV hasn’t had an affect on their earnings. I wrote a detailed post outlining why Gilead Sciences is a strong investment choice earlier today. To read it, click here.
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