CNA Finance

About the Author CNA Finance

CNA Finance is a leading finance and investing website that offers content from contributors around the world. Focusing heavily on stock market commentary, market analysis, and investing tips; it's a great place to find articles about all things finance! Joshua’s likes to discuss where assets will move in the market, what reports may be coming out and what to expect, economic conditions and more.

Biotech Beat: Synergy Pharmaceuticals Inc (SGYP), MannKind Corporation (MNKD), Ibio Inc (IBIO), Novavax, Inc. (NVAX)

Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is going through rough times in the market at the moment after missing expectations with regard to their most recent earnings report by $0.06. However, as I mentioned in a post earlier today, I’m not so sure that investors should be focusing on earnings. After all, in this phase of the company, everyone expects to see a loss while we wait for an NDA and FDA approval. The key here is the fact that plecanatide was proven through two Phase 3 studies to be effective and well-tolerated. As a matter of fact, the drug out performed the current market leader. With that said, we can expect to see both an NDA coming soon; which will prove to be a positive catalyst. So, keep your eyes on this one as well.

MannKind Corporation (NASDAQ:MNKD) is having yet another strong day in the market as the stock continues to break ties with the bulls. Over the past several months, MNKD just hasn’t seen the positive activity that many believe it deserves. However, that’s all starting to change. On Monday, MNKD reported earnings that were better than analyst expectations. Beyond earnings, the company also appointed a new CMO that has incredible experience in the industry and announced during their earnings call that they are nearing regulatory approval for Afrezza in Europe. All of this news has caused upward activity in the stock since; and that activity continues today. Considering the reason behind the growth, I’m not expecting it to end anytime soon. So, keep your eyes on this one for the opportunities that are to come.

Ibio Inc (NYSEMKT:IBIO) had an incredible day in the market yesterday after announcing that it had received a notice from the US patent office letting them know that their patent application has been approved and their patent will become active effective August 26th. However, today the story has been quite a bit different. Currently (3:09), IBIO is trading at $0.79 per share after a loss of 0.75% so far today. However, the bulls on the stock aren’t concerned in the least. The reality is that what we’re seeing from the stock today is nothing more than normal market activity. following overwhelmingly positive news, we tend to see overreactions in the market. Those overreactions are then corrected the next day before gains ensue. With that said, we can expect to see more gains out of this one shortly; so make sure to watch it closely.

Like IBIO, Novavax, Inc. (NASDAQ:NVAX) is having a rough day in the market today; and like IBIO, bulls really aren’t concerned. Yesterday, Novavax had an incredible day in the market after announcing solid top-line data from its most recent Phase 2 study. For more information on the data, click here. The positive data led to an incredible increase in the value of the stock. However, as mentioned above, we we see massive gains on any stock, some of the upward movement is generally an overreaction and corrected the next day before the company continues moving in the upward direction. Nonetheless, the bulls aren’t concerned as they know that gains are likely to continue after today’s correction. So, this is another stock to keep an eye on for potential opportunities moving forward.

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