CORAL GABLES, FL / ACCESSWIRE / August 1, 2017 / Biotechnology stocks have remained hot this year. Since the last pullback prior to the U.S. presidential election, shares of companies across the sector have seen a boost from positive sentiment surrounding the industry. In fact, since November of 2016, the Biotech Index itself has lifted as much as 33% as of recent highs earlier in July. Earnings season hasn't slowed down stocks in this market either, with many seeing trading momentum increase leading up to their reports. Other companies have seen interest build with new leadership being appointed to executive and board level positions.
Oxis International, Inc. (OXIS) has seen shares rally since June. The stock jumped from under $0.015 to as high as $0.0295 before settling at current trading levels around $0.02. Most recently, the company announced that it has signed a binding LOI agreement to acquire Georgetown Translational Pharmaceuticals Inc. One of the key highlights of the proposed acquisition is that it will allow Oxis to acquire Georgetown Translational's leading candidate, Pain Brake, a pain-relief drug expected to be submitted to the FDA as a New Drug Application in 15 to 18 months. The deal also brings on Dr. Clarence-Smith co-founded, who Chase Pharmaceuticals Corporation (acquired by Allergan, PLC), as the new Chief Executive Officer of Oxis. The company has also proposed a name change to GT Biopharma Inc. as part of the transaction.
Moleculin Biotech, Inc. (NASDAQ: MBRX) also recently announced additional members to its team. On July 27, the company released news on the appointment of John M. Climaco as an independent member of the Company's Board of Directors. This went effective July 24 in order to fill a board vacancy. "We are pleased to have John join our Board, as he brings a wealth of international business successes managing complex operation,s in addition to his well established capabilities in capital markets, product commercialization and business development," stated Walter Klemp, CEO of Moleculin. Similar to Oxis, shares of Moleculin have jumped in price since late June to as high as $3.75. On July 31, the stock closed at $2.99, which was up over 100% since July 10th.
BioLineRx Ltd. (NASDAQ: BLRX) is a clinical-stage biopharmaceutical company focused on oncology and immunology. On July 26, the company announced that its largest shareholder, BVF Partners L.P., entered into a definitive agreement to make an additional, direct investment of $9.6 million in BioLineRx. BVF's new investment is priced at $1.13 per unit. Each unit consists of 1 ordinary share, 0.35 of a Series A warrant, and 0.35 of a Series B warrant. "BioLineRx's therapeutic pipeline, strategic collaborations, scientific breadth and capabilities provide for a compelling investment opportunity for BVF. We are pleased to support the Company in the continued advancement of its clinical programs," said Mark Lampert, Founder and President of BVF Partners L.P. In early July, shares of BioLine were trading around $0.84 and on Monday, July 31, the stock saw highs of $1.09 to mark a near 30% move in 3 weeks.
About BiotechStocks.com
BiotechStocks.com is owned by MIDAM Ventures LLC., a Florida corporation that has been compensated $150,000 by OXIS International Inc. (OXIS) for a period beginning August 1, 2017 and ending September 1, 2017 to publicly disseminate information about OXIS International Inc. (OXIS). We own zero shares. Full Disclaimer Here.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither BTS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://biotechstocks.com
NO WARRANTY
BTS, the Author and the Reviewer (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise, arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness, or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
Contact:
SOURCE: BiotechStocks.com
ReleaseID: 470398
