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Healthcare Stocks That Hit New Highs (XOMA, MNTA, XGN...)

pharma 040518 07nov19 lt

The following are the healthcare stocks that hit a new 52-week high on Wednesday.

1. XOMA Corporation (XOMA) hit a new high of $23.00 in intraday trading on Wednesday before closing at $22.68. The stock jumped nearly 80% percent year-to-date.

XOMA is a biotechnology royalty aggregator, engaged in multiple and productive licensing agreements and development collaborations related to its antibody technologies.

XOMA recently acquired a royalty interest in six clinical-stage assets targeting the adenosine pathway for $10.0 million from Palobiofarma S.L., including NIR178, which is being developed by Novartis as a novel checkpoint inhibitor for the treatment of solid tumors. Palobiofarma is developing the other five assets.
On November 5, the company reported third-quarter financial results ended September 30, 2019.
The company reported net income in the third quarter of $1.91 million or $0.20 per share, compared with net loss of $4.58 million or $0.55 per share for the third quarter of last year. Analysts were expecting a net loss of $0.48 per share. Revenues in the third quarter rose to $8.9 million compared with $0.9 million in the year-ago quarter.

2. Viela Bio, Inc. (VIE) recorded a new high of $26.75 in intraday trading on Wednesday before closing at $25.08. The stock debuted on the Nasdaq on October 3, 2019, at an opening price of $21.50.
Viela Bio is a clinical-stage biotechnology company, engages in the research and development of treatments for severe inflammation and autoimmune diseases.
Lead drug candidate, Inebilizumab (Anti-CD19 mAb) is proposed for the treatment of neuromyelitis optica spectrum disorder (NMOSD), a rare, relapsing, autoimmune, inflammatory disease. A pivotal study dubbed N-MOmentum was recently completed successfully. Based on the results, the company has submitted Biologics License Application (BLA) for inebilizumab, which is under review by the FDA.
Inebilizumab is in phase I study in other diseases also including, kidney transplant desensitization, myasthenia gravis, and IgG4-related disease.

3. Exagen Inc. (XGN) hit a new high of $21.04 in intraday trading on Wednesday before closing at $20.38. The stock debuted on the Nasdaq on September 19, 2019, at an opening price of $16.80.
Exagen is a commercial-stage diagnostics company, which develops and markets products for the diagnosis, prognosis, and monitoring of patients affected by autoimmune rheumatic diseases (ARDs).

Last month, the company inked an alliance with Horizon Therapeutics related to its Exagen's AVISE MTX Test to be used in the study of Horizon's KRYSTEXXA (pegloticase injection) in combination with methotrexate, dubbed MIRROR, to increase the durability of response for patients with chronic gout refractory to conventional therapies. AVISE MTX Test is used to measure methotrexate polyglutamates (MTXPGs), the active metabolites of methotrexate (MTX).

Third-quarter results are expected to be reported on November 12, 2019.

4.Momenta Pharmaceuticals, Inc. (MNTA) recorded a new high of $16.29 in intraday trading on Wednesday before closing at $15.65. The stock is up 40% year-to-date.

Momenta Pharmaceuticals is a biotechnology company developing novel biologic therapies for the treatment of rare immune-mediated diseases.

The company has a portfolio of novel drugs and biosimilars in development.
Lead drug candidate, Nipocalimab (M281) is in a phase II/III study in warm Autoimmune Hemolytic Anemia (wAIHA). The company expects to report top-line data from this study around the end of 2021.
wAIHA is a rare autoimmune hemolytic anemia characterized by the destruction of red blood cells resulting in severe anemia.
Nipocalimab is also being evaluated in two ongoing Phase 2 trials:

In Myasthenia gravis, a neuromuscular disorder, dubbed Vivacity-MG, where top-line data is anticipated in the second or third quarter of 2020.
In pregnant women at high risk for early-onset severe hemolytic disease of the fetus and newborn (HDFN), dubbed Unity, with top-line data anticipated in 2021.
M710, a proposed biosimilar to Regeneron Pharma's EYLEA (aflibercept), being developed in collaboration with Mylan, is under phase III pivotal study in patients with diabetic macular edema (DME).
In the third quarter, the results of which were reported last week, the company had revenues of $6.39million compared with $14.88 million in the same quarter last year.

5. Innate Pharma S.A. (IPHA) hit a new high of $6.46 in intraday trading on Wednesday before closing at $6.32. The stock debuted on the Nasdaq on October 17, 2019, at an opening price of 5.90.
Innate Pharma discovers and develops therapeutic antibodies for the treatment of cancer.

The lead drug candidate is monalizumab, which the company is co-developing with AstraZeneca. A phase III study of monalizumab in combination with cetuximab in patients suffering from recurrent or metastatic squamous cell carcinoma of the head and neck (SCCHN) is expected to start in 2020.
IPH4102, proposed for the treatment of different subtypes of T-cell lymphoma (CTCL) is under phase II study, dubbed TELLOMAK.

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