The biotech rally seems to be far from over as clinical studies advance, FDA Approvals are turning quicker and new associations leading to numerous therapeutic advantages are taking hold for firms such as MannKind Corporation (NASDAQ:MNKD), Therapix Biosciences Ltd. – American Depositary Shares (NASDAQ:TRPX), Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE), Canopy Growth Corporation (OTCMKTS:TWMJF) and Aptevo Therapeutics Inc (NASDAQ:APVO).
Oppenheimer’s Leah Rush Cann issued a publication on Barron’s writing Biotech equities, that still remain extremely undervalued, with a positive outlook that comes on the back of the biotech sector has recorded a 17.7% jump this year through September. Her stance is that the sector is demonstrating ‘increasing strength’.
MannKind recently reported that the U.S. FDA has permitted an update to the Afrezza prescribing data to include new clinical information that was demonstrated at the American Diabetes Association Scientific Sessions in this June. Afrezza inhalation powder is permitted by the FDA to enhance glycemic control in adult people with type 1 and type 2 diabetes mellitus. The drug is the only inhaled fast-acting mealtime insulin available in the U.S. Afrezza is dosed at the starting of a meal and commences to appear in the blood in nearly one minute
Therapix Biosciences, a specialty, clinical-stage pharmaceutical firm focusing on the advancement of cannabinoid-based treatments, reported that it has finalized a deal with Catalent Pharma Solutions, the major international provider of advanced delivery technologies and advancement solutions for biologics, drugs and consumer health offerings, for the formulation, clinical manufacturing and development of THX-TS01.
Pursuant to the deal, Catalent will advance THX-TS01 in softgel form in back of Therapix’s clinical development plan and in accordance with cGMP. The formulation, analytical, development and cGMP manufacturing activities will be planned at Catalent’s primary softgel advancement and manufacturing facility in St. Petersburg, Florida.
In the last trading session, the stock price of MannKind gained more than 1% to close the day at $5.03.