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Tag: Biotechnology company

  • Rocket Pharmaceuticals (RCKT) Announces Third Quarter Financial Results

    Shares of Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) soared 10.93% after the company announced today the 2020 financial results of the Third quarter ended September 30, 2020. The company has also disclosed the update of its business operations, upcoming milestones, and key developments.

    It has reported the Cash, cash equivalents, and investments as of September 30, 2020, of $228.7 million. Its balance sheet includes $52.0 million of fully convertible notes. Rocket Pharmaceuticals has reported that its Research & Development expenses for the three months ended September 30, 2020, were $21.7 million.

    The biotechnology company has revealed that it has recorded the General and administrative expenses of $5.7 million for the three months ended September 30, 2020.  Its Net loss was $29.0 million or $0.53 per share for the three months ended September 30, 2020. Furthermore, it has reported the 55,204,127 shares of common stock were outstanding as of September 30, 2020.

    Rocket Pharmaceuticals revealed that the Phase 1/2 clinical trial of RP-L201 for LAD-I has shown positive results.  It has announced that the first patient has received a higher dose level of 1.1×1014 genome copies/kilograms after clearance from the U.S.

    Furthermore, it has announced the establishment of the Research & Development (R&D) and Chemistry, Manufacturing, and Controls (CMC) facility in Cranbury, New Jersey. The new facility is 103,720 square feet. It has dislcosed that the Fast Track Designation has been granted to RP-L401 gene therapy for IMO and RP-A501 for Danon Disease got Rare Pediatric Disease Designation.

    Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) shares were trading up 9.39% at $32.14 at the time of writing on Wednesday. It has a trading volume of 201.27K as compared to the average volume of 273.50K. Rocket Pharmaceuticals, Inc. (RCKT) share price went from a low point around $9.01 to briefly over $30.43 in the past 52 weeks. RCKT market cap has remained high, hitting $1.67 Billion at the time of writing.

  • Equillium (NASDAQ: EQ) Gets FDA Green Signal To Start Phase 3 COVID-19 Trial

    Equillium (NASDAQ: EQ) Gets FDA Green Signal To Start Phase 3 COVID-19 Trial

    Shares of Equillium, Inc. (NASDAQ: EQ) soared 28.50% in the pre-trading hours after the company announced that it has got the ‘Study May Proceed Letter’ from the US Food and Drug Administration (FDA). After receiving a green signal from the FDA biotechnology company is planning to commence the COVID-19 Phase III trial, titled EQUINOX.

    In the EQUINOX Phase III trial, the company will officially enroll a total of 800 patients in the fourth quarter of 2020. FDA has also specified that the promising result of the study will also support the regulatory filing of a Biologic License Application (BLA).

    Equilium, Inc. (NASDAQ: EQ) shares were trading up 33.00% at $7.93 at the time of writing on Friday. It has a trading volume of 2.02 million in the pre-market trading session on Friday. Equilium, Inc. (EQ) share price went from a low point of around $2.20 to briefly over $27.05 in the past 52 weeks. It has moved up 172.73% from its 52-weeks low and moved down -77.82% from its 52-weeks high. EQ  market cap has remained high, hitting $144.84 million at the time of writing.

    Itolizumab is a clinical-stage, first-in-class monoclonal antibody that selectively targets the CD6-ALCAM pathway. It is used to treat COVID-19 patients suffering from Acute Respiratory Distress Syndrome (ADS). Itolizumab has the ability to control cytokine cascade that is the basis of multiple complications in COVID-19 Patients. Patients have experienced various complications such as organ failure, blood clots, and tissue damage.

    COVID-19 is continuously spreading all over the world and has infected many patients all around the globe.  Equillium is striving to provide treatment to COVID-19 patients. In the Phase III trial, patients will get either placebo or Itolizumab and they will get up to two doses of either placebo or Itolizumab on Day 1 and Day 8 if necessary.

    All the patients will be closely monitored through Day 28 while hospitalized or through post-discharge follow-up. The main purpose of this study is to evaluate the benefits of itolizumab. The trial will also analyze the safety, tolerability, and pharmacokinetics (PK) of itolizumab.