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Tag: NASDAQ: MRNS

  • Stocks to Watch as Markets Rebound

    Stocks to Watch as Markets Rebound

    The markets are set for a strong day after showings bullish trading activity in the early morning session.  This follows data showing that despite the challenges facing the economy at the moment, consumer spending is on the rise Consumer data for the month shows that spending is likely to fall by 5.8% compare to 2019, but it was much better than August 2020, when it dropped by 10%.

    This has created lots of excitement as it points to resilience in the economy. With a bailout plan from the government yet to materialize, growth in consumer spending points to an economy that is growing and would take off once the pandemic cloud clears.

    According to an economist from Morgan Stanley, savings build-up due to the CARES Act would give consumers a cushion going into Q4 and all the way into 2021.  She further noted that the spending of households has been largely stable driven by a return of jobs at a faster rate than the markets were expecting.

    She further added that Morgan Stanley expects that the amount consumers choose to take from saving and spend will be dependent on hopes of fiscal support from the government. As optimism rises, there are stocks that are outperforming the market this morning and are well-positioned to keep growing all through the day. Some of the big performers this morning are:

    Marinus Pharmaceuticals Inc [NASDAQ: MRNS]

    Marinus Pharmaceuticals Inc is top performer this morning and is up by over 290%. This comes after the company effected a one for every four stocks held reverse split. The reverse split takes effect today after it was approved by the company’s shareholders back in March. The split will cut on the company’s outstanding shares to 30.6 million from the previous 122.3 million.

    SPI Energy Co. Ltd [NASDAQ: SPI]

    SPI Energy Co Ltd is another top performer this morning and is up by over 200% This follows the company’s announcement that it had launched a subsidiary that will focus on electric vehicles. CEO Xiaofeng Peng stated that the move was a major milestone for the company, and would add to the company’s diverse range of businesses in the renewables market.

    MediciNova Inc [NASDAQ: MNOV]

    MediciNova Inc is another top performer pre-market and is up by over 20%. This follows the company’s announcement that its COVID-19 vaccine was a success in generating antibodies that neutralized SARS-CVOV-2 in mice.  This is a big deal as the world is in a race for a vaccine.

     

  • Marinus Pharmaceuticals (NASDAQ: MRNS) Is Popping Today. Here’s Why

    Marinus Pharmaceuticals (NASDAQ: MRNS) Is Popping Today. Here’s Why

    Shares of Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS) traded up 51.66% after announcing the encouraging result of a Phase 3 trial evaluating its drug candidate ganaxolone in children and young adults with CDKL5 deficiency disorder (CDD), a rare type of epilepsy.

    After the promising result of ganaxolone, Marinus has decided to submit the New Drug Application (NDA) to the US FDA in mid-2021. Not only this, but the company has also decided to submit Marketing Authorization Application (MAA) for ganaxolone for the treatment of CDD to the European Medicines Agency (EMA) by the end of Q3 2021.

    Marinus Pharmaceutical has earlier participated in Morgan Stanley Virtual Global Healthcare Conference on September 15. The biotechnology company is scheduled to participate in the Cantor Virtual Global Healthcare Conference on September 17, 2020.  The company is dedicated to the development of innovative medicines for the treatment of rare disorders.

    Marinus Pharmaceutical has disclosed that it has received the five-year development contract with BARDA.  The contract has been awarded to the company to support the development of IV ganaxolone for the treatment of refractory status epilepticus (RSE). There are many serious causes of RSE.

    Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS) shares were trading up 51.66% at $3.20 at the time of writing on Tuesday. Marinus Pharmaceuticals, Inc. (MRNS) share price went from a low point around $1.01 to briefly over $3.50 in the past 52 weeks, though shares have since pulled back to $3.20. Marinus Pharmaceuticals, Inc. (MRNS) market cap has remained high, hitting $381.28 million at the time of writing.

    In the Phase III trial, patients who have received the ganaxolone have shown a 32.2% median reduction in 28-day major motor frequency as compared to the 4% for placebo.

    Chief Medical Officer Joe Hulihan of MRNS said that after receiving the positive result from the trial encouraged the company to accelerate the clinical studies in tuberous sclerosis complex and possibly other rare pediatric epilepsies as well.

  • Top Biotech Stocks to Watch as Equities Rally

    Top Biotech Stocks to Watch as Equities Rally

    The markets are up this morning driven by a combination of COVID-19 vaccine excitement, and China-related news. On COVID-19 vaccine news, the announcement by AstraZeneca that it was restarting its late-stage COVID-19 vaccine trial is still exciting the market. Given that this is one of the most promising vaccine candidates in the market, investors are taking the latest development as a sign of good things to come. The excitement stems from the fact that a COVID-19 vaccine can lead to a revamp of the economy, due to a resumption of consumer spending.

    The U.S economy thrives on consumer spending and a return to pre-COVID-19 levels of spending would see the stock market’s rally again as investors throw money more confidently at the stock markets. On China, the country has reported positive data on industrial production and retail sales. The country has stated that industrial production increased by 5.6%, while retails grew by 0.5%. Given how important China is to the global economy, the growth data points to both economic resilience, and a potential bounce back in the world economy once a vaccine is found.

    As optimism rises in the markets, biotech stocks are leading the way in early morning gains. Some of the top stock performers ahead of markets are as below:

    Novus Therapeutics Inc [NASDAQ: NVUS]

    This stock is gaining quite strongly pre-market and is up by over 150%. This follows the company’s announcement that it was buying privately-held Analixis Therapeutics Inc. Through the acquisition, the company will have access to compound AT-1501, a next-gen anti-CD40L antibody.

    Once developed, it will be used for organ and cellular transplants, when treating autoimmune and neurodegenerative diseases. The company will also inherit Anelixis senior management that has lots of experience in drug development and commercialization. Commenting on the deal, board chairman Keith A. Katkin stated that the acquisition would deliver value to Novus shareholders.

    Marinus Pharmaceuticals Inc [NASDAQ: MRNS]

    Marinus Pharmaceuticals Inc is another top performer this morning and is up by over 60%. This follows the company’s announcement that Ganaxolene has met its primary endpoint in the company’s phase 3 trial for CDKL5 deficiency disorder The Company has also announced that the treatment was well-tolerated and that it had a discontinuation rate of under 5%.

    ARCA Biopharma Inc [NASDAQ: ABIO]

    ARCA Biopharma is another top performer this morning and is up by over 20%. This is largely price action-driven, and comes a month after the company announced that it had completed its FDA pre-IND consultation for its severe COVID-19 treatment. The company expects to submit its IND this month ahead of its phase 2b clinical trials.