Double Digit NASDAQ Stock Winners: PIRS, TLC, PRVB
4:07 pm Tuesday, May 25th, 2021
Following are major stock gainers on Nasdaq in Tuesday’s trading session:
Pieris Pharmaceuticals Inc (NASDAQ:PIRS) is the active stock gainer on Tuesday. The stock soared 49% to $2.76. The company said that it has reached into a multi-program research collaboration and license agreement with Genentech, a member of the Roche Group, to discover, develop and commercialize locally delivered respiratory and ophthalmology therapies that leverage Pieris’ proprietary Anticalin® technology.
Under the terms of the agreement, Pieris will receive $20 million as an upfront payment and may be eligible to receive more than $1.4 billion in additional milestone payments across multiple programs, as well as tiered royalties for commercialized programs.
Taiwan Liposome Company ADR (NASDAQ:TLC) is another notable winner as the stock went up 24.74% to $6.10. India’s Central Drugs Standard Control Organization has approved Taiwan Liposome Company’s (NASDAQ: TLC) marketing application for Amphotericin B Liposome for 50mg Injection for immediate import to aid in the country’s emergency of acute liposomal amphotericin B shortage.
AmphoTLC is a liposomal amphotericin B injection indicated for severe systemic fungal infections such as mucormycosis, a serious fungal infection known as a black fungus.
Provention Bio Inc (NASDAQ: PRVB) up 25.80% to $10.04 on Tuesday. The FDA published Provention Bio Inc’s teplizumab-related briefing documents ahead of an Advisory Committee meeting scheduled for May 27 (Thursday). The agency sounded a relatively positive tone on safety and efficacy after identifying deficiencies that preclude discussion of labeling and post-marketing requirements. The company seeks approval for teplizumab for the delay of progression to clinical type 1 diabetes (T1D) in at-risk patients.
The approval could make teplizumab the first disease-modifying therapy that preserves beta-cell function for patients with stage 2 of the disease who are at risk of progressing to stage 3 clinical T1D, stated the document.
