On Thursday the major markets closed in green zone again. DJIA +0.73%, Nasdaq +0.57%, S&P500 +0.53%!
Biotech market also has raised: NASDAQ Biotechnology (NBI) +0.33%!
Shares of Prothena Corporation plc (PRTA) +5.02% and Foamix Pharmaceuticals Ltd (FOMX) +7.12% had raised. Shares of Immune Desi (IMDZ) -6.53% and XBiotech Inc. (XBIT) -15.49% had fallen!
Sage Therapeutic (SAGE) stocks increased $0.45 and closed at $6.77 (+7.12%). The trading volume exceeded 5 times the average trading: 534K vs. 164K. The company's capitalization was $208M. The minimum FOMX share price: $5.48, while the maximum price: $12.20.
To Rajiv Kaul, who manages the biggest U.S. biotechnology fund, a correction is just a discount on his favorite stocks.
Kaul, who runs the $13.4 billion Fidelity Select Biotechnology Portfolio, said many drug companies’ research pipelines are still primed to pay off, and dealmaking isn’t going away. He expects the industry to bounce back over the next few years as new antibiotics, gene therapies and drugs for cancer and Alzheimer’s disease begin to reach the market. Kaul also manages the $3.3 billion Fidelity Advisor Biotechnology Fund.
American Heart Association Rapid Access Journal Report
The latest round of failed drug trials for Alzheimer’s has researchers questioning the reigning approach to battling the disease, which focuses on preventing a sticky protein called amyloid from building up in the brain.
Duke University scientists have identified a mechanism in the molecular machinery of the cell that could help explain how neurons begin to falter in the initial stages of Alzheimer’s, even before amyloid clumps appear.
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