- Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) stocks surged 11.24 percent to US$35.74 on September 30.
- Catalyst Pharmaceuticals, Inc. (Nasdaq: CPRX) jumped 7.97 percent to US$5.42 at 1.50 pm on Thursday.
- CPRX received a favorable court order regarding its medicine Firdapse.
Stocks of Atea Pharmaceuticals (Nasdaq: AVIR) and Catalyst Pharmaceuticals (Nasdaq: CPRX) were in investors focus on Thursday after making new announcements. AVIR said it would participate in a major vaccine conference, while CPRX received positive orders from the court.
Here are some recent developments of the two companies.
Atea Pharmaceuticals, Inc.
Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) stock traded at US$35.74 at 1.33 pm ET on Sep 30, up by 11.24 percent over yesterday’s closing price. AVIR is a Boston-based clinical-stage biopharmaceutical company and develops oral therapies for life-threatening viral diseases.
On Sep 29, the company announced that its members would participate in the Guggenheim 2nd Annual Vaccines & Infectious Day Conference on Oct 5, 2021.
Atea’s market cap is US$2.9 billion, while its 52-week highest and lowest stock prices were US$94.17 and US$18.72, respectively.
The company reported total revenue of US$60.4 million in Q2, 2021, as compared to zero in Q2, 2020. In addition, it reported a net income of US$1.5 million in the quarter against a net loss of US$11.5 million in Q2, 2020. It had cash and cash equivalents of US$816.5 million at the end of Q2, 2021. In addition, it spent US$39.8 million on research and development.
Atea has partnered with Roche to develop an oral anti-viral to thwart early signs of Covid-19. In June, the company had announced that it provided relief to hospitalized patients.
Catalyst Pharmaceuticals, Inc.
CPRX stock jumped 7.97 percent to US$5.42 at 1.50 pm ET on Sep 30. On Thursday, it announced that the 11th Circuit Court of Appeals had overturned the District Court’s decision to uphold FDA approval of Ruzurgi medicine by another company.
The drug has been developed for treating LEMS disease. However, the court gave CPRX’s drug Firdapse an “exclusive status”. CPRX is a Florida-based biopharmaceutical company and develops novel medicines for patients suffering from rare diseases.
CPRX’s market cap is US$559 million. The P/E ratio is 7.76 and the forward P/E one year is 12.87. The EPS is US$0.70. The 52-week highest and lowest stock prices were US$6.24 and US$2.88, respectively.
The company reported net revenue of US$36.4 million in Q2, 2021, as compared to US$29.6 million in Q2, 2020. The GAAP net income was US$12.2 million or US$0.12 per basic share, in the period, against US$9.8 million or US$0.09 per basic share. In addition, it had US$155.3 million in cash and investments at the end of Q2, 2021.
The healthcare sector has grown rapidly, boosted by covid vaccine deliveries and huge government and private investments. In addition, the government has pledged to upgrade the sector to meet future health emergencies. Many companies also have invested big to capitalize on the growing demand for various healthcare products and services. However, investors should evaluate the companies carefully before investing in stocks.