- FDA has approved ChemoCentryx's drug Avacopan, to be sold under the brand name Tavneos.
- A Duke University study showed Vaxart's oral drug is more effective in reducing SARS-CoV-2 transmission.
- Vaxart, Inc. (NASDAQ: VXRT) stock surged 12% YTD, while ChemoCentryx Inc. (NASDAQ: CCXI) stock fell 66.72% YTD.
Stocks of ChemoCentryx, Inc. (NASDAQ: CCXI) and Vaxart, Inc. (NASDAQ: VXRT) caught investors' eyes on Friday after sharing upbeat news on the drug front.
The CCXI stock jumped 92%, while the latter rose 7% in the premarket session.
CCXI traded at US$37.74, up 92.55%, while VXRT traded at US$7.61, up 7.33%, at around 8 am ET from their previous closing prices.
Here are some recent developments of the two companies.
ChemoCentryx, Inc. (NASDAQ: CCXI)
ChemoCentryx is a biopharmaceutical company based in San Carlos, California. It develops oral drugs for treating autoimmune diseases, cancer, and other diseases.
On Friday, the company said that the US Food and Drug Administration (FDA) approved its leading oral drug Tavneos (Avacopan), for treating the autoimmune disease.
The Avacopan formulation is sold under the brand Tavneos. It is expected to be available in the clinics in the next few weeks, the company added.
ChemoCentryx has a market cap of US$1.37 billion and a forward P/E one year of -10.59. Its EPS is US$-1.77. Its stock value fell 66.72% YTD.
The 52-week highest and lowest stock prices were US$70.29 and US$9.53, respectively. Its trading volume was 6,174,183 on October 7.
The total revenue of the company was US$1.81 million in Q2, FY21, compared to US$49.44 million in the year-ago quarter. It reported a net loss of US$39.20 million against an income of US$20.26 million in Q2, FY20.
Vaxart, Inc. (NASDAQ: VXRT)
Vaxart is a biotechnology company based in San Francisco, California. It develops oral recombinant vaccines using temperature-stable tablets, according to the company.
The VXRT stock surged after a Duke University study of Vaxart's oral tablet showed positive results in reducing SARS-CoV-2 transmission in animals. The drug is currently under review. The study showed the pill was more effective than the injectable flu vaccines.
Vaxart’s market cap is US$888.17 million, and the forward P/E one year is -10.43. Its EPS is US$-0.48. The stock value of VXRT jumped 12.01 percent YTD. The 52-week highest and lowest stock prices were US$24.90 and US$3.50, respectively. Its share volume on October 7 was 5,641,791.
Its total revenue was US$0.11 million in Q2, FY21, compared to US$0.52 million in the same quarter of the previous year. It reported a net loss of US$16.11 million, or US$0.13 per share, against a loss of US$8.97 million, or US$0.12 per share, in Q2, FY20.
The healthcare sector saw rapid growth during the pandemic, boosted by drug developments, research, and rapid approvals, especially for Covid-19 vaccines. The S&P 500 healthcare sector grew by 12.32 percent YTD, suggesting its sustained growth. However, investors should evaluate the companies carefully before investing in the stock market.