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Highlights
- Virpax Pharmaceuticals, Inc. (NASDAQ:VRPX) stock surged 62.54% to US$24.95 at 11:26 am ET Wednesday.
- PharmaCyte Biotech, Inc. (NASDAQ:PMCB) closed a public offering of around US$15 million on Aug 12. The stock jumped 161.11% to US$8.93 at 3:46 pm ET.
- AzurRx BioPharma, Inc. (NASDAQ:AZRX) stock rose 36.19% to US$0.718 at 3:49 pm ET.
Several small and big pharma company stocks were trending on Wall Street Wednesday. Here we look at the top four trending pharma stocks that saw significant gains today.
Virpax Pharmaceuticals, Inc. (NASDAQ:VRPX)
The market capitalization of this biopharmaceutical company is US$123 million.
The company’s IPO closed in Feb 2021. The company generated no revenue. It incurred a net loss of US$2.34 million or US$0.47 per share diluted in June quarter, 2021, compared to US$1.27 million or US$0.41 per share diluted in the June quarter of 2020.
Its cash reserve as of June 30, 2021, was US$10.47 million.
On Tuesday, the company said that it was in touch with FDA concerning its new drug. Virpax mainly develops drugs for pain relief. The stock saw huge investor interest over the past two days. The share volume was 335,727 on Aug 16, and on Aug 17, it was 164,939,100.
Similarly, the stock price jumped from US$4.2 on Aug 16 to US$15.35 on Aug 17, 2021. It was trading 62.54% higher at US$24.95 at 11:26 am ET on Wednesday.
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PharmaCyte Biotech, Inc. (NASDAQ:PMCB)
It is a biotechnology company and develops drugs for cancer and diabetes. Its market capitalization is US$12.88 million. The company had no revenue in the fiscal year ended April 30, 2021. The net loss was US$3.6 million or US$2.45 per share diluted for FY 2021 compared to a net loss of US$3.83 million or US$4.23 per share diluted in FY 2020.
The company changed its name in January 2015 to PharmaCyte Biotech, Inc. from Nuvilex, Inc.
It closed a public offering of around US$15 million on Aug 12. PMCB offered 3,529,412 shares of common stocks and 529,411 shares for underwriters to execute their option within 30 days. Net proceeds from the offering were around US$13.6 million.
The PMCB stock had drawn huge investor interest on Aug 13; its trading volume was 20,339,550 compared to 782,087 on the previous day.
The stock was trading at US$8.93, up 161.11% at 3:46 pm ET on Wednesday, Aug 18.
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NRX Pharmaceuticals, Inc. (NASDAQ:NRXP)
It is a clinical-stage pharmaceuticals company with a market capitalization of US$666 million.
Its Q2 results were out on Aug 17. It generated no revenue, but its net loss swelled to US$16.0 million compared to US$0.1 million in the same quarter the previous year.
The company had US$13.39 million in cash as of June 30, 2021.
The stock’s trading volume on Aug 17 was 1,810,430, almost doubled from 907,946 on Aug 16. NRPX stock was trading at US$14.02, up 12.43% from the previous close, at 3:50 pm ET.
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AzurRx BioPharma, Inc. (NASDAQ:AZRX)
It is a development-stage biopharmaceutical company focused on gastrointestinal disease treatment. Its market capitalization is US$65 million.
For the June quarter of 2021, the company had no revenue, and the net loss was US$9.29 million or US$0.16 per share diluted compared to the net loss of US$4.7 million or US$0.17 per share diluted in the corresponding quarter of 2020. The cash and cash equivalents were approximately US$8.1 million as of June 30, 2021.
The share volume was 2,047,502 on Aug 17, 2021. The stock surged 36.19% to US$0.718 at 3:49 pm ET on Wednesday.
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Source - pixabay
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Bottomline
Pharma stocks have been trending for various reasons, including FDA approvals for drugs or positive outcomes from trials. In addition, pharma companies are expected to do well in the coming quarters as the government looks to revamp the sector amid the covid crisis.
