Nutriband (NTRB), Protara (TARA) stocks gallop on deals, drug approval

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 Nutriband (NTRB), Protara (TARA) stocks gallop on deals, drug approval
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Highlights

  • Nutriband Inc. (NASDAQ: NTRB) stock jumped on securing a lucrative manufacturing deal with San Diego-based Diomics for its Diocheck™ technology.

  • Protara Therapeutics, Inc. (NASDAQ: TARA) climbed 11.41% after receiving FDA clearance for its new drug application for non-muscle invasive bladder cancer.

  • NASDAQ Biotechnology (NBI), which has over 260 stocks, rose 9.01% in one year.

Nutriband Inc. (NASDAQ: NTRB) stock surged 50.95%, and Protara Therapeutics, Inc. (NASDAQ: TARA) stock jumped 11.41% at 2:33 pm ET on Tuesday.

NTRB was priced up at US$11.17, while TARA was priced at US$7.52.

Nutriband Inc.

The stock jumped after the company announced a lucrative manufacturing deal with San Diego-based Diomics for its Diocheck™ technology.

With the help of this technology, a person can check the presence of antibodies to COVID-19 for an extended period. The Diocheck patch can monitor the level of antibodies after a person receives the vaccine. A decline in antibodies may indicate the need for a booster dose.

Using Diomics’ FDA approved material Diomat bioresorbable polymer, the Diocheck patch can monitor the circulation of COVID-19 antibodies up to 24-36 hours.

This exclusive contract may give Nutriband more visibility in the market.

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The stock closed at US$7.4 on Monday with a share volume of 861,119. The stock was trading at US$11.16 at 2:55 pm ET.

NTRB’s market cap is 86 million. The company manufactures pharmaceuticals products, including therapeutic transdermal patches and cosmetic and nutritional products. It is headquartered in Orlando, Florida.

For the three months ended July 31, 2021, the company posted revenue of US$213 thousand compared to US$84 thousand in the same period a year ago. The net loss increased to US$520 thousand or US$0.08 per share diluted compared to the net loss of US$226 thousand or US$0.04 per share diluted.

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Biotechnology stocks Nutriband Inc. (NASDAQ: NTRB), Protara Therapeutics, Inc. (NASDAQ: TARA) trend after exclusive deal, FDA approval.

Source – Pixabay

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Protara Therapeutics, Inc.

The Protara stock has jumped after getting FDA clearance for its investigational new drug (IND) application for bladder cancer.

This drug is an investigational cell-based therapy for treating non-muscle invasive bladder cancer (NMIBC). TARA may start Phase I clinical trial in adults this year.

The clinical-stage company is engaged in identifying and developing transformative therapies for cancer and rare diseases. This New York-based company has a market cap of US$84 million.

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For the June quarter of 2021, the net loss of the company was US$12.78 million or US$1.14 per share diluted compared to the net loss of US$7.1 million or US$1.22 for the June quarter of 2020.

Its cash and equivalent increased to US$47.6 thousand as of June 30, 2021, against US$30.0 thousand in 2020 on the same day. The stock fell 64% in one year and closed at US$6.75 on Oct 11, with a share volume of 282,815.

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Bottomline

The NASDAQ Biotechnology (NBI), which has more than 260 stocks, rose 2.63% YTD and 9.01% in one year. Healthcare stocks have been a major focus during the pandemic. However, investors should analyze the companies before investing in stocks.

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