CORAL GABLES, FL / ACCESSWIRE / October 15, 2015 / On Wednesday Richmond Federal Reserve President Jeffrey Lacker stated a brief occurrence of upsetting economic information that has done little to alter his outlook for the U.S economy. Lacker, who voted for an interest rate increase in September against the majority of Fed policymakers who choose to keep rates steady, stated he has not decided on how he will vote at the Oct. 27th-28th meeting.
Although he was not persuaded much by a slowdown in job growth and weaker-than-expected retail sales in September, "It doesn't change my outlook much," he told Fox Business in an interview. In contrast to what many had speculated during late September, the space for biotechnology stocks has seen a much more focused approach by investors. Though overall the larger, index driving company stocks have seen consolidation during recent weeks, companies like CASI Pharmaceuticals, Inc. (NASDAQ: CASI), Alphatec Holdings, Inc. (NASDAQ: ATEC), and SciVac Therapeutics Inc. (OTCQX: SVACF) have actually seen an increase in both intra-day prices and comparative volume.
CASI Pharmaceuticals, Inc. is a public, biopharma company dedicated to certain therapeutics that focus on cancer and other unmet medical needs. In a recent announcement the company revealed that its oncology drug candidate, ENMD-2076 received Orphan Drug designation from the European Medicines Agency for the treatment of hepatocellular carcinoma (HCC), including fibrolamellar carcinoma, a rare type of HCC. In the past 30 days beginning on September 15 to October 14th CASI has seen a large increase in price of 78.43%. This new designation gives CASI 10 years of market exclusivity in EU after ENMD-2076 receives marketing authorization there. The product was previously granted Orphan Drug designation for the treatment of HCC by US Food and Drug Administration last year and provides CASI with a 7-year market exclusivity in the country after its New Drug Application approval.
Alphatec Holdings, Inc. (ATEC) is the parent company to Alphatec Spine, Inc. The Company focuses on providing spinal fusion technology. Through aggressive market expansion into untouched U.S. territories where Alphatec did not previously have coverage, the company attributes much of the third quarter's success to the increased number of distribution relationships and surgeon customers it has built. In its preliminary revenue results released this week, Alphatec shoed a third quarter 2015 revenue of roughly $43 million with $27.4 million of that attributed to U.S. revenue. Internationally the company realized growth of 13% up $2.1 million compared to Q3 of 2014. Since hitting lows of $0.3091 earlier this month the stock has seen an increase by as much as 45.58% following Wednesday's highs of $0.45.
SciVac Therapeutics Inc. (SVACF) whose headquarters are located in Rehovot Israel, is in the business of developing, manufacturing and promoting biological products for human healthcare. The Company's flagship product, Sci-B-Vac(TM), is a recombinant 3rd generation hepatitis B vaccine. SVACF announced recently that its wholly-owned subsidiary SciVac Ltd. has obtained the go-ahead from the Israeli Ministry of Health to progress further on all standard manufacturing involving labeling and release of Sci-B-Vac(TM) to the market. This is after corrective actions were given to the automated labeling system and an overview of the Company's facilities earlier in the month of September. SVACF has seen highs this week of $0.0195, which is up roughly 13% from last Friday's. In previous coverage, it was noted that Opko Health, Inc. (OPKO) had a 45% stake in SciVac. Sci-B-Vac has displaying a performance in 20+ company-sponsored or investigator-initiated trials, dealing with over 5000 who have enrolled while also being administered to over 500,000 patients to date. Results have also been favorable with regard to safety and efficacy profiles according to company data.
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