Biotech Alert: Searches spiking for these stocks today

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include: 

• Journey Medical (DERM), 338% surge in interest
• Genfit (GNFT), 120% surge in interest
• Tonix Pharmaceuticals (TNXP), 74% surge in interest
• NanoViricides (NNVC), 34% surge in interest

Pipeline and key clinical candidates for these companies:

Journey Medical says it is focused on identifying, acquiring, developing and strategically commercializing “innovative, differentiated dermatology products through its efficient sales and marketing model.” The company currently markets eight branded and three generic products that help treat and heal common skin conditions.

Genfit is a late-stage biopharmaceutical company dedicated to improving the lives of patients with rare and severe liver diseases characterized by high unmet medical needs. Genfit’s R&D pipeline covers six therapeutic areas via seven programs which explore the potential of differentiated mechanisms of action, across a variety of development stages, including acute on-chronic liver failure, hepatic encephalopathy, cholangiocarcinoma, urea cycle disorder, organic acidemias and primary biliary cholangitis. Beyond therapeutics, Genfit’s pipeline also includes a diagnostic franchise focused on NASH and ACLF.

Tonix is focused on central nervous system, rare disease, immunology and infectious disease product candidates. Tonix’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022 and interim data expected in the second quarter of 2023. TNX-102 SL is also being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix initiated a Phase 2 study in Long COVID in the third quarter of 2022 and expects interim data in the second quarter of 2023. TNX-1300 is a biologic designed to treat cocaine intoxication and has been granted Breakthrough Therapy designation by the FDA.

NanoViricides is a development stage company that is creating special purpose nanomaterials for antiviral therapy. The company’s novel nanoviricide class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. The company’s lead drug candidate is NV-CoV-2 for the treatment of RSV, COVID-19, Long COVID, and other respiratory viral infections. Its other advanced candidate is NV-HHV-1 for the treatment of Shingles. The company is currently focused on advancing NV-CoV-2 into Phase I/II human clinical trials.

Recent news on these stocks:

June 11

H.C. Wainwright raised the firm’s price target on Genfit to $13 from $11 and kept a Buy rating on the shares after the company’s partner Ipsen announced the FDA has granted accelerated approval of Iqirvo once-daily for the treatment of primary biliary cholangitis in combination with ursodeoxycholic acid. The firm says Iqirvo has a favorable label to support trial and uptake.

Tonix Pharmaceuticals announced that it was offering to sell common stock, no amount given, adding that it intends to use the net proceeds from the offering for working capital and general corporate purposes, including the preparation of the new drug application relating to its Tonmya product candidate in patients with fibromyalgia, and the satisfaction of any portion of its existing indebtedness. Dawson James Securities is acting as the sole placement agent for the offering.

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About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.