Hepatitis B Treatment Receives FDA Fast Track, Stock Shoots Higher
The week promises to be an interesting one for equity markets, as investors seek to determine if last week’s stock pullback has found its bottom.
The majority of analysts believe the market should calm this week, as earnings remain solid amidst a growing economy. But dangers lurk in, for instance, in a report on US inflation due this week. Rising inflation would give the US Federal Reserve more imperative to keep rates moving higher.
Whatever the week brings, NewsQuantified users will be ready.
Today’s Top Performer comes out of the Pharmaceutical sector, which continues to post impressive gains. As the market becomes more volatile, we can expect investors to be more cautious with passive investing strategies. This shift should only accelerate the pace of news-based stock plays.
CTRV focuses on the development and commercialization of targeted anti-viral therapies.
This morning, CTRV announced that the FDA has agreed to a special expedited approval process for their new “TXL” drug, being developed for the treatment of chronic Hepatitis-B. They had announced their intention to seek this “fast-track” in January, but the FDA’s receptivity was unclear until now.
This approval should shorten the overall length of TXL’s non-clinical trials by 12-18 months.
The new treatment directly targets the liver, allowing for use of the compound as a “direct action” antiviral.
Investors bought the stock heavily on the news, driving it to gains over 30% at the time of this writing.
Diverse Plays, Great Profits: All in a single news day.
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