As we look back at the last trading week, several biotechs reported key data from binary events. Cerecor Inc. (NASDAQ: CERC) commenced the week with delivery of disappointing data from its Phase 2 trial of CERC-501, which was followed up later on Thursday by news from Horizon Pharma (NASDAQ:HZNP) that its Phase 3 trial of ACTIMMUNE for the treatment of Friedreich’s ataxia (FA) did not meet its primary endpoint.
To the upside, both Neuroderm Ltd (NASDAQ:NDRM) and SAGE Therapeutics Inc (NASDAQ:SAGE) announced positive feedback from the FDA, potentially accelerating their paths to approval, while speculative interest continued to revolve around micro-cap companies, with the likes of Sunshine Heart Inc (NASDAQ:SSH) and Opexa Therapeutics Inc (NASDAQ:OPXA) just some of the companies with low share floats to exhibit volatile trading action.
One biotech stock that continues to trade with great volatility is Ophthotech Corp (NASDAQ:OPHT). Shares of the company bounced around for much of the week, before settling higher on Friday as investors position themselves ahead of the most keenly awaited catalyst left on the calendar for December. Phase 3 data from its trial of Fovista are due this month. As a side point, Nektar Therapeutics (NASDAQ:NKTR) is entitled to royalties on any net sales of Fovista and other payments based upon Ophthotech’s meeting certain regulatory and sales milestones.
Ophthotech leads this week’s Biotech Watch List below: