Pasithea Therapeutics (KTTA) and Aptevo (APVO) are the talks of the town with KTTA and APVO share prices surging higher after very positive news releases.
Pasithea Therapeutics, a revolutionary biotechnology business focusing on the research and development of innovative and effective medicines for mental and neurological problems – had its stock price rise by more than 135 percent pre-market today. Pasithea Therapeutics announced that its wholly owned subsidiary Pasithea Clinics has been approved to provide esketamine nasal spray (SPRAVATO) for treatment-resistant depression in adults and has begun offering the treatment in its Knightsbridge, London location, which elicited a positive response from investors. Only three facilities in the United Kingdom have been certified to provide this therapy.
Aptevo, a clinical-stage biotechnology company focusing on developing innovative immuno-oncology therapeutics based on its patented ADAPTIR and ADAPTIR-FLEX platform technologies – had its stock price rise by more than 40% today during intraday trading. Aptevo Therapeutics’ announcement of a clinical update for the company’s Phase 1b Expansion of assessing APVO436 in the treatment of acute myeloid leukemia has received encouraging feedback from investors (AML). To yet, one full remission has been documented in the preliminary data.
Aptevo thinks that APVO436 has the potential to assist AML patients achieve full remissions without MRD while also lowering the probability of leukemic relapses. Aptevo further thinks that using APVO436 to target MRD in AML is linked with a very low risk of cytokine release syndrome (CRS) as well as an improved chance of responses, as both CRS and responses are inversely related to the patients’ leukemia load. If successful, adopting this therapy to deepen the remission to an MRD-negative remission might result in increased overall survival in AML.
A stock better than APVO and KTTA
A better stock we like is Senseonics (SENS), the medical device company recently released their earnings report and beat EPS estimates by 45% with a small revenue miss of 0.97%. In addition, the company reaffirms FDA approval for their 180-day continuous glucose monitoring (CGM) system by the end of the year with sales and commercialization starting in 2023.
- Generated third quarter 2023 revenue of $3.5 million
- FDA active review of the Eversense® 180-day PMA supplement application continues
- Presented clinical data on the safety and accuracy of Eversense at the European Association for the Study of Diabetes Annual Meeting, Association of Diabetes Care & Education Specialists Annual Conference and the Diabetes Technology Meeting
