CORAL GABLES, FL / ACCESSWIRE / September 13, 2017 / September has already been an interesting month for biotech stocks especially considering the mergers and acquisitions climate from the tail end of August. Why? The reason was from Gilead's announcement that it would be acquiring Kite Pharma for nearly $12 Billion. This has helped to propel shares of the iShares Nasdaq Biotech ETF to new 52 week highs as well. Keeping this in mind, the climate for biotech stocks continues to support a bullish tone where several companies have caught the attention of the market during recent weeks.
GT Biopharma (OTCQB: OXISD) recently announced the completion of its acquisition/merger of Georgetown Translational Pharmaceuticals, Inc. as well as the elimination of all debt. In addition to this, the company has acquired, through the deal with Georgetown, a suite of neurological products that are late stage and close to market. Another key highlight from the acquisition was the addition of a new CEO, Dr. Kathleen Clarence-Smith who's had myriad positions with large biotech firms, both taking drugs to market as well as being an integral part during other M&A activities.
Dr. Raymond Urbanski has also joined the GT Biopharma team. His position will be that of Chief Medical Officer. His previous experience has seen him hold positions at other biotech organizations including Vice President/CMO of the Established Products Business Unit at Pfizer. Dr. Urbanski served as Chief Medical Officer of Mylan Inc. For a full report on GT Biopharma (OXISD) Click Here.
Also making headlines has been T2 Biosystems, Inc. (TTOO). Earlier this week the company announced that it has filed a 510(k) premarket submission for the T2Bacteria Panel with the U.S. Food and Drug Administration. "The filing of T2Bacteria brings us one step closer to achieving our goal of providing the healthcare system with a comprehensive sepsis solution," said John McDonough, President and Chief Executive Officer. "We are very pleased with the performance of the T2Bacteria Panel in the pivotal clinical trial as the product has demonstrated performance comparable to our FDA-cleared T2Candida Panel."
Shares of T2 have been trading in an uptrend since the beginning of August. In fact, on August 3, shares were trading at $2.63. As of the afternoon on Wednesday, T2's share price has hit highs of $6.99.
BIOTECHSTOCKS,.com is owned by MIDAM VENTURES LLC., a Florida Corporation that has been compensated $550,000.00 by a GT Biopharma Inc. for a period beginning August 1, 2017 and ending Oct. 1, 2017 now extended to October 1, 2017 to publicly disseminate information about (OXISD). We own zero shares. Full Disclaimer Here.
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