AUPH, SCYX, and MDCO are among the drugmakers moving today
A handful of biotech stocks are making big moves today. Among the drugmakers in focus are
Aurina Pharmaceuticals Inc (NASDAQ:AUPH),
SCYNEXIS Inc (NASDAQ:SCYX),
and
The Medicines Company (NASDAQ:MDCO).
- AUPH is the best-performing Nasdaq stock thus far, up 31.6% at $5.33, after the company reported encouraging data for Voclosporin, its lead treatment for lupus nephritis. The shares of AUPH have officially closed their August bear gap -- triggered by concerns of patient deaths related to the aforementioned drug -- to touch a fresh multi-year high of $5.69 earlier. A few recent short sellers could be kicking rocks, as short interest on Aurina Pharmaceuticals Inc skyrocketed more than 300% during the past two reporting periods.
- SCYX is 4.8% higher at $5.03, after the firm unveiled the results of two Phase 2 studies and said it closed a $15 million term loan with Solar Capital Ltd. (NASDAQ:SLRC). The stock has rocketed 189% since touching a record low of $1.74 in mid-July, and is on pace to topple its 50-week moving average for the first time in more than a year. Analysts are already in SCYNEXIS Inc's corner, though, with all four covering brokerage firms doling out "buy" or better endorsements.
- MDCO is down 13.8% at $33.18, as Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) -- with which it's developing a cholesterol-lowering drug -- gets destroyed. The Medicines Company shares are now south of their 80-day moving average for the first time since late July, landing on the short-sale restricted list. Still, there are likely quite a few shorts cheering today, as more than 19% of MDCO's float is dedicated to short interest. At the stock's average pace of trading, it would take more than three weeks to buy back these bearish bets.
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