Small Cap Stocks Watchlist: May 19, 2017

The markets are relatively calm on Friday, despite the heightened volatility earlier this week. With political risks rising, the markets are likely to follow developments in Brazil, as well as the U.S. Although there has been some uncertainty in the markets this week, it seems like volatility is slowly coming back into play, and traders are liking this action. There are just a few small cap stocks moving today, and some traders could potentially find some opportunities in these names. Here’s the small cap stocks watchlist today.

Halozyme Therapeutics Inc (NASDAQ: HALO) shares are down over 7% this morning, after the company announced the pricing of its underwritten public offering of 10M shares of its common stock, at $12.50 per share. The gross proceeds of this public offering is expected to be around $125M. Halozyme also granted its underwriters with an option to purchase an additional 1.5M shares of its common stock at the offering price, less the discounts and commissions.

Take a look at HALO on the daily chart:

Source: TradingView

If you look at the chart above, you’ll notice that HALO actually had a bearish pattern heading into today. Moreover, the stock hit some resistance around the $14.50 area, and after the announcement of its public offering, the stock is looking to break the lower end of its uptrend today.

GlycoMimetics Inc (NASDAQ: GLYC) ended the day up nearly 100% yesterday, and it’s extending some of those gains today. Yesterday’s meteoric rise was due to the U.S. Food and Drug Administration (FDA) designating one of GlycoMimetics’ drugs as a Breakthrough Therapy. This therapy is targeted at adult refractory/relapsed acute myeloid leukemia (AML), and the treatment, GM-1271, is currently in the Phase II stage of a Phase I/II clinical trial.

Check out GlycoMimetics on the daily chart:

Source: TradingView

Amicus Therapeutics Inc. (NASDAQ: FOLD) shares are up over 3% today, after the company announced it completed the analysis plan for the primary endpoints in its Phase III clinical study of SD-101 for epidermolysis bullosa (EB). Additionally, SD-101 was previously placed on the FDA’s Breakthrough Therapy designation track. Amicus is looking to analyze the primary endpoints for the Phase III ESSENCE study in this manner:

  • The endpoint of “time to wound closure within 3 months” will be analyzed first. If the difference between SD-101 6% and placebo is statistically significant (p ≤ 0.05), then the study will be considered a success.
  • If the first endpoint is statistically significant, then “proportion of patients with target wound closure at month 3” will be analyzed and considered statistically significant at p ≤ 0.05.

Source: GlobeNewswire

According to Chief Medical Officer of Amicus Therapeutics, Dr. Jay Barth, “We believe that the planned analysis of the primary endpoints increases our overall likelihood for success in the Phase 3 ESSENCE study of SD-101 for epidermolysis bullosa. Time to Wound Closure accounts for wound healing across all study time points, offering greater precision for discriminating treatment effects and treatment differences between SD-101 and placebo. We have been very pleased with the collaborative interactions with the Dermatology Division of the FDA under our breakthrough therapy designation for SD-101. We look forward to announcing data from this study.”

Check out FOLD on the daily chart:

Source: TradingView


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