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MARKETS LIVE BLOG:

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Today’s Research Reports on Stocks to Watch: Puma Biotechnology and Achieve Life Sciences

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / June 27, 2018 / Biotech stocks Puma Biotechnology and Achieve Life Sciences soared in Tuesday's trading session after each company had positive developments. Puma rose after announcing that the European Medicines Agency was likely to give a positive opinion on its breast cancer drug, neratinib. Shares of Achieve headed higher after the company announced positive study results on cytisine which is being evaluated as an aid to smoking cessation.

RDI Initiates Coverage on:

Puma Biotechnology, Inc.
https://www.rdinvesting.com/report/?ticker=PBYI

Achieve Life Sciences, Inc.
https://www.rdinvesting.com/report/?ticker=ACHV

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Puma Biotechnology, Inc. shares closed up 24.36% on about 6.6 million shares traded yesterday. The stock saw big gains after traders learned that European regulators are willing to reverse course regarding their decision on the company's controversial breast cancer drug neratinib. Puma announced on Tuesday that the European Medicines Agency was likely to give positive opinion on the breast cancer drug. The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive trend vote recommending the approval of the Marketing Authorisation Application (MAA) for neratinib for the extended adjuvant treatment of early stage HER2-positive hormone receptor positive breast cancer. It's been roughly five months since the European regulators rejected neratinib during its first official review. According to Puma, the committee will hold a final vote at its next meeting. The U.S. Food and Drug Administration had granted approval for neratinib last year.

Access RDI's Puma Biotechnology, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=PBYI

Achieve Life Sciences, Inc. shares closed up a little over 34% on Tuesday on about 25.6 million shares traded. Average trading volume for the stock is just around 167,000 shares. The gain and rise in trading volume happened after the company announced positive study results on its product candidate cytisine when evaluated as a smoking cessation treatment option. Achieve says cytisine is a plant-based alkaloid which binds to the nicotinic acetylcholine receptor. According to the company's press release, "cytisine has no clinically significant interaction with any of the hepatic enzymes commonly responsible for drug metabolism nor clinically significant interaction with drug transporters. This suggests that cytisine may be administered with other medications without the need to modify the dose of the co-administered drug." Chief Scientific Officer of the company Anthony Clarke remarked, "We are very pleased with the results of these detailed studies. Smokers are as likely as anyone to take medications for a range of conditions. These results suggest that cytisine is unlikely to interfere with their ability to take other medications safely, and should help to minimize restrictions on the eligibility of subjects in our forthcoming clinical trials." Achieve plans to begin further clinical trials later this year.

Access RDI's Achieve Life Sciences, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=ACHV

Our Actionable Research on Puma Biotechnology, Inc. (NASDAQ: PBYI) and Achieve Life Sciences, Inc. (NASDAQ: ACHV) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com