Today’s Research Reports on Stocks to Watch: Heat Biologics Inc. and Esperion Therapeutics
Heat Biologics was one of the biggest winners in the market on Wednesday after the company announced that its subsidiary Pelican Therapeutics received a substantial first tranche in a grant award that will help the company towards a critical Phase 1 clinical trial that combines PTX-25, its leading antibody, with other immune-oncology drugs. Shares of Esperion also soared higher and hit a new high. The company received FDA approval earlier in the week to begin a phase III bridging study.
RDI Initiates Coverage on:
Heat Biologics, Inc.
Esperion Therapeutics, Inc.
Heat Biologics, Inc. shares saw a massive breakout on Wednesday, closing up 24.44%. The leader in the development of novel therapies designed to activate a patient’s immune system against cancer, announced that its subsidiary Pelican Therapeutics, has received the first tranche of its $15.2 million grant award from the Cancer Prevention and Research Institute of Texas. CEO Jeff Wolf commented, "We have made significant progress in advancing PTX-25, our lead antibody, towards the clinic, having completed key milestones, including epitope mapping, affinity maturation and antibody development studies." He went on to say, "We are pleased that Pelican has received the first tranche of its CPRIT award, which provides non-dilutive funding to cover costs of IND-enabling studies towards a comprehensive, 70-patient Phase 1 clinical trial combining PTX-25 with other immune-oncology drugs." It was back in March that Heat announced it had entered into a definitive agreement with the holders of 75.5% of the outstanding capital stock of Pelican Therapeutics, Inc. to acquire an 80% controlling interest in Pelican.
Access RDI’s Heat Biologics Research Report at:
Esperion Therapeutics, Inc. shares closed up 10.38% on Wednesday and hit a new high of $49.69. The week has been treating Esperion especially good. It was Monday that the company received FDA approval to begin a phase III bridging study of an already ongoing study of bempedoic acid, which is being developed by Esperion for lowering LDL cholesterol in statin intolerant patients. The stock also received a "buy" rating that day from Stifel Nicolaus. On Tuesday, the stock saw considerable volume traded compared to usual. Then yesterday it hit a new 52-week high. All in all a very good week for Esperion traders. Since June 20th shares of ESPR have climbed from $34.37 to $49.69 for a gain of 44%.
Access RDI’s Esperion Therapeutics Research Report at:
Our Actionable Research on Heat Biologics, Inc. (NASDAQ: HTBX) Esperion Therapeutics, Inc. (NASDAQ: ESPR) can be downloaded free of charge at Research Driven Investing.
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