Investing Ideas: Tuesday's NASDAQ Top Percentage Gainers; (KYTH), (NPSP), (AXTI), (MOBI)
Biopharma Stock (KYTH) Leads Gainers
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Visit: Kythera Biopharmaceuticals Inc.
March 19, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top percentage gainers on the NASDAQ for March 19th, 2013.
Kythera Biopharmaceuticals Inc., (NASDAQ:KYTH) trading at $22.37 gained $2.36 or 11.79% on a volume of 50,302 shares, making it today's top percentage gainer on the NASDAQ.
NPS Pharmaceuticals Inc., (NASDAQ:NPSP) trading at $9.97 moved up $0.93 or 10.29% on a high volume of 7,246,027 shares.
NPS Pharmaceuticals Inc. earlier today announced it is regaining the overseas marketing rights to its bowel drug Gattex and another product from Japanese drug maker Takeda
NPS is regaining rights to develop and sell the short bowel syndrome drug Gattex, which is also called Revestive, as well as a hormone drug called Preotact, in all countries. Preotact is approved in Europe as a treatment for post-menopausal osteoporosis, and NPS is trying to get it approved in the U.S. as a treatment for hypoparathyroidism under the name Natpara.
Takeda Pharmaceutical Co. had the right to develop and market the drug in most countries other than the U.S. Takeda will get $50 million in NPS stock, and it can get a milestone payment of $30 million the first year that combined sales of the drugs exceed $750 million. NPS can choose to make that payment in cash or stock.
AXT Inc., (NASDAQ:AXTI) trading at $3.33 rose by $0.24 or 7.62% on a volume of 445,926 shares.
AXT, Inc. stocks rose this morning after RF Micro Devices, a manufacturer of radio frequency solutions, announced a change in its sourcing strategy for a certain type of substrate. RF Micro Devices announced earlier today that it is shifting its sourcing strategy for Gallium Arsenide, or GaAs, solutions by phasing out manufacturing in a U.K. facility and moving most GaAs manufacturing to its facility in Greensboro, NC. RFMD specifically added it will partner with "leading GaAs HBT foundries" for added capacity, though did not name its intended partners. AXT develops and produces substrates made from gallium arsenide, as well as indium phosphide and germanium, according to its corporate profile.
Sky-mobi Limited (NASDAQ:MOBI) trading at $2.00 gained $0.11 or 5.82% on a volume of 86,912 shares.
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