Bellerophon Therapeutics LLC (NASDAQ: BLPH)
Bellerophon Therapeutics LLC (BLPH), a clinical stage therapeutics company, announced on Thursday positive data from an interim analysis of a Phase 2 long term study of the company’s lead candidate INOpulse. INOpulse is used for the treatment of Pulmonary Arterial Hypertension (PAH). This study was the second Part of the Phase 2 trial, and the data confirmed the results from Part 1 which showed that PAH patients that received the INOpulse therapy benefited from it.
Bellerophon Therapeutics LLC CEO’s Comments
Jonathan Peacock, Chairman and Chief Executive Officer of Bellerophon Therapeutics, stated,
“The interim analysis is very encouraging for PAH patients, as the data indicates a clinically significant and sustained benefit for patients on the higher iNO 75 dose, when combined with Long-Term Oxygen Therapy. More specifically, the analysis supports the hypothesis, generated from Part 1 of the Phase 2 study, that the optimal benefit of INOpulse is with the iNO 75 dose in patients on LTOT who stay on therapy for at least 12 hours each day. The SPA recently issued by the FDA for our Phase 3 program, and agreed to by the European Medicines Agency through a Scientific Advice Working Party, is well aligned with these findings.” Globe Newswire
BLPH Technical Analysis
BLPH gapped up in price on Friday to $5.80, up from the prior day’s close of $3.72, which is a 56% increase in price based on favorable news. Taking a look at the daily chart, we can see the last time the stock traded above this price level was back on August 19th when the stock reached highs of $5.95. Taking a further look back on the daily chart we can see the stock traded at $7.65 on July 24, only to tank all the way down to lows of $2.75 the next trading day, equivalent to a 64% drop in price. As we can see this stock can be very volatile in a single day of trading. The stock does have a low float of 4.29 million shares and is trading on heavy volume, over 24 times the normal daily trading volume. Both of these factors make the stock a good candidate for the gap and go strategy. The stock did reach pre market highs of $6.97 which means it gave back $1.17 at the open equivalent to a 17% drop. For trading purposes, my entry point would have been $6.00 looking for a run to pre market high levels. My stop loss would have been the gap up price of $5.80 fearing anything below that and the stock would start to fill in the gap up.
Bellerophon Therapeutics LLC, a clinical-stage therapeutics company, focuses on the development of various products for the treatment of cardiopulmonary and cardiac diseases. Its product candidates include INOpulse, a pulsatile nitric oxide delivery device, which has completed Phase II clinical trials for the treatment of pulmonary arterial hypertension, as well as in Phase II clinical trials to treat pulmonary hypertension associated with chronic obstructive pulmonary diseases; and bioabsorbable cardiac matrix, a medical device for the prevention of congestive heart failure. The company was formerly known as Ikaria Development LLC and changed its name to Bellerophon Therapeutics LLC in January 2014. Bellerophon Therapeutics LLC was founded in 2009 and is headquartered in Hampton, New Jersey. Yahoo Finance