Aratana Therapeutics, Inc. (NASDAQ: PETX)
Aratana Therapeutics, Inc. (PETX), a development stage biopharmaceutical company yesterday announced that the FDA’s Center for Veterinary Medicine approved their drug Galliprant. Galliprant is used to control pain and inflammation in dogs with osteoarthritis. Galliprant is expected to be available by the fall of 2016 to veterinarians.
Aratana Therapeutics, Inc. CEO’s Comments
“As the first approved product in the new piprant class, Galliprant offers veterinarians a needed therapeutic option for the millions of dogs treated each year for osteoarthritis,” explains Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. “Clinical studies have shown Galliprant offers proven efficacy when compared to placebo and is well-tolerated in dogs.” PR Newswire
PETX Technical Analysis
PETX opened trading yesterday at $4.45 and climbed up to close trading at $5.19, equivalent to a 17% increase in price. After closing PETX continued to climb up to $5.47 a 5% increase from the closing price. Taking a look at the daily chart we can see the last time PETX traded above this price level was on December 31st when it traded at $5.58. Taking a closer look at the daily chart we can see that PETX has been climbing off of its 52 week low price of $2.56 which was reached on February 12th. PETX has a float of 29.75 million shares and traded almost 5 times the normal daily trading on Monday. For trading purposes, I would like to see the stock open above $5.00 tomorrow. If PETX can open above $5, I would be looking to take a long position at the bell. My stop loss would have been $0.20 from my entry position, fearing anything below that and the stock would start to give back its gains.
Aratana Therapeutics, Inc., a development-stage biopharmaceutical company, focuses on the licensing, development, and commercialization of biopharmaceutical products for the companion animals worldwide. Its product portfolio includes various therapeutic candidates consisting of small molecule pharmaceuticals and large molecule biologics that target various opportunities in serious medical conditions in pets. The company develops AT-001, a prostaglandin E2 EP4 receptor antagonist, to treat osteoarthritis pain and inflammation in dogs, as well as degenerative joint disease in cats; AT-002, a ghrelin agonist for appetite stimulation in dogs, as well as for weight gain in cats and dogs; AT-003, a bupivacaine liposome injectable suspension for the treatment of post-operative pain in dogs and cats; AT-004, a caninized monoclonal antibody for the treatment of B-cell lymphoma in dogs; and AT-005, a caninized monoclonal antibody for the treatment of T-cell lymphoma in dogs. It also develops AT-014, a novel her2/neu-directed cancer immunotherapy for the treatment of canine osteosarcoma and other cancers in dogs; AT-016 that provides long-term relief of pain and disability caused by osteoarthritis through regeneration of joint damage in dogs; and AT-018, an oral CRTH2 antagonist for the treatment of atopic dermatitis in dogs. In addition, the company develops products for the treatment of lymphoma and other cancers in multiple species, canine allergy, feline calicivirus, feline herpesvirus, feline immunodeficiency virus, and periodontal disease. Aratana Therapeutics, Inc. was founded in 2010 and is headquartered in Leawood, Kansas. Yahoo Finance