Diamonds and Dogs
Shire PLC (SHPG)
Shire is painting the tape green today, up 4.50% to $240.17. The large biopharmaceutical company saw its shares climb after announcing that it reached an agreement with the FDA for a clear regulatory path for SHP465, its ADHD drug for adults. Under the clear path, Shire has agreed to conduct short-term efficacy and safety trials, even within children although Shire is eyeing the adult market. The company expects the studies and pending approval to be completed by the second half of 2017. Shares of Shire rallied over $10.30 today but are still off of their 52-week high of $264.98.
Ocular Therapeutix Inc. (OCUL)
Ocular investors are not going to want to see their stock today, down 17.47% to $31.61. The eye disease biopharmaceutical company saw its shares tank after announcing its eye pain and inflammation treatment OTX-DP didn't meet one of its goals in a late-stage clinical trial. Ocular said that patients who received the implant after cataract surgery in its clinical trial experienced less pain than patients who received a sham implant. However there wasn't a significant difference in inflammation. Shares of Ocular fell nearly $7.00 today, but were able to hold up above their 52-week low of $11.90.