Life science stocks on the Uncapped 100 were in demand today as companies like Starpharma Holdings (SPL) and GI Dynamics (GID) gave investors reason to cheer.
Starpharma enjoyed its best one-day gain in over two months of 5% to $1.05 when the biotech released news that its dendrimer technology proven successful in improving the tumour-inhibiting efficacy and lowering toxicity of blockbuster cancer drug, oxaliplatin.
The cancer treatment is owned by Sanofi, and this improvement could lead to a lucrative licensing deal with the pharmaceutical giant.
Starpharma’s dendrimer technology can be used to improve the performance of a wide range of chemicals and oxaliplatin is the third cancer treatment that has been improved by Starpharma’s offering.
Intestinal liner developer GI Dynamics was also in demand today with the stock jumping 3% to a more than one-year high of 87 cents.
Management said yesterday that the well regarded Association of British Clinical Diabetologists is starting and funding a trial of GI Dynamics EndoBarrier device in patients with type-2 diabetes and obesity.
GI Dynamics is still some ways from its $1.10 initial public offer price, but it is trending in the right direction and is up close to 50% since our write up in July.
Starpharma has also done well since we highlighted its prospects in the same article, and the stock has gained 8% since.
Both stocks are part of the Uncapped 100.