Belite Delights Investors, Soleno, ADMA, Harrow Deliver Triple-digit Gains, Keep An Eye On Oculis

(RTTNews) - Warren Buffett, renowned as the "Oracle of Omaha," once remarked, "The stock market is a device for transferring money from the impatient to the patient." This observation holds significant relevance in the world of investing, where a long-term approach can sometimes yield impressive rewards. The following healthcare sector stocks that were featured on our site touched 52-week highs yesterday.

Oculis Holding AG (OCS)

Switzerland-based Oculis is a global biopharmaceutical company developing innovative medicines to save sight and improve eye care.

The company's lead investigational product is OCS-01, a topical eye drop for diabetic macular edema (DME) and treatment of inflammation and pain following cataract surgery. This product is under a phase III program in diabetic macular edema, dubbed DIAMOND-1 and DIAMOND-2.

Up next is OCS-02, a topical biologic anti-TNFa eye drop candidate for dry eye disease (DED) and non-infectious anterior uveitis. The company announced positive topline results from a phase 2b trial of OCS-02 in subjects with signs of DED, dubbed RELIEF, in June of this year.

Next in the pipeline is OCS-05, a disease-modifying candidate for acute optic neuritis (AON) and other neuro-ophthalmic disorders such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. A phase IIa proof of concept trial evaluating OCS-05 in patients with acute optic neuritis, dubbed ACUITY, is underway, with topline data anticipated this quarter.

OCS was featured on our site on March 19, 2024, when it was trading at $11.62. The stock touched a 52-week high of $15.50 yesterday, reflecting a gain of over 30% from our published price.

Belite Bio Inc (BLTE)

Belite Bio is a clinical-stage biopharmaceutical company developing novel therapeutics targeting retinal degenerative eye diseases.

The company's lead drug candidate is Tinlarebant, a novel oral therapy, intended to slow disease progression in patients affected with Stargardt Disease (STGD1) and Geographic Atrophy (GA) in advanced Dry Age-related Macular Degeneration (Dry AMD).

A pivotal global phase III trial of Tinlarebant in adolescent STGD1 subjects, dubbed DRAGON, is underway, with interim analysis expected to be shared this quarter.

We altered readers to BLTE on Apr.3, 2023, when it was trading at $30. The stock touched a 52-week high of $54.39 yesterday, indicating a rise of 81% from our published price.

CorMedix Inc. (CRMD)

CorMedix's lead product is DefenCath, a novel, antibacterial, and antifungal solution designed to prevent catheter-related bloodstream infections ("CRBSIs") in patients with end-stage renal disease receiving hemodialysis through a central venous catheter. It was approved by the FDA on November 15, 2023, and was commercially launched in inpatient settings in April 2024 and in outpatient settings in July 2024.

Yesterday, the company announced that it has entered into a new commercial supply contract with a top-five mid-sized dialysis operator for the supply of DefenCath to dialysis clinics in the US.

CRMD was featured on our site on Apr.12, 2023, when it was trading around $5.07. The stock hit a 52-week high of $9.79 yesterday, representing a gain of 93% from our published price.

Scholar Rock (SRRK)

Scholar Rock is a late-stage biopharmaceutical company developing innovative treatments for spinal muscular atrophy, cardiometabolic disorders, and other serious diseases.

The company's lead drug candidate is Apitegromab, a muscle-targeted therapy, being developed for patients with spinal muscular atrophy. It plans to submit a U.S. Biologics License Application and European Union marketing authorisation application seeking approval of Apitegromab for spinal muscular atrophy next quarter (Q1 2025).

Yesterday, Scholar Rock priced an upsized underwritten public offering of 10.27 million shares of its common stock at a public offering price of $28.25 per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase 353,983 shares of common stock at a public offering price of $28.2499 per pre-funded warrant. The offering is slated to close on Oct.10, 2024, and gross proceeds from it are expected to be approximately $300 million.

When SRRK was featured on our site on Sep.27, 2023, it was trading around $6.76. The stock touched a 52-week high of $35.38 yesterday, marking a gain of over 420% from our published price.

Revolution Medicines Inc. (RVMD)

Revolution Medicines is a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers. RAS is an oncogene and is mutated in close to 20% of all human cancers, playing a key role in tumor development and progression.

The company's lead drug candidate is RMC-6236, which is expected to advance into a pivotal, randomized, controlled phase III monotherapy study in the second-line (2L) treatment of patients with metastatic pancreatic ductal adenocarcinoma this year.

Initiation of a pivotal study of RMC-6236 monotherapy in previously treated patients with RAS-mutated NSCLC is also planned for this year.

RVMD was featured on our site on May 9, 2023, when it was trading around $24.17. The stock touched a 52-week high of $50 yesterday, which reflects a gain of 106% from our published price.

Soleno Therapeutics Inc. (SLNO)

Soleno is a clinical-stage biopharmaceutical company developing novel therapeutics for rare diseases. Its lead candidate is DCCR (Diazoxide Choline) Extended-Release tablets, a once-daily oral tablet for the treatment of Prader-Willi Syndrome.

DCCR is under priority review by the FDA, with a decision due on December 27, 2024.

When we alerted readers to SLNO on May 25, 2023, it was trading at $5.51. The stock touched a 52-week high of $56.81 yesterday, reflecting a gain of 931% from our published price.

ADMA Biologics Inc. (ADMA)

ADMA Biologics is an end-to-end commercial biopharmaceutical company manufacturing and marketing specialty biologics.

While reporting second-quarter results in August, the company provided its outlook for the full year 2024 and 2025.

For FY 2024, total revenue is projected to be more than $400 million while net income is expected to exceed $105 million. Looking ahead to 2025, total revenue is expected to be over $445 million, and net income is anticipated to be more than $155 million.

We alerted readers to ADMA on Feb.15, 2024, when it was trading at $5.36. The stock touched a 52-week high of $20.92 yesterday, which marks a gain of 290% from our published price.

Natera Inc. (NTRA)

Natera is a diagnostics company offering cell-free DNA testing, with a focus on oncology, women's health, and organ health.

The company anticipates 2024 total revenue of $1.49 billion to $1.52 billion and gross margin to be approximately 54% to 56%. The total revenue was $1.08 billion, and the gross margin was 45.5% in 2023.

We alerted our readers to NTRA on Dec.21, 2022, when it was trading around $41.75, and again on Aug.23, 2024, when it was trading around $122.82. The stock touched a high of $133.54 during intraday trading yesterday, before closing at $131.93.

Harrow Inc. (HROW)

Harrow is a commercial-stage eye care pharmaceutical company.

The second quarter ended June 30, 2024, marked a financial and operational turning point for Harrow, with revenues surging 46% compared to the same quarter last year and 42% over the previous quarter.

We featured HROW on our site on Feb.13, 2024, when it was trading at $11.32. The stock touched a 52-week high of $51.95 yesterday, translating to a substantial gain of 358% from our published price.

Travere Therapeutics Inc. (TVTX)

Travere is a biopharmaceutical company focused on developing drugs for rare kidney and rare metabolic diseases.

The company's flagship drug is Filspari, which was granted full approval as recently as last month to slow kidney function decline in adults with primary IgAN who are at risk of disease progression. The drug was granted accelerated approval in February 2023, and ever since its launch in the U.S. in February of 2023, the drug's quarterly sales have steadily climbed.

When we alerted readers to TVTX on Aug.14, 2024, it was trading at $8.91. The stock touched a 52-week high of $15.61 yesterday, representing a gain of 75% from our published price.