Yesterday, Spark Therapeutics, Inc (NASDAQ:ONCE) saw a 35% decline. This was due to an increased negative sentiment for the stock. At the American Society of Hematology’s (ASH) annual meeting, ONCE presented rather disappointing data on their trials of their experimental drug to treat Hemophilia-A. Spark’s data showed that though its therapy reduced bleeding, the drug showed smaller increases in levels a clotting protein that patients with hemophilia are missing, as compared to its competitor BioMarin’s drug for the same.
However, the news may not be conclusively negative for the stock since researchers believe that the study was small, and optimum dosage levels have not yet been determined. Analysts are still bullish about the stock on the long term. ONCE’s Relative strength rating is around 80, and though the earnings growth has decreased last quarter, the revenue gains have moved higher from 15% to 46%. Stockal’s Confidence Meter is 79% and has been above 75% for the last two months.
Spark Therapeutics has another review lined up for its drug Voretigene neparvovec (SPK-RPE65) on 12th Jan 2018. Check out Stockal for more Information.
