U.S. equities had their best day since 2015 as the dollar falls, due in part to trade war concerns beginning to ease. The S&P 500 Index skyrocketed 2.7%, the Dow Jones Industrial Average surged an even better 2.8% and the Nasdaq Composite has a day to remember, rising 3.3%.
Here’s how they did:
Aimmune Therapeutics Inc (AIMT)
Aimmune Therapeutics is making waves with a pill that could help deal with peanut allergies.
Although the medication doesn’t cure this allergy, it is an immunotherapy treatment that would help people who may be exposed to peanuts accidentally. The company’s study has been showing encouraging process recently.
The treatment would train the immune system of an allergic person to not react as severely if exposed to a small amount of peanut. Over time, the medication would desensitize patients to peanuts with increasing doses of the medication.
The Aimmune study looked at 29 patients with peanut allergies, who were given gradually strong doses over these peanut-flour pills over a six-month period. There was also a control group.
Then, people in both groups were exposed to about one and a half peanuts. From the group that had been taking the peanut pills, 79% exhibited no reactions to the allergen.
AIMT stock surged 3.2% on Monday, but remained flat after the bell.
AnaptysBio Inc (ANAB)
AnaptysBio is also seeing positive results with a peanut allergy medication.
The company’s stock has been on the rise due to positive preliminary results from a Phase 2a proof-of-concept clinical trial that examines lead drug ANB020 in adults with peanut allergies.
Patients who were suffering from moderate-to-severe symptoms were given a single intravenous dose of ANB020 46% (n=6/13) to patients. The allergies were tested with a food challenge where they were given peanuts.
Peanut tolerance improved once patients were given a cumulative 500 mg at day 14. ANB020 is an antibody that links up to the pro-inflammatory cytokine interleukin 33 (IL-33), a protein that’s key in atopic diseases, including asthma, food allergies and atopic dermatitis.
ANAB stock skyrocketed 12.5% after hours Monday.
SM Energy Co (SM)
SM Energy shares were rising as the company completed a sale.
The company said it completed the sale of the majority of its assets in the Powder River Basin, a move it had planned on doing for a few months. These assets were sold for roughly $500 million.
SM Energy adds that it forecasts that its first-quarter production will be at the high end of the company’s previous guidance, while its fiscal 2019 will experience significant production growth.
The company said its Permian Basin production topped expectations thanks to new completions that came on stronger than expected during the first two months of the quarter. Because of this, first-quarter production is slated to come closer to the upper end of the original outlook of 9.5 million to 10.5 million boe.
SM shares gained 2.3% after Monday’s market close.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.