[Business Wire] BIND Therapeutics Inc (NASDAQ:BIND)(TREND ANALYSIS) announced that patient dosing is underway in the iNSITE 2 trial, a global, phase 2, two-stage clinical trial of BIND-014 in patients with four tumor histologies. These diseases (cholangiocarcinoma [bile duct cancer], advanced cervical cancer, advanced bladder cancer, and advanced squamous cancer of the head and neck) each affect fewer than 200,000 patients in the U.S., making investigational drugs for these diseases candidates for orphan drug designation by the U.S. Food and Drug Administration. Stage 1 data readout for the iNSITE 2 trial is expected in the first half of 2016.
“The dosing of the first patient in the iNSITE 2 trial further expands the clinical development opportunities of BIND-014,” said Hagop Youssoufian, M.Sc., M.D., chief medical officer at BIND Therapeutics. “It also represents a new milestone for the first targeted nanoparticle to enter the clinic by utilizing a rigorous biomarker program that can become a useful aid for more reliable patient selection in the future. The orphan tumor types that we have chosen for iNSITE 2 are all cancers with high unmet need and limited treatment options, representing potential opportunities for rapid development. Our choice was also guided by the activity seen with BIND-014 in our phase 1 trial and the historical role of docetaxel in treating these tumors.”
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BIND Therapeutics Inc (NASDAQ:BIND) stock is currently trading 54.23% below its 52-week-high, 20.29% above its 52-week-low. The 1-year stock price history is in the range of $4.09 – $10.75. BIND Therapeutics Inc (BIND) has a price to book ratio of 2.98. BIND stock price has underperformed the Nasdaq by 10.8%. The Biotechnology company is currently valued at $0.1 billion and its share price closed the last trading session at $4.92. The stock has a 50-day moving average of $4.69 and a 200-day moving average of $5.67.
BIND Therapeutics Inc (BIND) current short interest stands at 0.93 million shares. It has decreased by 1% from the same period of last month. Around 9% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.13 million shares, the number of days required to cover the short positions stand at 7.2 days.
BIND reported last quarter earnings on August 06. The Biotechnology company announced earnings per share of $-0.51 against a consensus Street estimate of $-0.49, missing estimate by $0.02. This corresponds to a flat EPS compared to the same quarter of the previous fiscal year.
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There are currently four analysts that cover BIND Therapeutics Inc stock. Of those four, four have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $17.33.
A recent analyst activity consisted of Oppenheimer who initiated their coverage on the stock with Outperform rating on April 7. Oppenheimer fixed their price target at $14. This corresponds to a 184.55% upside from the last closing price. On the date of report, the stock closed at $6.32.
BIND Therapeutics, Inc provides clinical-stage nanomedicine platform. The Company develops targeted and programmable therapeutics to active pharmaceutical ingredients in diseased tissues.