Array Biopharma Inc (NASDAQ:ARRY) continues to edge higher in the market as traders react to reports that the FDA has accepted an application for the company’s candidate drug Binimetinib for the treatment of NRA-mutant melanoma. The stock soaring by more than 90% over the past one month does not come as a surprise given that more than 20% of melanoma patients have the NRAs mutation.  The addressable market for the drug is one of the things that seem to have bolstered investor sentiments on the stock. Last year alone more than 76,000 patients were diagnosed with the condition which means the company is on course to generate a significant amount of revenue on it upon approval next year June. In the meantime, looks like this NEW red hot play in the healthcare space is about to storm WallStreet. The float is tiny (10M s-hares). Recent volume is surging. So are the company’s opportunities, including penetration into a$35 bln new market segment. All moving averages are below the current price and turning upward. And we see no overbought signs yet on the current breakout move. Click to Read More about this new company.

Is Novavax, Inc. (NASDAQ:NVAX) Oversold?

Novavax, Inc. (NASDAQ:NVAX) shedding more than 70% in market value on its RSV candidate failing to meet pre-specified efficacy objectives is now a point of discussion on Wall Street. A point of concern among investors is whether the Street has overreacted given the amount of cash on the company’s balance sheet as well marketable assets. Taking into consideration the company’s works on infectious disease vaccines some investors believe the stock should not be trading at current levels. The company is currently working on a seasonal flu vaccine as well as a mid-stage trial for influenza vaccine. However, the rate at which Novavax is burning cash on its advanced programs could as well have spooked some investors.

Palatin Technologies, Inc. (NYSEMKT:PTN) Range Bound After Q4 Loss

Palatin Technologies is struggling to move above the $0.53 and $0.60 trading range after posting a net loss of $13.4 million in the fourth quarter. A bearish tone around the stock appears to be forming given that the company appears to be burning more cash than it is generating. Fuelling further investor concerns on the stock is the fact that the biopharmaceutical company did to report any revenues for the fourth quarter and full year ended June 30, 2016. Expenses in the quarter stood at $12.7 million compared to $11.8 million for the same period last year. Palatin Technologies, Inc. (NYSEMKT:PTN) stock is now in dire need of new news if it is move above the current trading range ahead of its $0.90 a share 52-week high.