RPTP Raptor Pharmaceuticals – Impending Bullish Ascending Triangle Breakout

by Olivier on January 9, 2014

The Biotech sector still is one of the strongest sectors out there. A great looking stock would be RPTP – Raptor Pharmaceuticals which is setting up nicely here on the weekly chart. Bullish ascending triangle with is about to test the upper trend line and might continue to run if it manages to break out to the upside. I have a position.

Click chart to enlarge:

Company description from Yahoo finance:

Raptor Pharmaceuticals Corp. operates as a development stage biotechnology company in the United States. It engages in the research, manufacture, and commercialization of medicines to treat nephropathic cystinosis, non-alcoholic steatohepatitis (NASH), Huntington’s disease (HD), and aldehyde dehydrogenase deficiency (ALDH2). Its lead compound includes RP103, a capsule containing enteric coated micro-beads of cysteamine bitartrate that has completed Phase 3 trial for the treatment of cystinosis, is in Phase 2/3 trial for treating HD, and is in Phase 2b trial for the treatment of NASH. The company’ clinical development pipeline comprises RP104, an enteric coated tablet formulation of cysteamine bitartrate that has completed Phase 2 trail; and Convivia, a Phase 2 product candidate for the management of acetaldehyde toxicity due to ALDH2 deficiency. Its preclinical product candidates include HepTide for the treatment of primary liver cancer and other liver diseases; NeuroTrans to deliver therapeutics across the blood-brain barrier; and WntTide for the treatment of breast cancer. Raptor Pharmaceuticals Corp. is headquartered in Novato, California.

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