Actinium Pharmaceuticals Inc (ATNM) Stock is Up Big After FDA Clears Filing for Iomab-B

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Actinium Pharmaceuticals Inc (NYSEMKT:ATNM) is currently developing alpha particle linked antibodies to help treat cancer. Some of these drugs that they are currently developing include Actimab-A which is currently in Phase I/II clinical trials, and Iomab-B which has just received some great news from the U.S. Food and Drug Administration (FDA), causing the stock to soar in morning trading.

The FDA has just cleared Actinium Pharmaceuticals Inc.’s (NYSEMKT:ATNM) IND filing for Iomab-B which will now allow the company to move forward with Phase III clinical trials sometime during the first two quarters of 2016.

“The clearance of the IND for Iomab-B is a major milestone for Actinium Pharmaceuticals,” said Kaushik Dave, Ph.D., MBA, Chief Executive Officer of Actinium Pharmaceuticals, Inc. “Our team has worked extremely hard this year to prepare our IND filing with significant focus being placed on our Chemistry, Manufacturing and Controls efforts. With the IND now cleared, we are eager to ramp up our clinical development activities related to the pivotal, Phase 3 Iomab-B trial.”

The stock is up 16.32% or $0.31 following the news, hitting $2.21 per share. About 2.18M shares traded hands or up 464.20% from the average. ATNM has declined 24.30% since May 14, 2015 and is currently downtrending. It has underperformed the S&P500 by 21.68%.

The institutional sentiment decreased to 0.65 in Q2 2015. It’s down 0.23, from 0.88 in 2015Q2. The ratio dived, as 13 funds sold all their Actinium Pharmaceuticals Inc shares they owned while 7 reduced their positions. 3 funds bought stakes while 10 increased their total positions. Institutions now own 7.12 million shares which is 192.34% more than the previous share count of 2.44 million in 2015Q2.

Dafna Capital Management Llc holds 0.16% of its total portfolio in Actinium Pharmaceuticals Inc, equating to 90,000 shares. Bridgeway Capital Management Inc owns 160,200 shares representing 0.01% of their total US portfolio. Moreover, Vanguard Group Inc has 0.01% of their total portfolio invested in the company, equating to 5.63 million shares. The New York-based American International Group Inc has a total of 0% of their portfolio invested in the stock. Balyasny Asset Management Llc, a Illinois-based fund reported 11,100 shares owned.

Actinium Pharmaceuticals, Inc. is a biopharmaceutical firm engaged in developing therapies for diseases using its alpha particle immunotherapy (APIT) platform and other related technologies. The company has a market cap of $92.86 million. The Company’s products include Actimab-A, an antibody-drug construct containing actinium 225 (Ac-225), and Iomab-B, an antibody-drug construct containing iodine 131 (I-131). It currently has negative earnings. As of December 31, 2014, Actinium’s Actimab-A was in human clinical trials stage for acute myeloid leukemia (AML) and Iomab-B in clinical trial stage for use in myeloconditioning for hematopoietic stem cells transplantation (HSCT) in various indications.

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