Icagen, Inc. (ICGN)

Today, Penny Stock DD reported on Icagen, Inc. (ICGN), Greenbackers did earlier, and we highlight the Company as “One to Watch” next week, here at the QualityStocks Daily Newsletter.

Icagen, Inc., a biopharmaceutical company, focuses on discovering, developing, and commercializing novel small molecule drugs that modulate ion channel targets. The Company has developed an integrated technology platform that enables the efficient discovery of drug leads. Trading on the NASDAQ Global Market, Icagen, Inc. has their corporate headquarters in Durham, North Carolina.

Ion channels are protein structures found in nearly every cell of the human body. These channels span the cell membrane and regulate the flow of ions, charged particles such as sodium, potassium, calcium and chloride, into and out of cells. Currently, there are 35 drugs that modulate ion channels, which are marketed by third parties for multiple therapeutic indications.

Icagen utilizes a target class approach to ion channel drug discovery. The Company first starts with all potential ion channel targets, then seeks to identify applications to treat various diseases. They believe this approach provides for a more efficient drug discovery process. If a small molecule demonstrates activity in the animal model, the target is considered validated and the Company initiates further medicinal chemistry efforts.

Icagen’s first-in-class drug candidates target specific ion channels across a wide range of therapeutic areas. With their compound ICA-105665, the Company is currently conducting proof-of-concept studies in patients with photosensitive epilepsy and in volunteers subject to mildly painful stimuli. The Company also has several compounds in preclinical development and many more in their discovery pipeline.

Key components of the Company’s strategy include continued focus on ion channels as drug targets, and strengthening their core ion channel drug discovery technologies. They are also working to build and advance their product candidate pipeline, and to establish strategic alliances with leading pharmaceutical companies.

In addition, Icagen, Inc. is expanding their development expertise. They plan to further augment their development team by adding additional personnel with experience in drug safety, regulatory affairs, statistical methods, project management, and medical affairs as they advance their product candidate pipeline. They are also working to establish specialized sales and marketing capabilities.

We’re watching Icagen, Inc. (ICGN), and we’re tracking them on our radar screens as “One to Watch” next week, here at the QualityStocks Daily Newsletter.

Icagen, Inc. (ICGN) closed today’s session at $0.90 down 7.25 percent. Volume was 733,103.