We are seeing many key movers in the BioHealth space today. Biotech stocks and drug stocks are often more volatile than other sectors. Today’s BioHealth Business Daily includes the key moves and news seen in Abraxis BioScience, Inc. (NASDAQ: ABII), StemCells Inc. (NASDAQ: STEM), Xenoport, Inc. (NASDAQ: XNPT), Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX), Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI), Eli Lilly & Co. (NYSE: ELY), GTX Inc. (NASDAQ: GTXI), Shire plc (NASDAQ: SHPGY) and Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ).
We have included the moves as they have been seen in late-morning trading as well the news and a link to more data on each were applicable if these were more broad stories.
Abraxis BioScience, Inc. (NASDAQ: ABII) is scoring a win in the war against lung cancer. Its ABRAXANE showed high promise in combination with existing treatments for lung cancer in key Phase III studies. In late-morning trade, Abraxis is up over 28% at $21.18 and it hit a high of $54.03 today. We have already seen 5-times normal volume.
StemCells Inc. (NASDAQ: STEM) is up on news of a rat model patent award in the UK. This is apparently a novel stem cell patent despite the animal model. Shares are up 2.5% at $1.24 and we have already seen almost 2 million shares trade versus a 2.1 million share average day.
Xenoport, Inc. (NASDAQ: XNPT) is up 4.5% at $9.57 on no real news seen. Xenoport is the one that was clocked last month after failing to win FDA support of its restless leg syndrome and after half of its workforce was forced into national employee morale day for layoffs. Still, if news is out we haven’t seen it today.
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) took a beating of almost 10% to close at $1.28 yesterday due to its large securities offering. Shares have recouped over 2% of that today and the stock is at $1.31 on already 150% of normal trading volume.