Today’s BioHealth Business Daily has many names you might not be as familiar with, but there are some of the larger movers to consider today as well. We are seeing news-related moves in many stocks from Cell Therapeutics, Inc. (NASDAQ: CTIC), Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC), China Biologic Products, Inc. (NASDAQ: CBPO), Gentium S.p.A (NASDAQ: GENT), Genzyme Corporation (NASDAQ: GENZ), Idera Pharmaceuticals, Inc. (NASDAQ: IDRA), Novavax, Inc. (NASDAQ: NVAX), and Poniard Pharmaceuticals, Inc. (NASDAQ: PARD). Then there is the notion of Amgen Inc. (NASDAQ: AMGN) and Warner Chilcott plc (NASDAQ: WCRX) on an unrelated matter.
Included today is the news, the share move, relative performance and valuation data, and added in additional market color where applicable.
UPDATED FOR CLOSING BELL PRICES
Cell Therapeutics, Inc. (NASDAQ: CTIC) is continuing to see traders buy up the stock after Monday’s FDA denial implosion. Frankly, the moves higher here are becoming harder and harder to explain other than “trader sentiment” and the pesky minutes charts used by traders. This still seems to be more like “sell therapeutics” based on the news, but the move has actually been one of recovering losses. Shares have come well off the highs today but the stock is still up 8.7% at $0.697 on 53 million shares. UPDATE FOR CLOSE: shares closed up only 1.6% at $0.647 on 72 million shares.
Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC) reported last night that its Q4 net loss was $4.3 million or -$0.18 per share versus a net loss of $7.9 million or -$0.39 per share for Q4-2008. Shares are down 4.4% at $2.40 on only about 1.3 million shares. This one is too small for an earnings analysis. UPDATE FOR CLOSE: shares closed down 5.2% at $2.38 on 1.844 million shares.
China Biologic Products, Inc. (NASDAQ: CBPO), a Chinese player you may have never known, is one of the larger gainers in the sector today. The plasma-based biopharma reported last night that Q4 revenues increased 185.6% year-over-year to $37.6 million, and excluding Dalin, revenues rose 46.7% year-over-year to $19.3 million or 51.4% of total revenue. The company also showed that gross profit increased 208.6% year-over-year to $27.3 million. This is up 15% at $10.44 on almost 400,000 shares. The 52-week range is $1.69 to $13.70 and the average volume is only 135,000 shares for this $244 million market cap Chinese player. UPDATE FOR CLOSE: shares closed up 24% at $11.26 on 504,000 shares.
Gentium S.p.A (NASDAQ: GENT) is one of the biggest winners today of all sectors, not just biotech and biohealth. In a presentation data, its Defibrotide was shown to generate a 40% drop in the incidence of hepatic veno-occlusive disease in what was called high-risk pediatric patients within 30 days after stem cell transplant. Stem cells. Shares are up a whopping 56% at $2.82 on 2.8 million shares. Average volume is only about 50,000 shares and the 52-week range is $0.36 to $4.00 for the tiny $42 million market cap. UPDATE FOR CLOSE: shares closed up a whopping 77.5% at $3.23 on over 3.6 million shares.
Genzyme Corporation (NASDAQ: GENZ) effectively got the worst situation it could have for the troubled Allston plant. This FDA enforcement action may need a third-party inspection and review of plant operations for an extended period and will require payments to the government. The company believes that shipments out of the plant will continue on an uninterrupted basis, although it does not know the financial impact of the call yet. Shares are down more than 6% or down by $3.80 at $55.30 on 11.5 million shares. Unfortunately, its chart before today was starting to show something traders and investors might have thought was not this bad. UPDATE FOR CLOSE: shares closed down 6.4% at $55.33 on 14.5 million shares.
Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) is soaring on an analyst upgrade after the firm was raised to Market Outperform from Market Perform at Rodman & Renshaw. The price target is $10.00. That still implied as double, because this stock is up 9.25% at $5.54. The 231,000 shares compares to average volume of 35,000 shares and the 52-week range is $4.48 to $8.50. UPDATE FOR CLOSE: shares closed up 10% at $5.58 on 275,000 shares.
Novavax, Inc. (NASDAQ: NVAX) loves swine flu, or so its stock says. The stock is surging on positive results from a Phase I of its two-phase clinical study in Mexico for a H1N1 vaccine. Shares are up 11.5% at $2.61 on almost 6 million shares. Average volume is now back down to about 1.4 million shares per day. UPDATE FOR CLOSE: shares closed up 10.7% at $2.59 on over 6.7 million shares.
Poniard Pharmaceuticals, Inc. (NASDAQ: PARD) is down today after the company suspended its effort seeking regulatory approval for picoplatin in small cell lung cancer. The company announced that it has also hired the firm Leerink Swann to conduct a review of strategic alternatives, but many seem to doubt its value or worth after disappointments. This one is down 17.5% at $1.29 on almost 9 million shares. Shares hit $1.18 today, a 52-week low. UPDATE FOR CLOSE: shares closed down 16.8% at $1.30 on 10.19 million shares.
Amgen Inc. (NASDAQ: AMGN) and Warner Chilcott plc (NASDAQ: WCRX) have no news, but they are items you should consider today. An unrelated dividend story showing Starbucks initiated its first dividend ever has investors looking for which others might be next in line. At BioHealthInvestor.com, we have previously outlined why these may become next in line for dividends.
You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG