24/7 Wall St. » CADX

24/7 Wall St. Closing Bell (GMCR, LULU, NLY, M, HSY, CYAN, GSL, IVN, JCP, LOW, ZBB, DQ, BXG, PAY, SHZ, CADX, JKS)

Paul Ausick — Mon, 14 Nov 2011 21:05:08 +0000

Shares only briefly broke above last week’s close today, as decliners outnumber gainers by about 4 to 1 in the late afternoon. Tech stocks held up fairly well early as news of Warren Buffet’s buy of IBM stock probably boosted sentiment for tech shares. By early afternoon, though, even the tech-heavy NASDAQ by more than 20 points. Crude oil fell below $95/barrel before coming back to just over $98/barrel, about $1/barrel below the opening price. Gold is also down slightly and the euro is down against the dollar. Financials have lost the most today, about 2.45% an hour before closing.

The unofficial closing bells put the DJIA down more than 74 points to 12,079.29 (-0.61%), the NASDAQ fell more than 21 points (-0.80%) to 2,657.22, and the S&P 500 fell -0.94% or nearly 12 points to 1,251.88.

There were several analyst upgrades and downgrades today, including Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) cut to ‘hold’ at Argus. Other changes included Lululemon Athletica Inc. (NASDAQ: LULU) reiterated ‘neutral’ with a $59 price target at Credit Suisse; Annaly Capital Management, Inc. (NYSE: NLY) started as ‘overweight’ at JPMorgan; Macy’s Inc. (NYSE: M) named ‘Bull of the Day’ at Zack’s; and Hershey Co. (NYSE: HSY) cut to ‘hold’ at Argus.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Cyanotech Corp. (NASDAQ: CYAN) is up more than 9% at $5.50; Global Ship Lease Inc. (NYSE: GSL) is down almost -17% at $1.75; Ivanhoe Mines Ltd. (NYSE: IVN) is up more than 2% at $21.03; J.C. Penney Co. (NYSE: JCP) is down almost -3% at $32.93; Lowe’s Companies Inc. (NYSE: LOW) is up more than 1.5%, at $23.49; and ZBB Energy Corp. (AMEX: ZBB) is down about -7.5%, at $0.71.

Several other standouts from today are as follows…

Daquo New Energy Corp. (NYSE: DQ) is down about -3%, at $2.73. The company makes wafers for solar PV cells and badly missed expected earnings. Net margins have fallen from 36.3% in the same period a year ago to 20.3%.

Bluegreen Corp. (NYSE: BXG) is up more than 44%, at $2.94. The resort time-share company has agreed to be acquired by BFC Financial Corp. (OTC: BFCF) for shares of BFC valued at $4.56.

Verifone Systems Inc. (NYSE: PAY) is up nearly 8%, at $44.03. Verifone has agreed to acquire a Norwegian company that is the largest provider of payment and gateway services in northern Europe. The price totals about $815 million, including debt.

China Shen Zhou Mining & Resources, Inc. (NYSE: SHZ) is up more than 18%, at $2.57. The company, which is China’s leading producer of fluorite, reported that it had nearly doubled revenues in the third quarter compared to the same period a year ago.

Cadence Pharmaceuticals, Inc. (NASDAQ: CADX) is down nearly -22%, at $3.97, after posting a new 52-week low of $3.95 earlier today. The company announced a $75 million secondary stock offering this morning.

JinkoSolar Holding Co. Ltd. (NYSE: JKS) is down more than -13%, at $6.75. The solar panel maker significantly reduced shipment and revenue forecasts for the third quarter.

Stay tuned for Tuesday. St. Louis Federal Reserve Bank president James Bullard and Chicago Fed president Charles Evans are giving speeches in the morning. Three other Fed presidents are also speaking tomorrow. Here’s a list of other noteworthy events (all times Eastern):

7:45 a.m. – ICSC-Goldman Sachs store sales report
8:30 a.m. – Producer price index released
8:30 a.m. – October retail sales
8:30 a.m. – Empire State manufacturing survey
10:00 a.m. – Business inventories

Paul Ausick

Filed under: Analyst Calls, HI/LOW, Market Close Tagged: BXG, CADX, CYAN, DQ, GMCR, GSL, HSY, IVN, JCP, JKS, LOW, LULU, M, NLY, PAY, SHZ, ZBB

Short Seller Swarm: Highest Days To Cover (CADX, DMND, TSLA, OMEX, PACR, MNKD, WAVX, ENER, NTRI, ZIXI, MR, ZZ, RCI, MNI, HGG, AM, BPI, LTM)

Administrator — Tue, 27 Sep 2011 15:13:51 +0000

Many investors track the largest increase in short selling, but there is another crucial way to look at short interest: the days to cover often tells just how actively shorted a stock is, as does a large percentage of its float. More importantly, these often represent a longer-term bias by the trading community. We have tracked the NASDAQ and NYSE short interest data today to screen for companies with the highest days to cover ratios (all are over one months of trading volume). We also looked for a high percentage of its shares outstanding or its float to be in the short interest. Almost all of these also had an increase in the period from August 31 to September 15 settlement dates.

The NASDAQ stocks which fit this bill are as follows: Cadence Pharmaceuticals, Inc. (NASDAQ: CADX); Diamond Foods, Inc. (NASDAQ: DMND); Tesla Motors, Inc. (NASDAQ: TSLA); Odyssey Marine Exploration, Inc. (NASDAQ: OMEX); Pacer International, Inc. (NASDAQ: PACR); MannKind Corporation (NASDAQ: MNKD); Wave Systems Corporation (NASDAQ: WAVX); Energy Conversion Devices, Inc. (NASDAQ: ENER); NutriSystem Inc. (NASDAQ: NTRI); and Zix Corporation (NASDAQ: ZIXI).

The NYSE stocks which fit this bill, except for one, are as follows: Mindray Medical International (NYSE: MR); Sealy Corporation (NYSE: ZZ); Rogers Communication, Inc. (NYSE: RCI); The McClatchy Company (NYSE: MNI); HHGregg, Inc. (NYSE: HGG); American Greetings Corporation (NYSE: AM); Bridgepoint Education, Inc. (NYSE: BPI); and Life Time Fitness (NYSE: LTM).

We only looked at companies with an average volume of more than 250,000 shares and have added some loose color on these if applicable.

Filed under: Short Interest, Trading Alert Tagged: AM, BPI, CADX, DMND, ENER, HGG, LTM, MNI, MNKD, MR, NTRI, OMEX, PACR, RCI, TSLA, WAVX, ZIXI, ZZ

M&A Watch: Biotech Deals Keep Rolling, Who Is The Next Buyout Target? (TEVA, VRX, CEPH, CRA, ALXN, DNDN, CBST, HGSI, UTHR, CADX, AMAG, SGMO)

Administrator — Mon, 02 May 2011 23:46:51 +0000

Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) has trumped Valeant Pharmaceuticals International, Inc. (NYSE: VRX) after it agreed to acquire Cephalon Inc. (NASDAQ: CEPH) in a $6.8 billion deal. The merger will give the mostly-generic Teva a portfolio of candidates in biotech drugs targeting cancer, pain, inflammatory diseases and more.

Teva’s $81.50 offer per share in cash may seem like a low premium of only about 6% to the closing price on Friday, but this is about 12% higher than Cephalon’s earlier $73 per share offer. More importantly, this is nearly a 40% premium to Cephalon’s pre-merger offers. The boards of directors of Teva and Cephalon have each voted in favor of this merger. What we are most curious about is simple… Which biotech and small pharmaceutical companies will be next to be acquired?

Celera Corporation (NASDAQ: CRA) is one we felt made sense for genomics, particularly when you consider that so much of Celera was raw cash. At that time of the deal, we also updated several other genomic possible targets.

Cephalon was noted as a possible buyout target even back at the end of January, and we gave a list with explanations on each of the following and more: Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN); Dendreon Corporation (NASDAQ: DNDN); Human Genome Sciences, Inc. (NASDAQ: HGSI); Cubist Pharmaceuticals Inc. (NASDAQ: CBST); United Therapeutics Corporation (NASDAQ: UTHR); Cadence Pharmaceuticals Inc. (NASDAQ: CADX); AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG); and Sangamo Biosciences Inc. (NASDAQ: SGMO). Details with explanations on that full list here.

Foreign buyers have an advantage of preying on US companies due to the incredibly weak U.S. Dollar and drug companies are looking to bolster sagging drug pipelines. The deals will continue, but the real risk for biotech investors is that there will be very few quality companies with real earnings left to invest in.

Not all of these other companies will be acquired. Some are too expensive though others offer a buyer a significant pipeline and emerging drug boost… for those willing to pay up.

JON C. OGG

Filed under: Biotech, Drug companies, Mergers and Buy Outs, Pharmaceuticals, Rumors Tagged: ALXN, ANAG, CADX, CBST, CEPH, CRA, DNDN, HGSI, SGMO, TEVA, UTHR, VRX

Today’s Top Stock Movers & Shakers (BP, CADX, FSIN, GRMN, OPEN, Q, SONS, TGB, WYNN)

Administrator — Wed, 03 Nov 2010 12:59:37 +0000

Active traders and day traders have many stocks to choose from this Wednesday morning. We are tracking news and moves in shares of BP plc (NYSE: BP), Cadence Pharmaceuticals Inc. (NASDAQ: CADX), Fushi Copperweld, Inc. (NASDAQ: FSIN), Garmin Ltd. (NASDAQ: GRMN), OpenTable, Inc. (NASDAQ: OPEN), Qwest Communications International Inc. (NYSE: Q), Sonus Networks, Inc. (NASDAQ: SONS), Taseko Mines Ltd. (AMEX: TGB), and Wynn Resorts Ltd. (NASDAQ: WYNN)

BP plc (NYSE: BP) is up after Goldman Sachs raised it to BUY. Shares are up 3.2% at $42.74. What is most important about this morning is that this is the highest price in the stock after the backlash of the Deepwater Horizon disaster in the Gulf of Mexico.

Cadence Pharmaceuticals Inc. (NASDAQ: CADX) is down despite its Ofirmev winning FDA approval in fevers and pain treatment. Shares are down 10.6% at $8.02.

Fushi Copperweld, Inc. (NASDAQ: FSIN) is going private with an offer of $11.50 per share; shares are up 24% at $11.29.

Garmin Ltd. (NASDAQ: GRMN) is getting hit as secular trends against it showed up in its earnings report; Garmin shares are down 8.2% at $30.30.

OpenTable, Inc. (NASDAQ: OPEN) is soaring after beating earnings and if this holds it will mark a new high… The shares are up 15.7% at $71.06 versus a 52-week trading range of $24.20 to $70.45.

Qwest Communications International Inc. (NYSE: Q) is up after beating profit expectations and noting that its CenturyLink merger will still close. Shares are up 2.4% at $6.83.

Sonus Networks, Inc. (NASDAQ: SONS) said that its latest quarter posted a loss as revenue fell; shares were down 12% earlier but now shares are down ‘only’ 7.5% at $2.96 in active pre-market trading.

Taseko Mines Ltd. (AMEX: TGB) is not a routine name covered, but Canada blocked one of its mining projects; shares are down a whopping 31% at $4.47 on over 1 million shares in the pre-market.

Wynn Resorts Ltd. (NASDAQ: WYNN) is down after earnings met expectations. The $8 special dividend may be holding the shares up more, but shares are down 3.35% at $108.80 in active pre-market trading.

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

Filed under: Pre-Market Activity, Trading Alert Tagged: BP, CADX, FSIN, GRMN, OPEN, Q, SONS, TGB, WYNN

BioHealth Business Daily (ACUR, AMLN, BIIB, ELN, CADX, CYCC, HGSI, MIPI, PRAN, RNN, SQNM)

Administrator — Tue, 20 Apr 2010 19:14:26 +0000

Today’s version of the BioHealth Business Daily is again full of stocks on the move with news, and some not on news. Array BioPharma, Inc. (NASDAQ: ARRY), BioDelivery Services International Inc. (NASDAQ: BDSI), Biogen Idec Inc. (NASDAQ: BIIB), Biosante Pharmaceuticals, Inc. (NASDAQ: BPAX), CytRx Corporation (NASDAQ: CYTR), Human Genome Sciences, Inc. (NASDAQ: HGSI), Neuralstem, Inc. (AMEX: CUR), and Prana Biotechnology Ltd. (NASDAQ: PRAN) are all on the move.

Array BioPharma, Inc. (NASDAQ: ARRY) is the biggest winner so far on a $467 million drug pact that was an alternative to a merger. Shares have held up rather well and the stock is up 35% at $4.09 on almost 16 million shares. Shares hit $4.25 today and the 52-week high is $4.65.

BioDelivery Services International Inc. (NASDAQ: BDSI) is one of the worst performers in the BioHealth space due to its raising $10 million in a registered direct offering from institutional investors. Shares are down over 14% at $3.61 on over 2 million shares of stock. The market cap is a mere $76 million and the average volume here is only about 90,000 shares.

Biogen Idec Inc. (NASDAQ: BIIB) is one of the few situations where a Carl Icahn movement needs to actually work out. The stock is down today, but just marginally, after the TYSABRI drug maker for MS said its profit fell on charges despite Tysabri sales having risen. Shares are down 1.9% at $53.74 and we have not quite yet seen the 2.6 million shares hit on an average day.

Biosante Pharmaceuticals, Inc. (NASDAQ: BPAX) is trading up again today. Yesterday’s news was that it will present and separately participate in a cancer immunotherapy panel discussion at the World Vaccine Congress. Shares are up 5.8% at $2.00 on what is already triple volume after 1.8+ million shares have traded hands.

CytRx Corporation (NASDAQ: CYTR) is up after its Bafetinib received a positive opinion from the Committee for Orphan Medicinal Products in the European Union indication for treatment of chronic myeloid leukemia or CML. Shares are up 9.7% at $1.13 on over 6 million shares mid-afternoon, which is already about 8-times normal volume if they closed the market now. Its market cap is $123 million and the 52-week trading range is $0.35 to $1.72.

Human Genome Sciences, Inc. (NASDAQ: HGSI) is in trouble, and frankly it is lucky the fallout is not worse. The company’s GlaxoSmithKline-partner study of topline 76-week results of its Phase III trial of Benlysta in Systemic Lupus Erythematosus actually failed to meet a secondary endpoint. The primary endpoint is still met, but this is a disappointment. Shares are down 6% at $29.60 on more than 22 million shares. The 52-week range is $1.16 to $34.49 and the average volume is a more 3.1 million shares.

Neuralstem, Inc. (AMEX: CUR) is up on what may be no fixed news other than outside commentary. Shares are up over 20% at $2.75 and the trading volume is very high with well over 2 million shares having traded hands.

Prana Biotechnology Ltd. (NASDAQ: PRAN) played more profit taking after yesterday’s large run up followed by profit taking. Shares closed up 78% at $2.41 yesterday but had been as high as $3.35 after showing some Alzheimer’s Disease effects reversed in some study presentations. The stock is down another 15% at $2.05 today on over 2.3 million shares.

JON C. OGG

Filed under: Biotech, Drug companies, Pharmaceuticals, Trading Alert Tagged: ACUR, AMLN, BIIB, CADX, CYCC, ELN, HGSI, MIPI, PRAN, RNN, SQNM

BioHealth Business Daily (ACUR, AMLN, BIIB, ELN, CADX, CYCC, HGSI, MIPI, PRAN, RNN, SQNM)

Administrator — Mon, 19 Apr 2010 19:20:03 +0000

Today’s version of the BioHealth Business Daily has many stocks moving on news, but oddly many of the real news stocks are hardly moving and were eliminated from today’s report. Today’s leaders are Acura Pharmaceuticals Inc. (NASDAQ: ACUR), Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN), Biogen Idec Inc. (NASDAQ: BIIB), Elan Corp. plc (NYSE: ELN), Cadence Pharmaceuticals, Inc. (NASDAQ: CADX), Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC), Human Genome Sciences, Inc. (NASDAQ: HGSI), Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI), Prana Biotechnology Ltd. (NASDAQ: PRAN), Rexahn Pharmaceuticals, Inc. (AMEX: RNN), and Sequenom Inc. (NASDAQ: SQNM).

Acura Pharmaceuticals Inc. (NASDAQ: ACUR) is higher before Thursday’s FDA advisory panel is set to discuss the drug company’s lead candidate, called Acurox, which is for pain relief. Shares are up 45% at $8.50 on over 1.4 million shares. The market is listed now as $369 million.

Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) is surprisingly soft and quiet considering that this morning was its earnings, and its losses narrowed on narrower expenses. Shares are down 2.3% at $21.24 on 2.7 million shares, which is barely 60% of a full day’s trading volume.

Biogen Idec Inc. (NASDAQ: BIIB) is up, while Elan Corp. plc (NYSE: ELN) is down after Elan said it is considering spinning off its drug delivery operations. Elan is down 2.8% at $7.50 and Biogen Idec is up 2.1% at $54.78.

Cadence Pharmaceuticals, Inc. (NASDAQ: CADX) is rising after the company released data that it plans to resubmit its new drug application for OFIRMEV pain shot. The stock is up 14% at $10.48 on 1.2 million shares (over 3-times normal volume).

Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC) looks to be up on block volume besides chat room discussions. Shares are up 4.9% at $2.78 on over 11 million shares of stock, which is so far the most volume since Feb. 17 when it traded 13.8 million shares.

Human Genome Sciences, Inc. (NASDAQ: HGSI) is down after its partner Novartis withdrew its European Medicines Agency application for approval of JOULFERON for the treatment of chronic hepatitis C. Shares are down 3% at $31.43 on over 3.4 million shares.

Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) is running higher in recovery after debt discussions last week after shares fell each day after an almost 200% gain on Tuesday. Shares are up 13.7% at $2.57 on 1 million shares. This is more evidence of continued trader interest back and forth more than breaking news or breaking rumors.

Prana Biotechnology Ltd. (NASDAQ: PRAN) is acting like the next ten-bagger chase after positive Alzheimer’s data, the difference being that is over reversal of the effects rather than delay of effects. Shares were up over 100% earlier before coming off highs.

Rexahn Pharmaceuticals, Inc. (AMEX: RNN) is down today after last week’s gains. This may be profit taking, but TheStreet.com says there are “holes galore in Serdaxin data.” Shares are down 15% at $2.41 on almost 5 million shares.

Sequenom Inc. (NASDAQ: SQNM) is up after its launch of the new MassARRAY Analyzer 4, with the capability for quantitative gene expression analysis, epigenetic nucleic acid methylation analysis as well as high-throughput genotyping and SNP fine mapping applications. Shares are up 3.6% at $6.01 on over 8.3 million shares.

JON C. OGG

Filed under: Biotech, Drug companies, Trading Alert Tagged: ACUR, AMLN, BIIB, CADX, CYCC, ELN, HGSI, MIPI, PRAN, RNN, SQNM

Top 10 Analyst Upgrades, Downgrades, Initiations (CADX, COH, DELL, HTE, JWN, RIMM, S, STP, URI, VRSK)

247wallst — Mon, 16 Nov 2009 13:13:25 +0000

These are the top ten analyst upgrades, downgrades, and initiations we have seen from Wall Street research calls early this Monday:

Cadence Pharmaceuticals (NASDAQ: CADX) Cut to Perform at Oppenheimer.
Coach Inc. (NYSE: COH) Raised to Buy at Goldman Sachs.
Dell Inc. (NASDAQ: DELL) Started as Buy with $19 target at Goldman Sachs.
Harvest Energy (NYSE: HTE) Cut to Neutral at UBS.
Nordstrom (NYSE: JWN) Raised to Buy at Goldman Sachs.
Research In Motion (NASDAQ: RIMM) Started as Hold, $66 target, at Auriga.
Sprint Nextel (NYSE: S) Raised to Outperform at Credit Suisse.
Suntech Power Holdings Co. Ltd. (NYSE: STP) Raised to Neutral (from Underweight) at HSBC.
United Rentals (NYSE: URI) Raised to Outperform at Oppenheimer.
Verisk Analytics (NASDAQ: VRSK) Started as In-Line at Fox-Pitt; Started as Market Perform at KBW.

You can join our open email distribution list which goes out several times per week to be notified of key analyst calls, top early morning day trader alerts, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more.

JON C. OGG

Posted in Analyst Calls, Technology Companies, Trading Alert Tagged: CADX, COH, DELL, HTE, JWN, RIMM, S, STP, URI, VRSK

Top Day Trader Alerts (ANF, RINO, CADX, TSTC, PLA, JWN)

247wallst — Fri, 13 Nov 2009 13:53:03 +0000

These are this morning’s top day trader and active trader alert stocks. More detailed analysis and data has been offered via a link to each story at VSInvestor.com:

Abercrombie & Fitch Co. (NYSE: ANF) is trading higher by 6% despite poor sales.

RINO International Corp. (NASDAQ: RINO) is hitting new 52-week highs after strong earnings.

Cadence Pharmaceuticals Inc. (NASDAQ: CADX) is down 6% after the FDA extended the review for its painkiller Acetavance.

Telestone Technologies Corp. (NASDAQ: TSTC) is the top percentage gainer.

Playboy Enterprises Inc. (NYSE: PLA) is up again 8% after yesterday’s takeover chatter.

Nordstrom Inc. (NYSE: JWN) is down about 5% on soft earnings despite raised guidance.

You can join our open email distribution list which goes out several times per week to be notified of key merger news, key analyst calls, top early morning day trader alerts, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more.

JON OGG

Posted in Pre-Market Activity, Trading Alert Tagged: ANF, CADX, JWN, PLA, RINO, TSTC

Top Day Trader Alerts (AIG, AONE, MBI, PALM, SIGM, REGN, CADX, TRA, CF, AGU, BRCD)

247wallst — Wed, 11 Nov 2009 14:09:18 +0000

These are this morning’s top day trader and active trader alerts seen in the pre-market trading hours. We also included some options color from yesterday. A link has been provided for more detailed analysis and data for each stock over at VSInvestor.com:

American International Group, Inc. (NYSE: AIG) is down only about 2% after reports that the company could find itself leaderless again.

A123 Systems, Inc. (NASDAQ: AONE) is trading down 3% after earnings and concerns over a partnership.

MBIA Inc. (NYSE: MBI) is trading up over 3% this morning after getting crushed yesterday, M.J. Whitman’s Third Avenue took a stake.

Palm Inc. (NASDAQ: PALM) is running over 3% on an analyst call.

Sigma Designs, Inc. (NASDAQ: SIGM) is down 8% on a downgrade.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) is trading up 10% after Sanofi-Aventis expanded its antibody pact substantially.

We have many options on watch as well:

Cadence Pharmaceutical Inc. (NASDAQ: CADX) is one to watch with a huge binary volatility trade ahead of the 11/13 PDUFA date for Acetavance as a treatment for acute pain.
There was some interesting options trading seen yesterday in the trifecta fertilizer merger war via Terra Industries Inc. (NYSE: TRA), CF Industries (NYSE: CF), and Agrium (NYSE: AGU).
Brocade Communications Systems, Inc. (NASDAQ: BRCD) gave a stock and option alert yesterday, but it went even more active in options with the NOV09 $9 CALLS seeing 24,450 contracts and the NOV09 $10 CALLS seeing 17,432 contracts.

JON C. OGG

Posted in Pre-Market Activity, Trading Alert Tagged: AGU, AIG, AONE, BRCD, CADX, CF, MBI, PALM, REGN, SIGM, TRA

Biotech Busine$$ Daily (ALKS, CADX, CVTX, MNKD, GNBT, PPHM)

247wallst — Mon, 14 Apr 2008 12:16:42 +0000

Alkermes (NASDAQ: ALKS) and Johnson & Johnson Pharmaceutical Research and Developed today submitted paperwork seeking approval of their partnership drug, RISPERDAL CONSTA, to be allowed for treatment of bipolar disorder chronic relapse. The drug was already approved for treatment of schizophrenia in 2003. Shares of Alkermes are down to by $0.17 to $10.94 in mid-day trading on a 52-week range of $10.32 to $18.78.

Cadence Pharmaceuticals Inc. (NASDAQ: CADX) up over 8% today on no new developments to $6.74 off a 52-week range of $4.84 to $20.67. Cadence Pharmaceuticals is a development stage biopharmaceutical company with two products in Phase III testing, Acetavance and Omigard.

CV Therapeutics (NASDAQ: CVTX) down today despite FDA approval for its coronary artery treatment, Lexiscan, granted last Friday. The drug is injected into patients during heart tests that cannot exercise to increase blood flow in their arteries. The drug will be marketed by OTC company Astellas Pharma US Inc. and will pay CV Therapeutics $12 million now that drug has been approved. CV Therapeutics is down over 5% to $7.57 on a 52-week range of $5.41 to $13.74.

Mannkind Corp. (NASDSQ: MNKD) still slipping today on Pfizer’s insulin scare earlier this month. Pfizer markets an inhaled insulin product, Exubera, that recently studies showed it be connected with lung cancer in its users. Despite the failings of Pfizer’s inhaled insulin product and other developers of similar treatments (including Alkermes above), Mannkind intends to continue developing its similar product, Technosphere. Shares are down almost 7% to $2.33 today on a 52-week range of $2.15 to $15.65. Pfizer (NYSE: PFE) up marginally today to $20.53 on a 52-week range of $20.19 to $27.73.

Generex Biotechnology Corp. (NASDAQ: GNBT) could benefit from Pfizer’s and Mannkind’s struggles with inhaled insulin treatments. Generex’s product Oral-lyn is viewed as a competing oral insulin product that is safe and effective. Shares are up over 2% to $1.18 today on a 52-week range of $0.81 to $2.14.

Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) down almost 11% today after they announced that the pre-clinical study of their anti-PS Vascular Targeting Antibodies showed a broad range of potential for cancer treatment at the American Association of Cancer Research annual meeting. Shares are down to $0.44 on a 52-week range of $0.35 to $1.40.

Rachel Lopez
April 14, 2008