Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) is set to report earnings after the closing bell, with First Call estimates at -$0.44 EPS on revenues of $202.58 million Shares were up less than 1% at $32.74 on the day ahead of earnings.

Carl Icahn has nominated three individuals for the board of directors in Biogen-Idec (NASDAQ: BIIB) in his activist efforts to move the shares.  Biogen-Idec shares were down $0.90 to $58.02 mid-day.

Celgene Corporation (NASDAQ: CELG) was cleared today by German regulation to proceed with its acquisition of Pharmion. Stocks are up over 3% to $53.31 at mid-day. Pharmion Corp. (NASDAQ: PHRM) shares were up 1.8% to $67.44.

CombinatoRx Inc. (NASDAQ: CRXX) shares fell almost 7% to $4.80 mid-day on thin trading volume.  Technically there was no news today, although this followed guidance last week of losses below view.

Lipid Sciences, Inc. (NASDAQ: LIPD) announced positive trial results in non-human SIV-infected primates in its proprietary deplidated autogolous virus vaccine. Share prices were up more than 15% or $0.09 to $0.65 at mid-day.

Medivation, Inc. (NASDAQ: MDVN) rose after it announced that, based on its end-of-Phase 2 meeting with the FDA, it plans to begin a pivotal confirmatory Phase III trial of Dimebon for mild-to-moderate Alzheimer’s Disease in the second quarter of 2008.  Shares rose $2.36 to $17.21 by mid-day on this data.

Pharmacopeia, Inc. (NASDAQ: PCOP) shares fell over 10% to $4.37 at mid-day on thin-trading volume. There has been no recent news.

Jon C. Ogg
January 28, 2008