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The Week’s Top Biotech Movers For Next Week (TRCA, ACOR, ISPH, ONCY, PCYC, SQNM, IDEV, LGND, AUXL)

247wallst — Sat, 07 Jun 2008 06:01:00 +0000

Out of the daily movers this last week, many of the top winners and losers were from news in many of the smaller biotech stocks. We prepared a list of the winners and sinners from our daily review at BioHealthInvestor.com and gave a summary regarding the moves on each. It is becoming more obvious that many small and mid-sized biotechs are going to be gobbled up by European or Asian biotech and pharma companies seeking the dollar-discount right now.

For starters, we ran a summary of the key moving pieces out of the American Society of Clinical Oncology (ASCO). No review would be complete without it. Stocks covered: (AVAN, PFE, CELG, IMCL, DNA)

ACQUISITION NEWS
Tercica, Inc. (NASDAQ: TRCA) bites the dust as its own company the latest small cap biotech received a huge premium acquisition from a foreign buyer, with a 104% premium. FULL DETAILS

MAJOR WINNERS
Acorda Therapeutics Inc. (NASDAQ: ACOR) had a great week after it announced positive data from a second Phase III study of its Fampridine-SR for patients’ walking abilities in MS patients. FULL DETAILS

Inspire Pharmaceuticals Inc. (NASDAQ: ISPH) surged after reaching its primary endpoint in Phase III trial of Denufosol for Cystic Fibrosis. FULL DETAILS

Oncolytics Biotech Inc. (NASDAQ: ONCY) gained after the Canadian biotech’s positive Phase II studies of intravenous REOLYSIN® in patients with sarcomas metastatic to the lung. FULL DETAILS

Pharmacyclics Inc. (NASDAQ: PCYC) gained after its Phase 1/2 trial of motexafin gadolinium plus antibody targeted radiation therapy showed a high complete response rate in patients with non-Hodgkin’s lymphoma. FULL DETAILS

Sequenom Inc. (NASDAQ: SQNM) surged after it announced its progress with a non-invasive technology that detects Down syndrome. FULL DETAILS

MAJOR LOSERS
Indevus Pharmaceuticals Inc. (NASDAQ: IDEV) tanked after an FDA request should cause a two-year delay in approving NEBIDO. FULL DETAILS

MIXED REVIEW
Ligand Pharmaceuticals Inc. (NASDAQ: LGND) is one we gave a full pro and con review covering the upside of the stock and the negative side of the stock. FULL DETAILS

Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL) was a strange stock this week. The company reported great news but shares slid before the market figured out it had misinterpreted news in the company. INITIAL DETAILS

Jon C. Ogg
June 7, 2008

Biotech Business Daily (CHTP, CRXL, LLY, IOMI, MEDX, TRCA)

247wallst — Tue, 13 May 2008 12:10:21 +0000

Chelsea Therapeutics International, Ltd. (NASDAQ: CHTP) falling today after first quarter earnings showed wider losses than first quarter 2007. Net loss was $8.7 million compared to a loss of $3.8 million in 2007. The wider loss was driven primarily through increased research and development expenses. Shares are down $0.44, or 8%, at $4.69. The 52-week range is $4.45 to $8.41.

Crucell NV (NASDAQ: CRXL) up today after cutting its net loss in half, posting $13.2 million in losses. The company has $120 million in new contracts for pediatric vaccine Quinvaxem to look forward to in the next two years. Revenues are on track to meet guidance. Also, the company announced this morning that Phase II testing of rabies monoclonal antibody combination product will begin in the Philipines. The product has already commenced testing in the U.S. Shares are up over 8% at $19.43 in mid-day trading. The 52-week range is $12.76 to $24.81.

Eli Lilly & Co. (NYSE: LLY) announced a partnership with TopCoder today, allowing Eli Lilly to outsource complex drug discovery through complex technology processes to the software developer. Shares are down less than 1% at $47.82. The 52-week range is $46.60 to $60.00.

Iomai Corporation (NASDAQ: IOMI) is soaring to new highs today after receiving a $189 million offer yesterday from vaccine maker Intercell AG which trades on the Vienna exchange. The offer of $6.60 per share is a 126% premium to the closing share price Monday of $2.92. As a result of the acquisition, Intercell will have full rights to Iomai’s diarrhea vaccine set to enter Phase III trials in early 2009. Shares are up a whopping 116% at $6.33 in mid-day trading on extremely high relative trading volume. The 52-week range for the biotech company is $0.70 to $4.70.

Medarex Inc. (NASDAQ: MEDX) received a boost after the company was upgraded by Needham & Co. to "Buy" from "Hold." Shares are up $0.56, or almost 8%, at $7.59. The 52-week range is $6.88 to $ 18.23.

Tercica Inc. (NASDAQ: TRCA) dropping over 15% today after posting wider net losses yesterday. The endocrine health biotech company generated a net loss of $17.5 million for the quarter, compared to a net loss of $12.4 million in the first quarter of 2007. Shares down $0.77 at $4.22 in early morning trading. The 52-week range is $4.27 to $8.11.

Rachel Lopez
May 12, 2008

Biotech Business Daily (AMAG, CEGE, IMCL, XOMA, TRCA)

247wallst — Mon, 12 May 2008 13:21:25 +0000

AMAG Pharmaceuticals (NASDAQ: AMAG) has been added to the Nasdaq Biotechnology Index (NASDAQ: NBI) beginning May 19, 2008. AMAG shares up $1.26 at $39.85. The 52-week range is $38.16 to $72.95.

Cell Genesys (NASDAQ: CEGE) offered 7.1 shares for $30 million in gross proceeds to a single institutional investor at $4.22 per share to finance product development and general corporate purposes. Shares are down 6% to $42.12. The 52-week is $30.34 to $49.18.

Imclone Systems Inc. (NASDAQ: IMCL) is down almost 5% after a downgrade by Morgan Stanley, citing belief that Erbitux will fail to reach expectations. Shares are trading at $42.31 in mid-day trading. The 52-week range is $30.34 to $49.18.

XOMA Ltd. (NASDAQ: XOMA) down over 8% after reporting larger than expected first quarter losses. They showed a loss of $14.2 million and revenues of $12.1 million, failing to hit estimates by Thomson of $16.4 million. Shares trading at $2.12. The 52-week range is $1.96 to $4.39.

Tercica Inc. (NASDAQ: TRCA) up almost 7% today in anticipation of positive first quarter earnings to be announced after market close. Shares trading at $4.77on a 52-week range of $4.30 to $8.11.

Rachel Lopez
May 12, 2008

Media Digest 7/11/2007 Reuters, WSJ, NYTimes, FT, Barron’s

247wallst — Wed, 11 Jul 2007 03:08:08 +0000

According to Reuters, private equity firms are going to start to target big miners like Alcoa (AA).

Reuters writes that Rupert Murdoch’s BSkyB added 90,000 subscribers over the last quarter.

Reuters writes that Genetech (DNA) has formed a partnership with Tercica (TRCA) to make drugs with human growth hormone.

The Wall Street Journal reports that Liz Claiborne (LIZ) plans to divest 16 of its 36 brands.

The Wall Street Journal writes that S&P and Moody’s have downgraded bonds back by sub-prime mortgages.

The Wall Street Journal writes that the issues of GE (GE) investing in sub-prime mortgages could affect its Q2 earnings.

The Wall Street Journal reports that homes build by KB Home (KBH) and partially designed by Martha Stewart are still selling well.

The New York Times writes that Microsoft (MSFT) has set up a partnership wth Walt Disney (DIS) to market films that run on the Xbox.

The FT writes that Microsoft (MSFT) believes that the large number of new game releases will drive up demand for its Xbox Live by 40% over the next year.

The FT reports that Nielsen NetRating will launch a new measurement service based on time spent at websites.

Barron’s reports that Goldman has added Cisco (CSCO) and Intel (INTC) to its Top Five Tech Value Stock list.

Douglas A. McIntyre

Tercica (TRCA): More Small Cap BioTech Madness

247wallst — Tue, 10 Jul 2007 16:49:58 +0000

Tercica (TRCA) is a small biotech which had an operating loss of $86 million last year on revenue of a little over $1 million. The year’s numbers have not been much better.

The company’s shares are up almost 25% after hours to $6.60 which would give the company a market cap over $270 million.

Why? Tercica signed a deal with Genentech (DNA) for the larger company to pay "up to" $53 million "to combine its Increlex with Genentech’s Nutropin, a growth hormone, to form a once-daily injectable treatment for children who don’t grow normally," according to CNN Money.

Phase 2 testing will not begin until next year, so the drug may or may not be approved by 2010.

A lot can happen in three years.

Douglas A. McIntyre