Biotech Finance Daily (DNDN)(MRK)(DNA)(BRCX)
Shares of ImaRx Therapeutics (IMRX) are off 15% to $1.18. The company’s news about it Transcranial Ultrasound in Clinical SONolysis clinical trial in patients with acute ischemic stroke disappointed the market a little over a week ago and shares have not recovered. The stock was at $4.75 in August.
Seattle Genetics (SGEN) announced an offering of private stock which took shares down 12% to $10.32.
Genentech (DNA) is set to report earnings after hours. The 24/7 Wall St. preview is already available.
Dendreon (DNDN) was hit with a wave of buying early in the day and is trading at three times normal volume up 8% to $6.56. Perhaps an unusual options activity in the FEB-08 $7.50 Calls is the culprit. It had 18,457 contracts trade at that strike and the open interest before today was listed as 107,199 contracts.
BioCryst Pharmaceuticals (BCRX) is trading up 8% on well above normal volume. Named an interirm medical officer on Friday.
Compugen Ltd (CGEN) disclosed a collaboration with Merck (MRK) targeted at predicting peptides likely to activate selected G-protein coupled receptors and validating their agonistic activity. The agreement includes an option to Merck for exclusive worldwide licenses for such peptides. Shares moved up 10% to $2.06
Douglas A. McIntyre