Biotech Busine$$ Daily (ACOR, CERS, DNDN, STEM, TCM)

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Biotechs always have some news movers regardless of which direction the markets are headed.  Here are some of the top movers in biotech today, although we would note that many of the largest market cap biotech stocks are up on a day that the DJIA, S&P 500, and NASDAQ are dragging lower.

Acorda Therapeutics (NASDAQ: ACOR) down 5% today to $19.56. Yesterday, a study the company sponsored on multiple sclerosis was released showing the negative impact MS had on people suffering from the disease. The 52 week range is $15.80 to $28.14.

Cerus Corp. (NASDAQ: CERS) stock up over 6% today to $543 on an announcement that the 32 studies of their INTERCEPT Blood System, a system that assists patients that underwent blood transfusions and avian flu deactivation, will be presented at the International Congress of the International Society of Blood Transfusion. The 52-week range is $4.18 to $10.29

Dendreon (NASDAQ: DNDN) up almost 8% in mid-day trading on no new news. Stocks are trading $0.40 higher at $5.16. The stock seems to be recovering from a slide March 12 when the company changed its tactics on for Phase III testing on prostate cancer immunotherapy Provenge.

StemCells Inc. (STEM) up by almost 8% today to $1.49, possibly in response to Nancy Reagan’s endorsement of Republican presidential nominee, John McCain, both supporters of stem cell research. The 52-week range is $1.00 to $3.09.

Tongjitang Chinese Medicines Co. (NASDAQ: TCM) up today on news that the company has appointed Morgan Stanley Asia Limited as its financial advisor. Shares have edged up $0.45 or by 5%, to $8.51 in mid-day trading on relatively high trading volume. The 52 week high is $12.88.

Rachel Lopez
March 26, 2008