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