Biotech and BioHealth stocks are on the move today and there is more news in the emerging sector than there has been on a single day in months and months. The news is not even on any of the ten-bagger drug announcement tracking stocks that investors tend to fall in love with from time to time. We have individual news and moves seen in Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR), Dendreon Corporation (NASDAQ: DNDN), Santarus Inc. (NASDAQ: SNTS) and Sinovac Biotech Ltd. (NASDAQ: SVA). There is a boatload of stem cell reactions to news today; obesity drug candidate companies are all not getting an up-market memo from the stock exchanges. We also have ongoing pending merger news and there were more drug and biotech research calls than you can easily count today.
Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) is down over 5.5% at $9.79 after the FDA said it needed more time to review its Supplemental New Drug Application for its Acthar decision for infantile spasms.
Dendreon Corporation (NASDAQ: DNDN) is playing a 2% game of giveback today and shares are down at $40.99. There has been some steady hope of a deal here on and off coming down the pipe, but the Medicare review period over reimbursements (a possible price shakedown) is a steady thorn in the side of PROVENGE in the fight against prostate cancer.
Sinovac Biotech Ltd. (NASDAQ: SVA) is trading up 7.5% at $4.30 on above average volume. The company disclosed that there were THREE upcoming presentations:
- Morgan Stanley Global Healthcare Unplugged Conference, New York, scheduled for September 14 at 2:10 pm ET.
- Morgan Stanley China Global Healthcare Day, Boston, September 15 in one-on-meetings with investors.
- UBS Global Life Sciences Conference, New York, scheduled for Monday, September 20 at 10:00 AM ET.
Stem cells are back in vogue…. Geron Corporation (NASDAQ: GERN), StemCells Inc. (NASDAQ: STEM), Aastrom Biosciences, Inc. (NASDAQ: ASTM), Cytori Therapeutics, Inc. (NASDAQ: CYTX), Neostem, Inc. (AMEX: NBS), BioTime, Inc. (NASDAQ: BTIM) and Pluristem Therapeutics, Inc. (NASDAQ: PSTI) are all trading higher on word that US District Court has lifted that ban on federal funding for embryonic stem cells.
VIVUS Inc. (NASDAQ: VVUS) is down 3.5% at $6.11 but it is on light trading volume. Orexigen Therapeutics, Inc. (NASDAQ: OREX) is down 3.4% at $5.14 on thin volume, and this is the one that Takeda got on the map for a potential $1 billion obesity pill pact announced in recent weeks. Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is also down 4% at $7.13 on fairly active trading volume.
Santarus Inc. (NASDAQ: SNTS) is up after it secured a license for a Type II diabetes drug for the exclusive manufacturing and commercial rights to Cycloset in the U.S. with S2 Therapeutics and VeroScience. The company will pay an upfront $5 million fee and will then pay royalties to its partners from the Cycloset sales. Santarus shares are trading up over 14% at $2.54 on about 10-times normal trading volume.
Genzyme Corporation (NASDAQ: GENZ) is up today on hopes of a higher Sanofi-Aventis (NYSE: SNY) bid, although this appears to be on a false rumor.
There was a massive push for drug and biotech research calls today. Stocks given new coverage, upgrades, and downgrades were Teva Pharmaceutical Industries Limited (NASDAQ: TEVA), Amgen Inc. (NASDAQ: AMGN), Acorda Therapeutics, Inc. (NASDAQ: ACOR), Celgene Corporation (NASDAQ: CELG), Human Genome Sciences Inc. (NASDAQ: HGSI), Biogen Idec Inc. (NASDAQ: BIIB), Gilead Sciences Inc. (NASDAQ: GILD), EXACT Sciences Corp. (NASDAQ: EXAS), ZymoGenetics Inc. (NASDAQ: ZGEN), Dyax Corp. (NASDAQ: DYAX), IDEXX Laboratories, Inc. (NASDAQ: IDXX), and ViroPharma Inc. (NASDAQ: VPHM) all have major research calls with a FULL RESEARCH SUMMARY WITH INDIVIDUAL CALLS HERE.
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JON C. OGG