BioHealth Business Daily (AEZS, KERX, CTIC, FRX, MRNA, OXGN, PIP, RGN, RPRX, RNN, RXII)

Today’s version of the BioHealth Business Daily includes some less covered stocks because of the impact from the news flow today.  We are seeing shares moving in Aeterna Zentaris Inc. (NASDAQ: AEZS), Keryx Biopharmaceuticals Inc. (NASDAQ: KERX), Cell Therapeutics, Inc. (NASDAQ: CTIC), Forest Laboratories Inc. (NYSE: FRX), MDRNA, Inc. (NASDAQ: MRNA), Oxigene Inc. (NASDAQ: OXGN), PharmAthene, Inc. (AMEX: PIP), RegeneRX Biopharmaceuticals Inc. (AMEX: RGN), Repros Therapeutics Inc. (NASDAQ: RPRX), Rexahn Pharmaceuticals, Inc. (AMEX: RNN), and RXi Pharmaceuticals Corporation (NASDAQ: RXII).

We have outlined the news, volume and relative moves, and added in color on each where appropriate.

Aeterna Zentaris Inc. (NASDAQ: AEZS) is up after it announces that perifosine has received an FDA Fast Track Designation for treating refractory advanced colorectal cancer.  Shares were back even above $1.00 this morning, but right before 1:00 PM EST we have 7.6 million shares traded (30X-volume) and the stock is up 21% at $0.976.

Also tied to AEZS is that its Perifosine partner is Keryx Biopharmaceuticals Inc. (NASDAQ: KERX), which is seeking approval for the treatment of colorectal cancer.  Keryx shares are up over 21% at $3.34 on the news.

Cell Therapeutics, Inc. (NASDAQ: CTIC) is still reeling from its volatility with a special shareholder meeting event coming up this Friday.  Shares were up 1% earlier and the stock is now down over 2% at $0.519 on almost 9 million shares.

Forest Laboratories Inc. (NYSE: FRX) is down after pre-panel FDA comments due this week on Wednesday.  Headlines crossing the tape showed “Effectivess of Forest Lung Drug Daxas ‘Quite Modest’” did not help out.  Its shares are down over 2% at $30.75 on 4.6 million shares (about 150% of normal trading volume).

MDRNA, Inc. (NASDAQ: MRNA) is trading higher after it announced a study effort with Pfizer to focus on the evaluation of MDRNA’s proprietary di-alkylated amino acids platform and UsiRNA constructs for RNA interference.  MDRNA is up 5% at $1.25 and we have already passed the 1.2 million shares on average.  Shares hit a high of $1.31 this morning and the 52-week range is $0.65 to $3.55.

Oxigene Inc. (NASDAQ: OXGN) is one of our weekend cast members of The Unusual Suspects due to an analyst call looking for a 300% gain to $4.00 over the last week.  Shares are up 2.5% at $1.20 today, and this is the beginning of a long tug of war among traders deciding where the right price should be.  The 52-week range is $0.71 to $2.78.

PharmAthene, Inc. (AMEX: PIP) is soaring after it named Thomas R. Fuerst, Ph.D., as the company’s Senior Vice President, Chief Scientific Officer.  The company is in medical countermeasures against biological and chemical threats, and Fuerst is a former government official. He was Director, Vaccines and Biologics (2004-2007), and Senior Science and Technology Advisor (2007-present) for the U.S. Department of Health and Human Services (HHS).  PharmAthene shares are up 13.9% at $1.64 and the 52-week range is $1.13 to $4.31.

RegeneRX Biopharmaceuticals Inc. (AMEX: RGN) is tanking today.  Shares are down 9,5% at $0.533 on 3-times normal volume of 260,000 shares today.   Thursday came the news that its accounting firm has a “going concern” notation in its report.

Repros Therapeutics Inc. (NASDAQ: RPRX) is up after seeking a lift of the clinical hold on Proellex being developed for the treatment of uterine fibroids and endometriosis. The hold was put on back on August 4, 2009 when the FDA noted liver toxicity as a serious adverse event, although the company had suspended its Proellex studies the day before.  Shares are up 16.7% at $0.713 on 2.5 million shares.  The 52-week range is $0.61 to $8.30.

Rexahn Pharmaceuticals, Inc. (AMEX: RNN) is up on news that it submitted a Phase II protocol to the FDA for the clinical study of Serdaxin for the treatment of Parkinson’s disease.  Shares are now up 14% at $1.86 on just over 2 million shares (180% of normal volume).  The 52-week trading range is $0.40 to $2.00 and the intra-day high seen was $1.94.

RXi Pharmaceuticals Corporation (NASDAQ: RXII) is surprisingly down on late last week’s report that its CEO would present at the Future Leaders in the Biotech Industry investment conference on Thursday, April 8, 2010 at 3:30 pm ET.  Rxi is down 10% at $4.15 on over 410,000 shares traded, which is 130% of normal volume and a rather strange move.

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JON C. OGG