24/7 Wall St. is tracking several key movers this Monday that are unusual moves in nature. These are not due to mergers directly, so they are issues that investors and traders alike may track in the days and weeks ahead, rather than solely as one-time events where the full realization takes place all in one day or in issues where the stock will likely disappear permanently.
Biodel Inc. (NASDAQ: BIOD) is tanking on news that its BIOD-123 achieved primary endpoint in Phase II Clinical trial demonstrating glycemic control comparable to Humalog. TheStreet.com referred to it as “Me-Too Mealtime Insulin” and that pretty much sums it up. Shares are down a sharp 22% at $3.89 in mid-Monday trading hours. The volume of 5.3 million shares is already closing in on a 10-times normal trading volume day.
Delta Air Lines Inc. (NYSE: DAL) is surging, but not on merger news nor on its flight measurement news. The airline is going to replace BMC Software in the S&P 500 index. Shares are up almost 7% at $21.25, against a 52-week trading range of $8.89 to $22.05.
Fusion-io Inc. (NYSE: FIO) is up on buyout hopes, which is effectively an echo of prior market speculation. A boutique brokerage firm is responsible for today’s surge calling for industry consolidation to gobble this company up as well. Fusion-io shares are up almost 20% at $12.98, against a 52-week range of $10.38 to $32.63.
Isis Pharmaceuticals Inc. (NASDAQ: ISIS) is up on news of its collaboration with Biogen Idec being extended for six years for its neurological disorder treatment pact. Isis will receive $100 million up front and it will give Biogen exclusivity on drug rights. We would point out that Isis has a market value of some $3.57 billion after the gain. Shares of Isis are trading up more than 10%, at $30.88 against a 52-week range of $7.56 to $34.31.
Oncolytics Biotech Inc. (NASDAQ: ONCY) is surging on great news in its Phase II lung cancer studies. The final tumor response rate in combination with carboplatin and paclitaxel, some 92% of the 25 patients exhibited overall tumor shrinkage. The study enrolled patients with metastatic stage III or stage IV squamous cell carcinoma of the lung. Its shares are trading up almost 22% in mid-Monday trading, at $3.24 against a 52-week range of $1.60 to $4.93. Even after the huge gain, its market cap is a mere $274 million.
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