Biotech News Bundle: Best 15 and Worst 15 stocks
The annual California Biomedical Industry Report, published recently by BayBio, California Healthcare Institute (CHI) and PwC US, revealed that nine of the 39 novel medicines approved by the U.S. Food and Drug Administration (FDA) in 2012 were developed by life sciences companies in California. The rate of product approvals and pipeline output of California-based biomedical companies strengthens the state’s position as the country’s most important source of biomedical innovation. Read full report here .
Looking at big movers on Monday, Peregrine Pharmaceuticals (NASDAQ
PHM) led the industry and was also the biggest gainer on Wall Street after declared strong results of its review of a lung-cancer drug trial.
Inovio Pharmaceuticals, Inc. (NYSEAMEX:INO) added 17% after the company unveiled a plan to accelerate malaria vaccine development and new vaccination delivery technologies.
Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) got closer to hit its PT of $1.00.
Galena Biopharma Inc (NASDAQ:GALE) continued to climb after Piper Jaffray initiated coverage issuing an overweight rating and a $2.50 target price on the stock.
Neostem Inc. (NYSEAMEX:NBS) rallied after RedChip research began coverage on the stock.
Rexahn Pharmaceuticals, Inc. (NYSEAMEX:RNN) was another price gainer after a an article published on Smallcapnetwork suggested that the stock has started to rebound and was due for a rally.
Viropharma Inc (NASDAQ:VPHM) added $1 each share after the company provided sales outlook for 2013.
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) surged after the Anaheim-based drug company decided to takeover BioVectra Inc., for $50 million in cash.
Celgene Corporation (NASDAQ:CELG) jumped to new high price after issuing 2013, long-term guidance.
Affymax, Inc. (NASDAQ:AFFY) increased over 4% after news hit the market that Takeda Pharmaceuticals America, Inc. signed a supply agreement for sourcing and supply of OMONTYS® (peginesatide) Injection with DSI Renal.
Biotech stocks closed up between 3-4% included InterMune, Inc. (NASDAQ:ITMN), Hemispherx BioPharma, Inc (NYSEAMEX:HEB) and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) while Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) and MannKind Corporation (NASDAQ:MNKD) each gained more than 2%.
On the flip side, Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was one of the biggest decliners on Monday after disclosing interim results for a phase 2a trial with its lead drug candidate, ACH-3102.
Illumina, Inc. (NASDAQ:ILMN) lost $3.87 after a $350 Million acquisition deal. The news pushed shares of Sequenom, Inc. (NASDAQ:SQNM) into the negative territory.
Dendreon Corporation (NASDAQ
NDN) tumbled after issuing prediction for the fourth quarter ended December 31, 2012.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) declined after signing a 15-year Kendall Square lease agreement with Alexandria Real Estate Equities.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) plunged after being rated as neutral at Piper Jaffray.
Zalicus Inc (NASDAQ:ZLCS) retreated from a rally it saw after its new lead candidate started the second of two Phase 2a trials against chronic neuropathic pain.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) edged down after decision to takeover BioMarin for $10 Million.
Amicus Therapeutics, Inc. (NASDAQ:FOLD) closed down, trimming gains it made in prior session after announcing positive results in Pompe Disease study.
Amgen, Inc. (NASDAQ:AMGN) decreased after decision to pay Maryland $856,474 in drug marketing case.
Celsion Corporation (NASDAQ:CLSN), Oncothyreon Inc (USA) (NASDAQ:ONTY), Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) and Exelixis, Inc. (NASDAQ:EXEL) all fell less than 1%.
