Below are some of the news items affecting shares of biotech stocks:
- Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) is enjoying upgrades after a positive earnings release Thursday. The company’s partnership with Swiss drug maker Roche on RNA-interference drugs drove its fourth quarter profit. RNA-interface drugs work by turning off genes that cause illnesses. The prospect of more deals and partnerships in the future is driving up the stock, up over 7% at mid-day to $32.61. The 52 week range is $14.87 to $37.35.
- Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) down almost 6% at mid-day despite improved financial results and positive guidance. The stock is trading at $3.14 at mid-day on thin trading volume.
- Cephalon Inc. (NASDAQ: CEPH) paid lobbyist group Capitol Decisions $80,000 to push their drug for alcoholism, Vivitrol. Along with a downgrade and resignation of executive VP, John Osborn, the stock is down 7% to $59.08 at mid-day, a new 52 week low. The 52 week range is $62.93 to $84.83.
- Business Week’s "Inside Wall Street" has a note today on Cypress Bioscience (NASDAQ: CYPB) showing hedge fund interest based upon the future of its treatment for fibromyalgia that is in Phase III studies. It lists the drug candidate as having $1 billion potential sales, or the blockbuster drug category, although shares are essentially flat today at $8.38.
- GTC Biotherapeutics Inc. (NASDAQ: GTCB) announced plans to raise $6 million to fund day-to-day operations by issuing new stock at $0.87 per share. Their lead drug, ATryn, an anti-clotting drug, is currently in clinical trials. Shares down at $0.76 mid-day.
- InterMune, Inc. (NASDAQ: ITMN) was down over 3% at mid-day to $15.81 after fourth quarter losses.
This week we also noted how many of the stocks that are involved in stem cell research may be the winners of this week’s Super Tuesday presidential primaries over the long haul.
Rachel Lopez
February 8, 2008
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