Biotech Busine$$ Daily (AMLN, BIIB, CEPH, CYTK, ONXX, REGN, THRX, CBM)

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By Douglas A. McIntyre Published
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Many biotech stocks are enjoying large gains Monday, although some are on no real breaking news. Here is a look at some notable gainers:

  • Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) up $1.39 to $28.97, a 5% increase. The 52-week range is $23.75 to $53.25.
  • Biogen Idec Inc. (NASDAQ: BIIB) up nearly $3.00, a 5% increase to $61.94. Carl Icahn on CNBC said today he is going to stay after the company.  The 52-week range is $43.43 to $84.75.
  • Cephalon Inc.  (NASDAQ: CEPH) up a modest 1% to $65.35. Last Thursday, they received FDA approval for Treanda, a treatment for chronic lymphocytic leukemia. The 52-week high is $84.83.
  • Cytokinetics, Incorporated (NASDAQ: CYTK) up over 2% to $3.49. Today the company announced positive results from Phase IIa trials of cardiac myosin activator drug CK-1827452 for patients with stable heart failure.
  • Onyx Pharmaceuticals (NASDAQ: ONXX) up $1.94 to $29.36, over 7% up. The 52-week range is $23.73 to $61.18
  • Regeneron Pharmaceuticals (NASDAQ: REGN) up $2.21 to $19.86, a 12% increase on the day. The 52-week range is $13.55 to $28.74
  • Theravance Inc. (NASDAQ: THRX) up $1.13 to $10.53, a 12% jump. The 52-week range is $9.37 to $36.98.

One biotech stock that isn’t enjoying the upswing is Cambrex Corp. (NYSE: CBM). The company hit a new low, down over 13% to $6.95 on news that UCB Groups Parkinson’s treatment, Neupro, is being recalled. Neupro uses their ingredient and the recall should impact earnings. First Analyis Sec downgraded the stock today.

Rachel Lopez
March 24, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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