Health and Healthcare
BioHealth Business Daily (AEN, ARQL, CTIC, ENCO, GENZ, OMER, OXGN, VVUS)
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Today’s version of the BioHealth Business Daily seems to be more influenced by outside factors more than big blockbuster news. Still we have many movers, some on news. Today’s cast members are Adeona Pharmaceuticals, Inc. (AMEX: AEN), ArQule Inc. (NASDAQ: ARQL), Cell Therapeutics, Inc. (NASDAQ: CTIC), Encorium Group Inc. (NASDAQ: ENCO), Genzyme Corporation (NASDAQ: GENZ), Omeros Corporation (NASDAQ: OMER), Oxigene Inc. (NASDAQ: OXGN), and Vivus Inc. (NASDAQ: VVUS).
We have provided the news, a relative analysis on price and volume compared to normal, and added in other color where appropriate.
Adeona Pharmaceuticals, Inc. (AMEX: AEN) is one of the losers today, although this is just on a give back and profit taking trading from the looks of it after multi-day gains. Shares are down almost 18% at $1.91 on over 4 million shares.
ArQule Inc. (NASDAQ: ARQL) rose sharply, and at one point it was an exponential winner, on news that results of Phase II trial with ARQ 197 in NSCLC (lung cancer) showed promise. Shares are up 72% at $6.01 on over 39 million shares. That is about 70-times normal trading volume.
Cell Therapeutics, Inc. (NASDAQ: CTIC) is getting hit again today. Shares are down almost 10% at $0.545 on over 24 million shares. The company is selling $20 million in preferred shares after its blow-up.
Encorium Group Inc. (NASDAQ: ENCO) is also down on a profit taking as the trial managing company had been up huge yesterday. Shares are down 13% at $2.85 today on about 800,000 shares.
Genzyme Corporation (NASDAQ: GENZ) has seen a surprisingly small price reaction. The company is holding an investor event today at 1:00 PM EST in Boston to review the changes it has made within its manufacturing and quality operations. Late yesterday it named David Meeker as chief operating officer, a name which may thwart any changes in the CEO seat as we have suspected may be brewing more and more. Shares are down 0.6% at $52.19.
Omeros Corporation (NASDAQ: OMER) is rising today on reports that its Phase 2 data showing multiple clinical benefits in patients undergoing arthroscopic meniscectomy surgery. Shares are up 18% at $7.12 on only about 240,000 shares. That is actually 9-times normal volume and the 52-week trading range is $5.27 to $9.49.
Oxigene Inc. (NASDAQ: OXGN) was a rare analyst win, because the Roth call gave it 300% upside for its Buy price target. Shares are up 24% at $1.24 on 2.9 million shares. That is almost 15-times normal volume and the 52-week range is $0.66 to $2.78.
Vivus Inc. (NASDAQ: VVUS) is surprisingly quiet on what might have been big news in the past. The company is ending its development agreement with FemPharm for testosterone development. Shares are down only 1% at $8.80 on only 1.45 million shares. The good news here is that the obesity review is still coming. Shares are down 1% at $8.80.
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JON C. OGG
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