Thursday’s edition of the BioHealth Business Daily has many common companies through the biotech and pharma sectors, as well as some widely unknown names.  We are seeing news reactions in shares of Celgene Corporation (NASDAQ: CELG), Halozyme Therapeutics, Inc. (NASDAQ: HALO), Cell Therapeutics, Inc. (NASDAQ: CTIC), EntreMed, Inc. (NASDAQ: ENMD), Forest Laboratories Inc. (NYSE: FRX), Novavax, Inc. (NASDAQ: NVAX), and in Tongjitang Chinese Medicines Co. (NYSE: TCM).

We have offered news summaries, as well as the price moves and any expectations if available, as well as offered color where applicable on each.

Celgene Corporation (NASDAQ: CELG) is giving a little of this week’s gains back after its annual R&D day showed the top-line results from the first clinical study with placenta-derived cells that met the primary endpoint of safety goals and showed encouraging clinical benefit… including clinical remission.  There is not anything bad that was seen here, but a sell-the-news reaction is taking place.  There may be some disappointment that a stock split has yet to be seen.  Shares are down 0.35% at $63.02 on over 2.5 million shares.  Update for Close: shares closed down 0.2% at $63.12 on 4.2 million shares.

Halozyme Therapeutics, Inc. (NASDAQ: HALO) is up, but not booming volume.  William Blair initiated    analyst coverage with an Outperform.  Shares are up 5.17% at $8.54 on 362,000 shares.  Average volume is 554,000 shares and this is almost a 52-week considering its $5.07 to $8.67 trading range.  Update for Close: shares closed up 3.7% at $8.42 on over 600,000 shares.

Cell Therapeutics, Inc. (NASDAQ: CTIC) may be anticipation or may be something else.  Tomorrow is the company’s special shareholder meeting.  We previously outlined what was expected to come up there, although you can imagine it will be a heated and passionate meeting.  Shares are up 5% at $0.6245 on about 12.9 million shares.  That is actually light trading volume. Update for Close: shares closed up 7% at $0.637 on 16.3 million shares.

EntreMed, Inc. (NASDAQ: ENMD) noted yesterday in a filing… “On April 2, 2010, the Audit Committee of the Board of Directors of EntreMed, Inc. (the “Company”) approved the dismissal of Ernst & Young LLP (“Ernst & Young”) as its independent registered public accounting firm….Except for an explanatory paragraph in the report of Ernst & Young regarding the Company’s consolidated financial statements as of and for the fiscal year ended December 31, 2009 which noted that there was substantial doubt as to the Company’s ability to continue as a going concern, the reports of Ernst & Young on the company’s consolidated financial statements…. did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles.”  The company recently got its NASDAQ listing extended, but that has already been seen.  Shares are up 4.6% at $0.73 on 335,000 shares (150% of normal volume).  Today’s move may be nothing more than ‘more buyers than sellers’ outside of the ongoing issues. Update for Close: shares closed up 5.7% at $0.74 on moe than 600,000 shares.

Forest Laboratories Inc. (NYSE: FRX) is down hard after an FDA panel rejected its Nycomed lung disease drug after that same FDA panel earlier commented that its benefits were marginal.  We have seen at least two analyst downgrades today from Lazard and from Piper Jaffray.  Shares had been around $30 before seeing a late-day rise on Wednesday before closing at $32.46.  Shares today are down 13% at $28.15 on over 15 million shares.  That is almost 5-times normal volume and the 52-week range is $20.93 to $33.10. Update for Close: shares closed down 13.7% at $27.99 on over 22 million shares.

Novavax, Inc. (NASDAQ: NVAX) is trading higher today and this may be nothing more than a delayed reaction to news out yesterday.  On Wednesday it announced that James F. Young, Ph.D. was joining its Board of Directors as an independent board member effective immediately.  He has 30 years of experience in molecular genetics, microbiology, immunology and pharmaceutical development and had previously been president of R&D at MedImmune where he was “instrumental in the development of FluMist and Synagis.”  Shares are up 4.2% at $2.44 on 1.7 million shares versus 1.56 million shares on average.  The 52-week range is $0.76 to $7.79. Update for Close: shares closed up 4.24% at $2.44 on 2.3 million shares.

Tongjitang Chinese Medicines Co. (NYSE: TCM) is up on a buyout, although not as much as seen in other medical related companies.  It received a proposal to acquire all outstanding shares of the company for the equivalent of $4.50 per ADS.  Shares are up 16% at $4.38 on over 535,000 shares.  The stock’s 52-week range is $2.90 to $5.10 and average daily trading volume is only about 14,000 shares. Update for Close: shares closed up 16.4% at $4.40 on 650,000 shares.

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JON C. OGG

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