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Health and Healthcare

Biotechs Rise as Novavax Gains on AIDS Vaccine News

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By Douglas A. McIntyre Published
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From BioHealth Investor

by H.S. Ayoub
BioHealth Investor.com

Biotech stocks generally did well on Tuesday as the Nasdaq Biotech Index (^NBI) gained 0.11% to 831.94.

Cerus (CERS) gained more than 12% after the company received a cash payment of $5 million from BioOne Corporation related to the European marketing approval of the INTERCEPT Blood System for plasma. The INTERCEPT system is designed to inactivate numerous viruses, bacteria and other pathogens in donated blood.

Shares of Novavax (NVAX) shot up more than 13% after the company announced it had improved the purity and quality of its anti-HIV/AIDS vaccine. Pre-clinial studies are already under way, and the company has initiated the planning of human clinical trials.

Medicines Co. (MDCO) meanwhile dropped 12% as the company announced a common stock offering of 6,000,000 shares. UBS Securities cut its outlook from ‘reduce’ to ‘neutral’ because the stock price has increased substantially in recent months. The UBS analyst believes that the company’s anti-coagulant drug Angiomax could lose market share to generic competition starting in 2010.

http://www.biohealthinvestor.com/

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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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