Today’s version of the BioHealth Business Daily is again full of stocks on the move with news, and some not on news.  Array BioPharma, Inc. (NASDAQ: ARRY), BioDelivery Services International Inc. (NASDAQ: BDSI), Biogen Idec Inc. (NASDAQ: BIIB), Biosante Pharmaceuticals, Inc. (NASDAQ: BPAX), CytRx Corporation (NASDAQ: CYTR), Human Genome Sciences, Inc. (NASDAQ: HGSI), Neuralstem, Inc. (AMEX: CUR), and Prana Biotechnology Ltd. (NASDAQ: PRAN) are all on the move.

Array BioPharma, Inc. (NASDAQ: ARRY) is the biggest winner so far on a $467 million drug pact that was an alternative to a merger.  Shares have held up rather well and the stock is up 35% at $4.09 on almost 16 million shares.  Shares hit $4.25 today and the 52-week high is $4.65.

BioDelivery Services International Inc. (NASDAQ: BDSI) is one of the worst performers in the BioHealth space due to its raising $10 million in a registered direct offering from institutional investors.  Shares are down over 14% at $3.61 on over 2 million shares of stock.  The market cap is a mere $76 million and the average volume here is only about 90,000 shares.

Biogen Idec Inc. (NASDAQ: BIIB) is one of the few situations where a Carl Icahn movement needs to actually work out.  The stock is down today, but just marginally, after the TYSABRI drug maker for MS said its profit fell on charges despite Tysabri sales having risen.  Shares are down 1.9% at $53.74 and we have not quite yet seen the 2.6 million shares hit on an average day.

Biosante Pharmaceuticals, Inc. (NASDAQ: BPAX) is trading up again today.  Yesterday’s news was that it will present and separately participate in a cancer immunotherapy panel discussion at the World Vaccine Congress.  Shares are up 5.8% at $2.00 on what is already triple volume after 1.8+ million shares have traded hands.

CytRx Corporation (NASDAQ: CYTR) is up after its Bafetinib received a positive opinion from the Committee for Orphan Medicinal Products in the European Union indication for treatment of chronic myeloid leukemia or CML.  Shares are up 9.7% at $1.13 on over 6 million shares mid-afternoon, which is already about 8-times normal volume if they closed the market now. Its market cap is $123 million and the 52-week trading range is $0.35 to $1.72.

Human Genome Sciences, Inc. (NASDAQ: HGSI) is in trouble, and frankly it is lucky the fallout is not worse.  The company’s GlaxoSmithKline-partner study of topline 76-week results of its Phase III trial of Benlysta in Systemic Lupus Erythematosus actually failed to meet a secondary endpoint.  The primary endpoint is still met, but this is a disappointment.  Shares are down 6% at $29.60 on more than 22 million shares.  The 52-week range is $1.16 to $34.49 and the average volume is a more 3.1 million shares.

Neuralstem, Inc. (AMEX: CUR) is up on what may be no fixed news other than outside commentary.  Shares are up over 20% at $2.75 and the trading volume is very high with well over 2 million shares having traded hands.

Prana Biotechnology Ltd. (NASDAQ: PRAN) played more profit taking after yesterday’s large run up followed by profit taking.  Shares closed up 78% at $2.41 yesterday but had been as high as $3.35 after showing some Alzheimer’s Disease effects reversed in some study presentations.  The stock is down another 15% at $2.05 today on over 2.3 million shares.

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JON C. OGG

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