Biotech Movers, Mixed to Muted ASCO Results (AEZS, AUXL, IMGN, MDVN, DNDN)

We have several shares of biotech stocks on the move, but frankly the news from th American Society of Clinical Oncology, or ASCO, looks a bit muted.  So far these are the winners and losers in the emerging pharma and biotech players.  As you will see, not all of the movers are directly tied to ASCO this morning.

Aeterna Zentaris (NASDAQ: AEZS) reported that its Phase 3 data for Perifosine in colorectal cancer was presented at the ASCO meeting showing no benefit in overall survival when adding perifosine to capecitabine, confirming top line results. This penny stock is down 10% at $0.42 this morning and that will be a new 52-week low.

Auxilium Pharmaceuticals, Inc. (NASDAQ: AUXL) is surging by 18% to $22.38 early this morning.  The company showed positive top-line results from both Phase III trials of XIAFLEX for the potential treatment of Peyronie’s Disease, which is over penile curvature deformity.  The company said that it demonstrated statistically significant improvement in the co-primary endpoints of Penile Curvature Deformity and patient-reported bother versus the placebo.

ImmunoGen, Inc. (NASDAQ: IMGN) presented new clinical data for SAR3419 that demonstrated an improved safety profile compared to prior tested schedules. The compound was created by ImmunoGen and it was licensed to Sanofi (NYSE: SNY) as part of a collaboration. The findings showed that this schedule demonstrated an improved safety profile versus prior tested schedules while also preserving antitumor activity.  Shares are up over 9% at $15.25 this morning.

Medivation, Inc. (NASDAQ: MDVN) and partner Astellas presented data over the weekend at ASCO and the two companies announced data for enzalutamide relating to the secondary endpoints of health-related quality of life and time to first skeletal-related event in men with castration-resistant prostate cancer previously treated with docetaxel-based chemotherapy. Shares are trading higher by more than 5% at $87.00 pre-market, just $2.46 under a 52-week high.  This news and a lower target from an analyst call have shares of Dendreon Corporation (NASDAQ: DNDN) trading lower by 4.6% at $6.45 this morning.

JON C. OGG