Monday Recap: Medical & Biotech Stocks
by H.S. Ayoub, DMD
BioHealth Investor
QLT Inc. (QLTI) up 41.63%... The FDA has completed its review the company's labeling supplement (sNDA) for Aczone(TM) and has removed certain requirements imposed earlier. Aczone is the only acne treatment to use the potential of dapsone in a topical formulation.
Nuvelo (NUVO) down 26.47% aftermarket 4:40pm... the biotech company released more failed phase 2 results of its blood thinner alfimeprase, following two failed studies in 2006. The company will restructure and lay off 40 employees to redirect resources for other programs. Nuvelo is headed to a long stay in pennyland!
Cardiome Pharma (CRME) up 30.61%... the Canadian drug maker released positive phase 2b results of an oral version of its atrial fibrillation drug Vernakalant. The 500mg dose was found to be statistically safer and more efficient than a placebo. An Oppenheimer analyst suggested that the market for such a drug is worth at least $500 million. The company hired Merril Lynch to conduct review of partnership offers from various pharmaceutical companies.
RXi Pharmaceuticals (RXII) down 28.49%... the RNAi technology company continues its erratic Wall Street debut. On March 12 the company IPO opened at $6, quickly jumped to a high of almost $24, before declining to Monday's closing price of $7.58.
Monday's Top Medical & Biotech Stocks
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BioHealth Investor
QLT Inc. (QLTI) up 41.63%... The FDA has completed its review the company's labeling supplement (sNDA) for Aczone(TM) and has removed certain requirements imposed earlier. Aczone is the only acne treatment to use the potential of dapsone in a topical formulation.
Nuvelo (NUVO) down 26.47% aftermarket 4:40pm... the biotech company released more failed phase 2 results of its blood thinner alfimeprase, following two failed studies in 2006. The company will restructure and lay off 40 employees to redirect resources for other programs. Nuvelo is headed to a long stay in pennyland!
Cardiome Pharma (CRME) up 30.61%... the Canadian drug maker released positive phase 2b results of an oral version of its atrial fibrillation drug Vernakalant. The 500mg dose was found to be statistically safer and more efficient than a placebo. An Oppenheimer analyst suggested that the market for such a drug is worth at least $500 million. The company hired Merril Lynch to conduct review of partnership offers from various pharmaceutical companies.
RXi Pharmaceuticals (RXII) down 28.49%... the RNAi technology company continues its erratic Wall Street debut. On March 12 the company IPO opened at $6, quickly jumped to a high of almost $24, before declining to Monday's closing price of $7.58.
Monday's Top Medical & Biotech Stocks
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posted by Nico at
4:44 PM
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