The Health Stocks in Motion

Shares of Dov Pharmaceutical(DOVP) were among the worst-performing health-related stocks Friday, falling 17% after the company suspended its phase III clinical trial for ocinaplon, its anti-anxiety agent.

The study had been intended to treat up to 373 health subjects and patients who suffered from generalized anxiety disorder with ocinaplon or placebo for four weeks. To date, about 200 subjects and patients had been randomized to treatment. Dov said that a recent occurrence of enzyme elevations in liver function tests for one subject in the trial led it to suspend the trial.

Going forward, Dov Pharmaceutical said that it would continue to monitor subjects and patients currently enrolled in the trial. After a full analysis and completion of its review, the company will determine whether to continue with ocinaplon or select a back-up compound, it said. Shares were trading down $2.91 to $15.06.

Renovis(RNVS) said late Thursday that its phase II clinical trial studying REN-1654 in patients with sciatica, a form of neuropathic pain, failed to reach statistical significance in its primary endpoint. The company's primary endpoint was change in average daily spontaneous pain ratings at the end of a three-week treatment period compared to placebo. "Based on the modest effectiveness observed at the dose tested in this study, and safety findings that would limit testing of higher oral doses, Renovis is discontinuing development of REN-1654 as an oral medication and is instead exploring alternate routes of administration," the company said. Shares were recently trading up 34 cents to $13.04.

Shares of Cardiac Science(DFIB) rose 14% after the company said the Japanese Ministry of Health, Labor and Welfare approved the company's biphasic automatic public-access defibrillators in Japan. The biphasic product, a private-labeled OEM version of the Powerheart AED, will be marketed in Japan by Nihon Kohden, Japan's largest medical device maker, under the CardioLife brand name. Cardiac Science, which is in the process of merging with Quinton Cardiology Systems(QUIN), expects to begin recognizing sales in Japan during the fourth quarter of 2005. Shares were trading up 14 cents to $1.17.