Health Stocks in Motion
Dyadic International (DIL) shares rose nearly 13% to $1.85 a day after the company said it restructured an agreement with research partner TNO Quality of Life. The move effectively eliminates a profit-sharing and royalty-rights arrangement related to Dyadic's fungal high-throughput screening system and also settles an outstanding debt that a Dyadic unit owed to TNO.
Shares of Celgene (CELG) rose 4.6% to $60.12 after the Food and Drug Administration approved Revlimid for treating transfusion-dependent anemia. The company also said Sol Barer will replace John Jackson as CEO on May 1 and set plans for a 2-for-1 stock split.
CAS Medical Systems (CASM) received clearance from the Food and Drug Administration to market its Near Infrared Spectroscopy Adult Cerebral Oximeter Monitor. The news sent shares of CAS higher by $2.09, or 31%, to $8.84. The product is a continuous, noninvasive monitor measuring absolute levels of brain tissue oxygen saturation, and the company plans to start selling it in late 2006.
Shares of Affymetrix (AFFX) surged almost 7% to $46.72 after Standard & Poor's said the company will take the place of Whole Foods in the MidCap 400. Whole Foods is being moved to the S&P 500. Volume in Affymetrix was about two-and-a-half times the normal amount for a full session.Prospect Medical Holdings (PZZ) skyrocketed 34% to $5.75 after the company posted fourth-quarter revenue of $35.5 million, up from $35 million in the same period last year, and said net income rose to $1 million, or 13 cents a share from $908,000, or 11 cents a share, a year ago. Get Jim Cramer's picks for 2006.
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