Health Stocks in Motion
Shares of Favrille (FVRL) were among the best-performing health-related stocks Thursday, jumping 33% after the developer of cancer treatments said its FavId product received fast-track status from the Food and Drug Administration.
The treatment is used to combat B-cell follicular non-Hodgkin's lyphoma. FavId is currently being evaluated in a phase III clinical trial. "This decision by the FDA has the potential to save us valuable time in the regulatory approval process, and also serves as an important acknowledgement of the potential for FavId in the treatment of B-cell follicular NHL," the company said. Shares were trading up $1.33 to $5.37.
CryoLife (CRY) surged 20% after the biosurgical device company said the FDA approved its new 10-milliliter disposable syringe for BioGlue surgical adhesive. The BioGlue syringe is already available in the U.S. in 2-milliliter and 5-milliliter volumes. The 10-milliliter syringe, which is already being used in Europe, will be introduced into the U.S. market late in the first quarter, the company said. "The 10ml BioGlue Syringe provides surgeons with an effective adhesive in an easy-to-use, self-contained, disposable syringe, ideally suited for complex cardiovascular surgery procedures," CryoLife said in a statement. Shares were trading up 78 cents to $4.60.
Shares of Rockwell Medical Technologies (RMTI) rose 5% after the dialysis products maker received a $13 million purchase order for dialysis concentrate and supplies. The order is for dialysis business in Latin America. Rockwell said it anticipates fulfilling the entire order during 2006. "We anticipate that this order will have a favorable impact on both our sales and earnings during 2006," the company said. Shares were trading up 21 cents to $4.63.Schiff Nutrition (WNI) fell 3% after the maker of nutritional supplements posted a big decline in second-quarter earnings and sales. The company, which was previously known as Weider Nutrition, earned $1.5 million, or 6 cents a share, on sales of $35.5 million. During the year-ago period the company earned $3.5 million, or 13 cents a share, on sales of $44.3 million. The sales decline, which was expected, was primarily due to the discontinuance of a private-label business, the company said. Shares were trading down 14 cents to $5.10.
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