Tuesday's Small-Cap Winners & Losers
Telik (TELK) suffered a 71% freefall after the California-based biotech announced two disappointing late-stage clinical studies of its experimental cancer drug Telcyta. The trials, which compared the drug to existing therapies in advanced nonsmall-cell lung cancer and ovarian cancer, both failed to meet their primary endpoints of statistically significant improvement in overall survival. Shares were plunging $11.48 to $4.78.
Tecumseh Products (TECUA) jumped on an upgrade by a Robert W. Baird analyst to neutral from underperform. Shares of the Michigan-based compressor-products maker were up $1.99, or 12%, to $18.54.
EpiCept (EPCT) gained after the Tarrytown, N.Y.-based pharmaceutical company said it will license the rights to its back-pain treatment, a transdermal patch containing bupivacaine, for up to $1.9 million to Durect (DRRX). The licensee, a drugmaker based in Cupertino, Calif., will pay Epicept $1 million up front and an additional $9 million in milestone payments, plus royalties on future sales. EpiCept shares were up 13 cents, or 9.4%, to $1.52. Durect shares were slipping 4 cents, or 0.9%, to $4.45.
Adventrx Pharmaceuticals (ANX) shares swelled on news that the Food and Drug Administration had approved clinical testing of its proposed cancer drug ANX-530, deeming it to be bioequivalent to Navelbine, an existing cancer treatment approved for use in nonsmall-cell lung cancer. The San Diego company expects patient recruitment for the initial study to begin in January. Shares were gaining 13 cents, or 4.9%, to $2.77.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV