Wednesday's Health Winners & Losers
Shares of biotech Iomai (IOMI) soared nearly 25.3% to $6.39 after the company said it will receive a contract from the Department of Health and Human Services to develop a patch to improve the efficacy of small amounts of flu vaccine, to help cover more individuals in the event of a pandemic.
The company could receive research costs plus a fix fee totaling $128 million. The department has already allotted $14.5 million to cover performance under the contract through March 31, 2008, Iomai says.
Shares of drug developer Xoma (XOMA) jumped 6.4% to $2.50 after the company said it's expanding its collaboration with Schering-Plough (SGP) in the development of antibodies to treat cancer and immune diseases.
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