jumped 12.3% after the company said late Tuesday it has a deal with
(MRK - Get Report)
to develop cancer drugs. Avalon was recently higher by 57 cents at $5.20.
(PDLI - Get Report)
was rising after First Albany upgraded the biotech company to neutral from underperform. PDL was recently adding 60 cents, or 3.3%, at $19.04.
On the other hand,
slumped more than 25% after the company's angina drug Ranexa was found to be ineffective in a study when used to treat acute coronary syndrome. Shares were recently losing $3.12 to $9.18.
(PGNX - Get Report)
dropped after saying late Tuesday it will partner with
to reformulate its methylnaltrexone drug for a proposed treatment for side effects of opioid analgesics. However, the companies do not expect to file a new drug application with the Food and Drug Administration until the end of 2009. Progenics was down $3.33, or 12.4%, to $23.43.
Among other health care winners,
was surging 23% to $6.
was higher by 2.2% at $13.03.
(PFE - Get Report)
was gaining 1% to $25.43.
was losing 2.6% at $25.98.
was lower by 1.3% to $43.60.
slipped 1% to $30.94.