This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wednesday's Small-Cap Winners & Losers

Insmed (INSM) lost nearly half its value after the Virginia-based biotech settled a patent infringement lawsuit brought by California's Tercica (TRCA) (which soared more than 22% on the news) and Genentech (DNA) regarding Insmed's Iplex drug, which is indicated for short-stature conditions. In December, a U.S. District Court found Insmed had violated Tercica's patents.

Insmed no longer needs to pay any damages to the two companies, but it is still barred from developing the drug for short-stature indications. If Insmed develops Iplex for certain other permitted indications, Tercica or Genentech can opt in for a 50-50 cut of the profits while paying half the development costs. Insmed needs to pay Genentech royalties on any and all future Iplex products, and at a higher rate if Tercica chooses to opt in.

Insmed is restructuring as a result of the settlement. The company is eliminating its sales and marketing group and scaling back production at its Boulder, Colo., manufacturing site. It will reduce its 150-person workforce by 34%. Insmed shares were losing 75 cents, to trade around 80 cents. Tercica was soaring $1.11, to $5.99. Genentech was off 36 cents to $81.92.

BPZ Energy (BZP) shares were leaping after the Houston-based driller reported positive testing from its well off the coast of northwest Peru. Natural gas flowed at a rate of 40 million cubic feet per day and crude oil at 3,150 barrels a day, the company said. Shares were up 67 cents, or 13.5%, to $5.65.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
FRN $14.01 0.00%
INSM $22.63 0.00%
PED $0.70 0.00%
RCKY $21.95 0.00%
AAPL $124.75 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs