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Thursday's Health Winners & Losers

Updated from 2:25 p.m. EDT

Study updates launched and sank a few biotech stocks Thursday while the overall mood was grim.

Corcept Therapeutics (CORT - Get Report) closed up 23.2% after saying preliminary top-line results showed a statistically significant reduction in weight gain in patients who took olanzapine plus corlux compared to those who took olanzapine alone in a two-week, male-only, proof-of-concept study. The announcement managed to pump the stock 33 cents to $1.75.

Pharmaceutical company Vivus (VVUS - Get Report) said it finished a meeting with the Food and Drug Administration, following the completion of its phase II program for investigative obesity treatment Qnexa. As a result of the meeting, the company said it will dose 4,500 patients in a pivotal 56-week phase III program studying obese patients and obese patients with associated comorbidities, or conditions that exist in addition to obesity such as type 2 diabetes, hypertension and dislipidemia.

It intends to initiate enrollment this fall and is preparing an application for special protocol assessment for the drug as a treatment for obesity in the U.S. After rising 16 cents to $5.17 in premarket trading, the company was hugging the flat line, down 5 cents to $4.96.

Vivus is part of the Nasdaq biotechnology index, which was up less than 1 point at 812.61.

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SYM TRADE IT LAST %CHG
ADLS $0.02 25.00%
CORT $3.39 0.30%
VVUS $2.60 -3.50%
VRX $198.97 -1.10%
AAPL $129.94 -0.37%

Markets

DOW 18,199.62 -14.80 -0.08%
S&P 500 2,111.13 +0.39 0.02%
NASDAQ 4,980.4690 -7.4210 -0.15%

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