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) 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) 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV