Monday's Health Winners & Losers
Health stocks kept slightly green Monday amid an array of news, including trial updates, turnover and turmoil in general.
First, Acorda Therapeutics (ACOR) tacked on 25% to $27.20 Monday after the company said a study showed its experimental multiple sclerosis drug Fampridine didn't cause an increase in the electrocardiographic QT interval in comparison to placebo.
The Food and Drug Administration requires companies to conduct QT studies on drugs because changes to the QT interval, a measure of time between waves in the heart's electrical cycle, can indicate risk of cardiac arrhythmias. The company expects data in the second quarter of this year from a second phase III study of the drug, which is currently being studied for improving walking ability in people with multiple sclerosis.
Another stock up on high volume, Medivation (MDVN) said that after discussing midstage trial results with the FDA it now plans to move Alzheimer's treatment candidate Dimebon into late-stage development.The company is holding a conference call Monday at 4:30 p.m. to discuss the decision. Watch for more on Medivation and this call from TheStreet.com senior columnist Adam Feuerstein. Shares were up 12.2% at $16.66. Meanwhile, inching down a few percentage points, Biogen Idec (BIIB) said Monday that activist investor Carl Icahn has
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