Osiris Stem Cell Drug Fails: BioBuzz
With pixantrone's approval a Spring 2010 event, investor attention will likely turn now to the European review of Cell Therapeutics' lung cancer drug Opaxio (nee Xyotax.) The company is supposed to be meeting with European regulators this month to discuss Opaxio, with the possibility of an approval decision before year's end, according to the company. [I've had my say on Opaxio and its chances for approval already.]
Whether the longer pixantrone review will impact Cell Therapeutics guidance for reaching break even by the fourth quarter and a possible licensing deal with Novartis (NVS) is also unclear.
Cell Therapeutics is scheduled to present at the Rodman & Renshaw Global Investment Conference Wednesday, so perhaps a significant update is coming.
The Summer's Best and Worst Biotech Stocks
It's been a remarkable summer for stocks and biotech was no exception. The Nasdaq Biotechnology Index rose 21% between Memorial Day and Labor Day, exceeding the 15% gain in the S&P 500 for the same time period.
The biggest story of the summer, of course, was the monster gains in small- and mid-cap biotech and drug stocks. Here are the top-10 biggest returns from Memorial to Labor Day, according to Capital IQ: Jazz Pharmaceuticals (JAZZ): 1,017%Human Genome Sciences (HGSI): 938%
Targacept (TRGT): 466%
Inovio Biomedical (INO): 364%
Helicos Biosciences (HLCS): 355%
Gentium (GENT): 317%
IsoRay (ISR): 311%
Opexa Therapeutics (OPXA): 292%
Somaxon Pharmaceuticals (SOMX): 284%
Sinovac Biotech (SVA): 278% The summer's biggest losers: Repros Therapeutics (RPRX): -88%
Star Scientific (STSI): -75%
Matrixx Initiatives (MTXX): -65%
ARCA Biopharma (ABIO): -59%
Catalyst Pharmaceutical Partners (CPRX): -59%
RXi Pharmaceuticals (RXII): -57%
Discovery Labs (DSCO): -55%
Quigley (QGLY): -53%
GTC Biotherapeutics (GTCB): -51%
Insmed (INSM): -49% -- Reported by Adam Feuerstein in Boston
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
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
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- 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 Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
