This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

SciClone: Pump Up the Volume

Stocks in this article: SCLN

FOSTER CITY, Calif. ( TheStreet) -- SciClone Pharmaceuticals (SCLN) was trading sharply lower on a jump in volume after the company said it ended a clinical trial of its late-stage pancreatic cancer drug treatment.

SciClone late Friday said it discontinued a placebo-controlled, double-blind Phase 2 trial of its RP101 drug candidate for the treatment of late-stage pancreatic cancer. The company said the decision to end the trial came on the recommendation of the Data Safety Monitoring Committee.

RP101, also known as BvdU, is a nucleoside analog which has shown, in several preclinical and clinical studies, the potential to prevent the induction of resistance to chemotherapy by suppressing genes involved in development of that resistance and enhancing sensitivity to chemotherapy, SciClone said in its statement.

SciClone shares were sinking on big volume. The stock was lately falling 63 cents, or 15.2%, to $$3.52, making it one of the Nasdaq's worst performers Monday. Earlier in the session, the stock touched an intraday low of $3.31.

More than 1.5 million shares changed hands by 2 p.m. Monday, compared to the stock's 50-day average daily volume of 700,000, according to the Nasdaq. SciClone has a 35.7 million-share float with a short interest float of 3.2% as of Sept. 10, according to Yahoo! Finance. More than 37% of the company's shares are held by insiders with another 15% owned by institutions.

Some investor posts on Internet message boards argued that despite SciClone's setback with RP101, the company has more prospects in the pipeline. Other traders said that SciClone has seen too many trials fail outside of China.

Read more about today's high-volume stocks like Frontier Financial in earlier "Pump Up the Volume" posts.

-- Written by Robert Holmes in New York.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim 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 NOW
Only $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 NOW

David 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 NOW

Jim 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 NOW

All 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 Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our 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
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!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs