AEterna Zentaris, Akorn: Midday Volume Plays

NEW YORK (TheStreet) -- AEterna Zentaris (AEZS) was among several stocks trading near $5 were moving on above-average volume during Thursday's session after the company said it had received positive scientific advice from a European regulatory body.

AEterna Zentaris said the European Medicines Agency (EMA) assured the acceptability of the company's Phase III programs for its lead anti-cancer drug, perifosine, for treatment of multiple myeloma and refractory advanced colorectal cancer. The EMA's advice indicates, in principle, that AEterna's study is considered sufficient to provide all data necessary to support a marketing authorization of perifosine in combination with bortezomib. Planned electrocardiogram (ECG) evaluations included in the Phase 3 study will suffice to assess the cardiac safety of perifosine, the EMA found.

AEterna Zentaris shares were jumping by 20 cents, or 14.5%, to $1.58. Volume topped 7.67 million shares, compared to the 50-day average daily volume of 784,000, according to the Nasdaq.

Elsewhere, Akorn (AKRX) rallied by 23 cents, or 16.2%, to $1.65 after the company said it has received clearance the U.S. Food and Drug Administration to market a generic version of the painkiller Dilaudid-HP. Akorn said it plans to start shipping the product next month. Volume topped 1.38 million shares, compared to the 50-day average daily volume of 205,000.

Anadys Pharmaceuticals (ANDS) rose by 30 cents, or 11.3%, to $2.90 after the company said 72% of patients taking its ANA-598 hepatitis C drug had undetectable levels of virus at week eight in an ongoing Phase II study, compared to 38% of patients receiving placebo. Volume topped 9.11 million shares, compared to the 50-day average daily volume of 534,000.

Trico Marine Services (TRMA) continued to trade on heavy volume one day after the company announced the sale of one of its North Sea class vessels for approximately $16 million to a buyer in Asia. In addition, Trico Marine announced new contract awards representing over $25 million in value relating to new subsea contract awards for projects in the North Sea.

Shares of Trico Marine Services were lately down by a penny to $3, following Wednesday's 30% rally. Volume topped 1.55 million shares, compared to the 50-day average daily volume of 571,000.

-- Written by Robert Holmes in Boston.

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