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Biotech Winners: King Pharmaceuticals, Pain Therapeutics

For the most part Tuesday, biotech stocks finished in the green, following the broader market higher. The Nasdaq Biotechnology Index finished the day down 5.76 points at 914.15.

Alexca Pharmaceuticals (ALXA - Get Report) stock continued to decline after Monday's bloodbath, sparked by the FDA's decision to deny approval of the company's schizophrenia treatment.

By the closing bell Tuesday, Alexca shares paired earlier losses, finishing the session down 3% to $1.34 in another day of frantic trading. Investors wiped out half the company's market value during the previous session.

Elsewhere in the world of experimental tinctures, Geron (GERN - Get Report) stock continued to climb in the wake of the stem-cell drug developer's historic launch of human clinical trials Monday.

The stock closed at $6.37, adding another 12% Tuesday. Volume in Geron shares Tuesday was heavy again, surpassing 9 million. Average daily turnover is about 1 million.

-- Written by Scott Eden in New York P/>

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
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