This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

ASCO: Cancer Stock Winners, Losers

BOSTON ( TheStreet) -- Shares of Vical (VICL - Get Report) and Agenus (AGEN - Get Report) were up while Oxigene (OXGN) and Ariad Pharmaceuticals (ARIA - Get Report) slipped in early Thursday trading of cancer drug stocks on the morning after the release of research abstracts for the upcoming American Society of Clinical Oncology (ASCO) annual meeting.

Wednesday night's release of ASCO research abstracts -- short, preliminary summaries of efficacy and safety data from cancer drug clinical trials -- serves as a warm-up for the medical society's closely watched meeting June 3-7. The ASCO abstract release is a closely watched event for Wall Street because the revelation of new cancer drug data often has a significant effect on biotech and drug stocks.

Yet this year, the ASCO abstracts yielded relatively little new or groundbreaking data, which may be disappointing traders and leading to relatively mundane moves in so-called "ASCO stocks."

Gainers Thursday include Vical, which is developing a skin cancer vaccine, up 2% to $4.32 a share. Agenus, developer of an early-stage brain tumor vaccine, is also up 3% to 97 cents a share.

The biggest losers Thursday morning were Oxigene, falling 8% to $4.72 a share. Oxigene had been the hottest ASCO stock going into Wednesday night's abstract release, making it an ideal candidate for a sell-on-the-news reaction.

Ariad fell 5% to $8.71. Positive results from a phase III study of the company's sarcoma drug ridaforolimus were previously disclosed, but new data released Wednesday night showed a non-statisically significant trend toward improved survival.

Other ASCO stocks in the green Thursday (although some just barely) included Exelixis (EXEL - Get Report), YM BioSciences (YMI), Pharmacyclics (PCYC) and Medivation (MDVN).

ASCO stocks falling Thursday included Onyx Pharmaceuticals (ONXX), down 5% to $43.21, whose approved kidney cancer drug Nexavar may face new competition from a new Pfizer (PFE) drug, axitinib, which reported positive phase III results last night. Also down were Aveo Pharmaceuticals (AVEO) and Nektar Therapeutics (NKTR).

--Written by Adam Feuerstein in Boston.

>To contact the writer of this article, click here: Adam Feuerstein.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
ONXX $0.00 0.00%
AGEN $5.16 5.52%
ARIA $8.56 2.03%
EXEL $2.70 6.30%
OXGN $1.44 1.41%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

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