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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
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
--Written by Adam Feuerstein in Boston.
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