Monday's Health Winners & Losers

Biotech shares sank but big pharma stayed afloat Monday, amid scattered safety and FDA news.

One of the smaller stocks bucking the downward trend was Cardiome Pharma(CRME Quote), which announced positive interim results from a 90-day midstage study of oral vernakalant for atrial fibrillation, or irregular heart rhythm. It also signaled that it is up for sale.

The ongoing trial of oral vernakalant was designed to find the appropriate dose to take into late-stage testing, and to further assess safety. The company said the interim analysis demonstrated statistically significant efficacy for the patient group receiving 500 milligram dose vs. placebo, and the drug was well-tolerated.

Cardiome said it hired Merrill Lynch as a financial advisor to evaluate partnership opportunities and alternative strategies that include acquisitions or a sale of all or part of the company. Shares shot up $2.23, or 36%, to $8.47. ...