Biotech Sector Weekly Rewind
BOSTON (
) -- Adam Feuerstein's take on the biotech week that was Nov. 19, 2010:
The week's best-performing stocks in the sector:
Entremed
(ENMD)
(+41%),
IsoRay
(ISR) - Get Report
(+33%),
Exelixis
(EXEL) - Get Report
(+31%),
Apricus BioSciences
(APRI)
(+29%) and
China Shenghuo Pharmaceutical Holdings
( KUN) (+26%)
FDA advisory panel votes 13-2 to recommend the approval of
Human Genome Sciences'
( HGSI) lupus drug Benlysta. Read the
Human Genome FDA Panel Live Blog
Human Genome Hit by Benlysta Sales Worry
Takeda
rumored to be eyeing a competing takeover offer for
Genzyme
( GENZ).
RXI Pharmaceuticals
(RXII)
says still on track to sign a major RNAi drug partnership before the end of the year.
> > Bull or Bear? Vote in Our Poll
Frontpoint Partners
said to be
shuttering health care hedge funds
in wake of insider -trading allegations. (via New York Times)
The week's worst-performing stocks:
Aastrom BioSciences
(ASTM)
(-43%),
AP Pharma
(APPA)
(-28%),
Neostem
(NBX)
(-26%),
Vermillion
(VRML) - Get Report
(-20%) and
Alnylam Pharmaceuticals
(ALNY) - Get Report
(-19%)
Medicare panel endorses on-label use of
Dendreon's
(DNDN)
prostate cancer therapy Provenge.
Amgen
(AMGN) - Get Report
rumored to be considering acquisition of Swiss biotech firm Actelion.
Roche
cuts 4,800 jobs in a corporate restructuring
that also
axes the company's research efforts into RNAi drug
development. (via Pharmalot, In the Pipeline)
European regulators accept approval application for
Cell Therapeutics'
(CTIC) - Get Report
lymphoma drug Pixuvri.
Exelixis
(EXEL) - Get Report
: Interim phase II ovarian and prostate cancer data for XL184.
FDA advisory panel votes 8-7 with one abstention to recommend approval of
MELA Sciences'
(MELA)
MELAFind skin cancer detection device. Read the
Aastrom BioSciences
(ASTM)
presents interim phase II data on limb ischemia drug.
Resverlogix
(RVX.TO)
presents phase II data on cholesterol drug.
FDA approves
Amgen's
(AMGN) - Get Report
Xgeva for prevention of bone fractures in cancer patients.
Somaxon Pharmaceuticals
( SOMX) prices 8.8 million shares at $2.95 a share.
Pfizer
(PFE) - Get Report
and
Bristol-Myers Squibb
(BMY) - Get Report
halt study of experimental blood thinner apixaban due to an increase in bleeding.
Results from late-stage study show
Merck
(MRK) - Get Report
drug boosts good cholesterol levels and cuts bad cholesterol without safety risks
. (via Bloomberg)
Healthcare CEOs Make Big Dough
(via WSJ Health Blog)
(via InVivo Blog)
Avanir Pharmaceuticals
(AVNR)
sells 20 million shares at $4.40 a share.
--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
http://twitter.com/adamfeuerstein
.
>To submit a news tip, send an email to:
.
Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback;
to send him an email.
