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)
(+33%),
Exelixis
(EXEL)
(+31%),
Apricus BioSciences
undefined
(+29%) and
TheStreet Recommends
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
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says still on track to sign a major RNAi drug partnership before the end of the year.
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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
undefined
(-43%),
AP Pharma
(APPA)
(-28%),
Neostem
(NBX)
(-26%),
Vermillion
(VRML)
(-20%) and
Alnylam Pharmaceuticals
(ALNY)
(-19%)
Medicare panel endorses on-label use of
Dendreon's
(DNDN)
prostate cancer therapy Provenge.
Amgen
(AMGN)
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)
lymphoma drug Pixuvri.
Exelixis
(EXEL)
: 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
undefined
presents interim phase II data on limb ischemia drug.
Resverlogix
undefined
presents phase II data on cholesterol drug.
FDA approves
Amgen's
(AMGN)
Xgeva for prevention of bone fractures in cancer patients.
Somaxon Pharmaceuticals
( SOMX) prices 8.8 million shares at $2.95 a share.
Pfizer
(PFE)
and
Bristol-Myers Squibb
(BMY)
halt study of experimental blood thinner apixaban due to an increase in bleeding.
Results from late-stage study show
Merck
(MRK)
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.
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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;
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