Shares of

Encysive Pharmaceuticals

( ENCY) were among the best-performing health-related stocks Friday, vaulting 36% after the drug developer said that a European Commission advisory agency recommended the approval of the company's Thelin, which is used to treat patients with pulmonary arterial hypertension.

"The CHMP recommended approval of Thelin for the treatment of patients with pulmonary arterial hypertension classified as World Health Organization functional class III, to improve exercise capacity," the company said. The opinion will now be analyzed by the European Commission, Encysive said. A final decision regarding the marketing approval for Thelin is expected within 90 days. If the drug is approved, the company would be able to market the drug in all 25 member states of the European Union. Shares were trading up $1.57 to $5.89.

Threshold Pharmaceuticals

(THLD)

jumped 13% after an independent data-monitoring committee said the company could take its Phase III trial of glufosfamide to completion. Glufosfamide is being developed for use in patients with metastatic pancreatic cancer. "This is an important milestone in the development of this novel therapy," the company said. "We anticipate announcing top-line results at the end of the fourth quarter this year." Shares were trading up 51 cents to $4.55.

Shares of

Generex Biotechnology

(GNBT)

fell 5% after the company agreed to sell stock and warrants worth about $13.5 million. The drug-delivery systems company agreed to sell more than 3.4 million shares of restricted stock to four investors at $2.05 a share. Generex also issued a five-year warrant to buy nearly 2.6 million shares at a strike price of $2.45 a share. Additionally, the company and investors agreed to amend and accelerate the exercise date on previously issued warrants to June 1. The warrants to buy the stock, which have strike prices of $1.25 and $1.60 a share, previously had exercise dates of Aug. 28 and July 23, respectively. The accelerated exercise date allowed the investors to buy another 4.36 million shares of stock. Generex shares recently had dropped 9 cents to $1.87.

Alphatec

(ATEC) - Get Report

shares fell 5% on the medical-device maker's first day of trading as a public company. The company's initial public offering priced 9.3 million shares at $9 apiece, well below the projected range of $13 to $15 a share. The company, which raised about $71 million in the offering, plans to use proceeds to expand its sales and marketing efforts, for research and development, debt payment and for general corporate purposes. The company also granted underwriters an option to buy an additional 1.4 million shares to cover overallotments. Deutsche Bank Securities and First Albany Capital led the underwriting syndicate. Alphatec shares were trading down 44 cents to $8.56.

Other health care volume movers included

Pfizer

(PFE) - Get Report

, up 23 cents to $24.13;

UnitedHealth Group

(UNH) - Get Report

, up $1.28 to $47;

Boston Scientific

(BSX) - Get Report

, up 7 cents to $20.52;

Merck

(MRK) - Get Report

, up 20 cents to $34;

Amgen

(AMGN) - Get Report

, down 11 cents to $68.68;

Elan

(ELN)

, down 18 cents to $19.03;

Johnson & Johnson

(JNJ) - Get Report

, up 6 cents to $60.71;

Teva Pharmaceutical

(TEVA) - Get Report

, up 5 cents to $37.33; and

Bristol-Myers Squibb

(BMY) - Get Report

, up 8 cents to $25.23.