Shares in

Amylin Pharmaceuticals

( AMLN) and

Alkermes

(ALKS) - Get Report

were among the best-performing health-related stocks Tuesday, after the companies -- along with

Eli Lilly

(LLY) - Get Report

-- reported positive results from a phase II multidose study of a long-acting release formulation of Byetta injection in patients who suffer from type 2 diabetes.

The study was designed to assess the safety, tolerability and pharmacokinetics of Byetta administered once a week. After 15 weeks, both doses of the injection were well tolerated. Dose-dependent improvements in hemoglobin A1C, a measure of glucose control, and weight were also observed, the companies said.

The most common side effect was mild nausea, which occurred in roughly 20% of the subjects in the high-dose group. About 7% of the placebo group experienced mild nausea. Shares of Amylin were recently trading up $5.68, or 26%, to $27.61; Alkermes was trading up $1.61, or 10%, to $17.44; and Eli Lilly was recently trading up $1.41, or 3%, to $54.12.

Oxigene

(OXGN)

rose 10% after the company presented positive data showing that its lead vascular disruption agent, Combretastatin A4 Prodrug, is doing well in combination trials with chemotherapy. The drug, in combination with carboplatin and paclitaxel, appears to be well tolerated and no drug-related, serious adverse events have occurred, the company said.

The data, which were presented by Dr. Gordon Rustin at the Ninth International Workshop on the Tumor Microenvironment Meeting being held in the U.K., "are encouraging from both a safety and an anti-tumor response perspective," the company said. Tumor response, as defined according to RECIST or CA125, has been seen in seven out of 12 evaluable patients with ovarian cancer, the company said. Rustin said he and his team remain on track to complete their current trial and remain optimistic about moving on to a multicenter phase II study that will evaluate the efficacy of the triple combination therapy in platinum resistant ovarian patients. Shares were recently trading up 50 cents to $5.31.

Shares of

Myriad Genetics

(MYGN) - Get Report

rose 8% after the company posted better-than-expected fourth-quarter results. The biopharmaceutical company reported a loss of $10 million, or 32 cents a share, on sales of $26.1 million. Analysts polled by Thomson First Call were expecting a bigger loss of 33 cents a share on sales of just $21.3 million. A year ago, the company reported a loss of $10.5 million, or 37 cents a share, on sales of $15.1 million. Shares were trading up $1.34 to $18.14.

ResMed

(RMD) - Get Report

rose 8% after the medical equipment company posted fourth-quarter results that topped forecasts. The company earned $15.6 million, or 43 cents a share, on sales of $125.4 million. Excluding incremental sales contributions from acquisitions, the company would have posted sales of $116.4 million. Excluding items, the company earned $21.7 million, or 60 cents a share. Analysts were expecting earnings of 55 cents a share on sales of $113.5 million. A year ago, the company earned $15.9 million, or 45 cents a share, on sales of $92.9 million. Shares were trading up $5.50 to $73.88.

Other health-care volume movers included

Pfizer

(PFE) - Get Report

, down 12 cents to $25.43;

Boston Scientific

(BSX) - Get Report

, down $1.18 to $25.97;

Merck

(MRK) - Get Report

, down 31 cents to $27.58;

Eyetech Pharmaceuticals

( EYET), unchanged at $18.13;

OSI Pharmaceuticals

( OSIP), up $1.03 to $32.95;

Panacos Pharmaceuticals

(PANC)

, down 78 cents to $9.52;

Johnson & Johnson

(JNJ) - Get Report

, down 65 cents to $62.85;

Bristol-Myers Squibb

(BMY) - Get Report

, down 28 cents to $24.46;

Schering-Plough

( SGP), down 15 cents to $20.87; and

Amgen

(AMGN) - Get Report

, down 57 cents to $78.62.