Updated from 2:13 p.m. EDT
Biotech and pharmaceutical stocks generally tracked the climbing broader market indices Thursday, but among those bucking the trend was
, which was still smarting from a U.S. regulatory hit the day before.
Advisers to the Food and Drug Administration recommended the agency
reject Sanofi's Zimulti, which is sold in foreign markets under the name Acomplia, in part over concern that the weight-loss drug increases the risk of suicidal thinking.
Shares of France-based Sanofi closed down $1.74, or 4%, to $41.33, and that weighed on the Amex Pharmaceutical Index, of which Sanofi is a component. The index was down 0.4% at 352.07.
Getting a regulatory lift, however, was
. The Israel-based gastrointestinal diagnostics company climbed 5.2% higher after receiving FDA clearance for its next-generation PillCam ESO 2 video capsule for imaging the esophagus. Exclusive U.S. marketing rights for PillCam ESO have been granted to InScope, a division of Ethicon Endo-Surgery, a
Johnson & Johnson
company. Given Imaging was up $1.31 at $26.38.
Study news also moved stocks in the sector. Swinging more than 12% higher was
, which announced after Wednesday's market close that it had begun dosing patients in a phase II trial for Gabapentin GR for the treatment of menopausal hot flashes. Gabapentin GR is an extended-release formulation of gabapentin, an FDA-approved drug for the treatment of seizures and postherpetic neuralgia. DepoMed closed up 54 cents at $5.
Taking the downward tack on study results was
( BTRX), which announced results of a phase II/III study of a dermatology treatment that missed statistical significance for the study's primary endpoint. The pharmaceutical company said it has no plans to further develop liarozole, which was meant to treat lamellar ichthyosis, a rare genetic disorder that causes thick scaling of the skin. Shares closed down 24 cents, or 3.7%, at $6.32.
Biotechnology Index, of which both DepoMed and Barrier Therapeutics are components, was up 0.6% at 823.43.
Also on the downside was
, which lowered its 2007 revenue forecast to a range of $31 million to $33 million compared with the previous range of $38 million to $44.5 million. The single-analyst estimate from Thomson First Call anticipates revenue of $42.8 million. Shares of the Eatontown, N.J., health-care management systems provider were down 5 cents, or 1.6%, at $3.14.
( GORX) moved higher after announcing a deal to buy EZ-Med Technologies, a company that manufactures a patented soft-textured chew technology, for an undisclosed amount. GeoPharma's shares closed up 9 cents, or 2.2%, at $4.
Among other winners Thursday were
( GNLB), which climbed 13% after Oppenheimer initiated coverage of the biopharmaceutical company with a buy rating, and
Oculus Innovative Sciences
, which continued climbing a day after announcing a licensing deal for its first-response pen-like applicator for cuts, minor burns and skin irritations. Genelabs, of Redwood City, Calif., closed up 26 cents, at $2.26, and Petaluma, Calif.-based Oculus was up 47 cents, or 6.6%, at $7.63.