Shares of

Rigel Pharmaceuticals

(RIGL) - Get Report

rose Tuesday after the company announced positive results from early studies on a leukemia and lymphoma drug.

Data on the treatment, dubbed R788, were presented at the American Society of Hematology annual meeting and published in the Journal of Experimental Medicine. The company also filed an investigational new drug application with U.S. regulators for approval to begin human trials on the treatment. Shares were up 1.6% to $11.94.

Specialty pharmaceutical company



gained 2.6% to $3.20 after the company announced positive trial results on its proposed pain drug Gabapentin GR. Data showed that the treatment was effective in patients with the nerve disorder diabetic peripheral neuropathy.


(EPIX) - Get Report

shares surged 32.6% to $7.32 after the company announced that


(GSK) - Get Report

will buy 3 million shares of the company as part of a collaboration agreement. The deal covers the development of drugs using so-called G-protein coupled receptors to develop treatments for a number of diseases, including Alzheimer's.

Targeted Genetics

(TGEN) - Get Report

announced that it has licensed to

Amsterdam Molecular Therapeutics

two patents which were issued to the University of Pennsylvania and exclusively licensed to Targeted Genetics. The patents cover certain drug technologies related to conditions disrupting the normal fat breakdown processes within the body. Shares gained 3.2% to $6.43.

Shares of

Indevus Pharmaceuticals

(IDEV) - Get Report

sank 10.8% to $7.01 after the company agreed to buy

Valera Pharmaceuticals

(VLRX) - Get Report

for $7.75 a share in stock, or $120 million, plus contingent payments of up to $3.50 per share based on the achievement of future product milestones. Indevus will gain urology and endocrinology-related products as a result of the acquisition. Valera's shares jumped 47.1% to $7.96.

Among healthcare gainers Tuesday,


(GSP) - Get Report

rose 1% to $52.95,

Barr Pharmaceuticals

( BRL) added 1% to $51.08,

Halozyme Therapeutics

( HTI) gained 14% to $7.07 and

Allos Therapeutics

( ALTH) gained 2.5% to $6.93.

Among decliners,

Biogen Idec

(BIIB) - Get Report

fell 1% to $50.82,

Arena Pharmaceuticals

(ARNA) - Get Report

lost 3.7% to $13.73,

Keryx Biopharmaceuticals

(KERX) - Get Report

dipped 1.9% to $14.26,

Vertex Pharmaceuticals

(VRTX) - Get Report

sank 3.5% to $39.69 and

Advancis Pharmaceutical

( AVNC) lost 6.3% to $3.42.