Shares of Geron ( GERN - Get Report) were among the best-performing health-related stocks Monday, rising 26% after the company said that it signed a licensing agreement with Merck ( MRK - Get Report) to develop a cancer vaccine targeting telomerase, an enzyme that is active in most cancer cells.

As part of the agreement, Geron will receive an upfront payment, be eligible for milestone payments that are contingent upon certain development and regulatory events, and royalties. Merck also agreed to acquire equity in Geron at some point in the future as part of Geron's next round of financing. "Our decision to collaborate with Merck was an easy one to make. In the course of our discussions, we have been impressed with Merck's focus and commitment to developing cancer vaccines," Geron said. Shares of Geron were recently trading up $2.25 to $10.85.

Momenta Pharmaceuticals ( MNTA - Get Report) fell 4% after the company said it plans to sell 4 million shares of stock. The stock is being sold pursuant to a previously filed shelf registration with the Securities and Exchange Commission. Morgan Stanley is leading the underwriting syndicate. Shares were trading down $1.29 to $27.80.

Shares of Nymox Pharmaceutical ( NYMX - Get Report) fell 14% after a Food and Drug Administration panel voted 5-2 against approval of the kit form of the company's Alzheimer's test. The AlzheimAlert test remains approved for sale in the U.S. as a lab service through the company's clinical reference lab in New Jersey. The FDA doesn't have to follow the recommendation of the panel, but the agency typically does. Nymox said the panel "felt that more data was required for approval, including, for example, post-mortem verification and clarification of how to use the test results." Shares, which were halted for trading on Friday, were recently trading down 30 cents to $1.90.

BioDelivery Sciences International ( BDSI - Get Report) rose 19% after the company signed a development and licensing agreement with Clinical Development Capital. Under the agreement, Clinical Development Capital will provide up to $7 million in funding for phase III trials related to BioDelivery's BEMA Fentanyl product. BioDelivery will pay Clinical Development Capital a milestone payment and royalty payments based on sales of the product. BioDelivery previously disclosed that it plans to initiate phase III trials of BEMA Fentanyl during the second half of 2005. Shares were trading up 48 cents to $2.95.

Other health-care volume movers included Pfizer ( PFE), down 26 cents to $27.31; Eyetech Pharmaceuticals , down 85 cents to $12.60; Millennium Pharmaceuticals , up 10 cents to $10.04; Amgen ( AMGN), up 3 cents to $70.66; Elan ( ELN), up 52 cents to $7.87; IMS Health down 13 cents to $27.06; Genentech , down 92 cents to $88.66; StemCells ( STEM), up 2 cents to $5.90; UnitedHealth Group ( UNH), up 17 cents to $50.99; Johnson & Johnson ( JNJ), down 35 cents to $64.68; and WebMD ( HLTH), up 4 cents to $10.92.