Biotech stocks are on fire right now! A number of names in the space are making headlines, from companies related to swine-flu treatments to others that have very promising cancer drugs.

Take a look at shares of biotech firm Dendreon ( DNDN). The stock rose a whopping 100% on Wednesday following the company's release of positive data for its prostate cancer drug candidate Provenge. The full results, released on Tuesday, showed that the drug extended the median survival rate by four months, increased the three-year survival rate by 38% vs. the placebo and reduced the risk of death by 22.5%. The company hopes to get FDA approval for the drug sometime next year, and it's expected to be a billion-dollar blockbuster!

The positive news from Dendreon spilled over into some other interesting firms that also are working on cancer treatments, including Cell Genesys ( CEGE), Antigenics ( AGEN) and Oncothyreon ( ONTY). Investors bid up these stocks as they circled the market looking for the next Dendreon.

Another group of biotech stocks that have been on the move recently are companies that develop vaccines or treatments for fighting the flu. These stocks have surged as news broke of swine flu sweeping across the globe. Names such as BioCryst Pharma ( BCRX), Novavax ( NVAX), Gilead Sciences ( GILD) and Crucell ( CRXL) all soared, with some moving well over 100%.

In general, biotech stocks have the ability to make extremely large moves. When things go right for a biotech company, the stock can become all the rage among the investment community. This is mostly due to the huge potential for drugs that treat a large demographic or to a specific vaccine or treatment for a condition that is life-threatening. Drugs that fall into these categories are usually in high demand and can command premium prices. Premium prices lead to big profits and drive stocks up significantly higher.

With that in mind, let's take a look at a few speculative biotech stock charts that could be setting up to make significant moves either higher or lower in the near future.

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