Looks like Panretin clinicals may have started a trend:
Immunex , Scios help sustain biotech rally
NEW YORK, Sept 11 (Reuter) - A month-long rally in the
biotech sector received a sustaining boost of adrenalin on
Thursday as shares of several companies, led by Immunex Corp,
surged on favorable clinical data and other factors.
Immunex soared 10-1/8 to 53-5/8, or 23 percent, after the
Seattle company said earlier in the day that a Phase III trial
of its candidate drug for rheumatoid arthritis, Enbrel, showed
patients made significant improvement.
Scios Inc SCIO.O jumped 1-3/4 to 9, or 24 percent,
following its announcement late Wednesday of positive Phase III
data for Natrecor, its drug for congestive heart failure.
Sepracor Inc rose 3-1/16 to 28-1/4 after Morgan Stanley
initiated coverage of the Marlborough, Mass., company with a
strong buy rating.
Sepracor in July filed an application with the U.S. Food
and Drug Administration to market a purified version of the
generic asthma medicine albuterol, with aims of seizing a large
slice of its annual $1.5 billion market.
XOMA Corp also held the spotlight, gaining 13/32 to 6-11/16
in exceptionally heavy trade of almost 3.8 million shares -- on
optimism of favorable trial data in upcoming weeks on its
experimental anti-infective drug, Neuprex. |
