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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jerry Olson who wrote (89688)3/22/2000 1:25:00 PM
From: Ryan Mak  Read Replies (1) of 120523
 
SCLN ... from briefing.com:

SciClone Pharmaceuticals Inc. (SCLN) 15 9/16 +4 3/16: Interest in biotechnology stocks continue to entice investor interest, despite the shellacking this group has recently taken after the biotech index almost doubled in less than three months. The recent price retracement has not scared all investors as momentum players are bidding up the price of this developer of pharmaceuticals for chronic and life-threatening diseases after the company reported that its lead drug Zadaxin for the treatment of of liver cancer, had been granted FDA orphan drug status. According to SciClone, orphan drug status grants the company with U.S. marketing exclusivity for seven years upon receiving marketing approval, as well as significant tax benefits and exemptions from FDA application fees. And with hepatocellular carcinoma accounting for more than 80% of all primary liver tumors, Zadaxin has a chance of providing significant benefit to the company should it pass additional efficacy clinical trial studies. According to SciClone, it plans to start US Phase II liver cancer trials in Q3 of this year. Just on Friday, the company reported that Zadaxin had been approved for marketing in 19 countries, principally for treatment of hepatitis B and hepatitis C. With the stock having recently retreated from a six-year high of 23 3/4, SCLN is again attracting a following, trading more than 2.2 million shares just before the lunch hour, almost doubling its three-month daily average of 1.16 million shares. Renewed interest in stocks like SciClone have also allowed the biotechnology index to gain 7.88% this morning, reversing the recent weakness noted in this group, though the index is still 23% off the high reached less than two weeks ago.
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