Molecular Insight Jumps As Market Meets Overhaul Plan With Mixed Reviews |
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| By M.E.Garza | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wednesday, 17 June 2009 12:15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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After the Obama administration unveiled its plans for a major regulatory revamp, stocks settled in to a mixed finish for the day. The plan, which gives increased power to the Federal Reserve and creates a new national regulator for financial firms was met with skepticism from traders, who doubt whether the effort will strike the right balance between curbing the excesses and boosting profits. In the health care sector, stocks were definitely more animated than they were yesterday.
ChemGenex Pharmaceuticals Ltd., $15.51 +2.51 (19.31%)-- The Australian drugmaker, said earlier this month that thier experimental leukemia drug killed stem cells that cause the disease in laboratory experiments, suggesting it could be used to help cure some patients. The open label Phase 2/3 study (CGX-635-CML-202) investigated the use of omacetaxine, administered subcutaneously in CML patients who had failed imatinib and who have the highly drug resistant T315I kinase domain mutation. This is a little known stock whose price moves significantly on little volume. Thos interested in learning more about this company and it's promising drug can wtch the Chemgenex investor presentation-- including a very interesting teleconference with questions from analyst and investors.: http://www.chemgenex.com/wt/uber/webcast_1 Antigenics, Inc.(Public, NASDAQ:AGEN) announced that GlaxoSmithKline has launched a Phase 3 study of a malaria vaccine which contains Antigenics' QS-21 component. This marks the 15th vaccine under clinical trial containing QS-21. If GlaxoSmithKline's study produces positive results as is expected, the vaccine could be submitted to regulators for review by 2011, could be introduced for children by 2012, and could have full availability by 2014, potentially saving hundreds of thousands of lives a year. Antigenics shares gained over 6.9% in Wednesday trading to $2.06. Novavax, Inc.(NASDAQ:NVAX), whose shares had been climbing recently, lost 8.9% to $2.33 -0.23 as day traders began to worry that Novavax may not be the "winner" in the race for a big flu-vaccine contract after all. Other companies like Baxter International Inc.(NYSE:BAX) the Chinese Sinovac Biotech Ltd.(Public, AMEX:SVA) are in the race and Novartis (NYSE:NVS), GlaxoSmithKline plc (NYSE:GSK) and Sanofi-Aventis (NYSE:SNY) all have contracts in case of a huge outbreak in the Unites States. Meanwhile, investors feel that the company's price per share will go up at some point since the technology NVAX uses is safer, less expensive, and scalable. . Other Movers This Wednesday:
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