Market Movers - SCLN, HEB, SPPI, CRTX and KV.A

Certainly, both companies have those things in common, but comparing the descriptions of SciClone's Z A D A X I N™ and HEB's AMPLIGEN really gets people talking.

Both treatments have multiple uses and potential applications in treating a number of diseases when used alone or in combination with interferon. Those distinct qualities have caused some to attach a descriptive "too good to be true" label to the drugs, yet both companies continue to meet clinical goals and invest substantial amounts of investor funds into their development.

HEB closed at $2.01 up from yesterday's lows of $1.70 following some positive feedback at the company's shareholder's meeting in Philadelphia today. As previously reported, that meeting almost didn't take place. As with last year's HEB meeting, there was an extremely low turnout. Even with the quorum lowered to 40% for the meeting, only approximately 40.34 % of the company's outstanding shares voted to even hold the standard meeting. Hemispherx believes that this was due to the fact that most of it's shares are held outside the United States and European  banks that do not  participate in the proxies of American  companies. Still, the few investors who did turn-out for the event report that they were impressed with the company's new Senior Vice President, Robert Dickey, who was hired to facilitate strategic partnering and clinical progress. In addition, there were further open discussions about the fact that they have not heard from the FDA and that their manufacturing facilities have been expanded in preparation for the production of Ampligen.

HEB is expected to be added to the Russell 3000 after reconstitution is finalized on Friday June 26, 2009. That news caused Motley Fool's Dan Caplingerto zero in on the company today stating that many investors rush to buy shares of newly added companies in an attempt to beat the index funds to the punch.

Other movers today include, Spectrum Pharmaceuticals, Inc.(NASDAQ:SPPI) which remains a mostly undiscovered stock from our BioMedReports FDA Calendar of Upcoming Events. The company is smack in the middle of a rare situation. The phenomenon? SPPI has not one but two late-stage drugs up for approval and both the drugs exhibit extremely good odds for approval. Last week, it looked like investors were ready to pounce on this stock but the recent losing streak of the overall market may have gotten in the way. That appears to be changing.

As BioMedReports' Justin Hall previously reported, SPPI is hoping for approval for their non-Hodgkin’s lymphoma (NHL) radio-immunotherapeutic, Zevalin next week (July 2, 2009). With approval, SPPI plans to market Zevalin as first-line consolidation therapy for NHL. In doing so, SPPI expects to make this effective treatment available to a greater number of those suffering with the illness- an estimated 28,000 patients. Over the next 12 to 18 months, sales of Zevalin are highly likely to surge, which should translate into a big win for SPPI shareholders.

The second date falls on October 8. On that date, SPPI will seek approval for yet another cancer drug, Fusilev. Like Zevalin, Fusilev is also already approved by the FDA for osteosarcoma or bone cancer. Fusilev is indicated for colorectal cancer, which affects many more Americans than osteorsarcoma. Fusilev is already approved in Europe and sold under a different trade name. Outside of the United States, sales of Fusilev, attributed to colorectal cancer, are approximately $200 million.  As you can see, this is a low-risk, high-reward investment that could pay big. Shares rose 11.64% to $5.85 +0.61 on Wednesday.

Cornerstone Therapeutics, Inc.(NASDAQ:CRTX) is a stock that has been on the move since Cornerstone BioPharma Holdings, Inc. and Critical Therapeutics, Inc. combined with named a new board of directors in November. Shares were trading at $0.25 and immediately jumped ten-fold on the news. The specialty pharmaceutical company focused on developing and commercializing prescription medications for respiratory disorders, has been on a tear ever since. Nothing has slowed them down. Not even news that the Food and Drug Administration requested a precaution in the prescribing instructions for their drug Zyflo. The FDA insisted that the company include a precaution that the drugs might cause neuropsychiatric events like agitation, depression, insomnia, and suicidal thinking. That was last week. Today, shares continue to climb to $11.19 +1.13 (11.23%).

Also on Wednesday, K-V Pharmaceutical Company (NYSE:KV.A) said that its board of directors' auditing committee has completed a probe of the company and found "deficiencies" in the conduct of certain members of senior management, KV's financial analysis controls, employment policies and instances of noncompliance with Food and Drug Administration and other health care regulations. Shares rose to $2.91 +0.28 (10.65%).

Here are the rest of the healthcare sector's movers for Wednesday, June 24, 2009:

BiomedReports is not paid or compensated to report news and developments about publicly traded companies. Full disclosure can be read in the About Us Section

---

Add this page to your favorite Social Bookmarking websites