Healthcare Review: Threshold Pharmaceuticals, Cell Therapeutics, ACADIA Pharmaceuticals and Intellect Are Top Movers

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By Staff and Wire Reports   
Monday, 17 September 2012 13:12
icon_SectorWatchU.S. stocks retreated slightly on Monday after a recent win streak lifted the indexes to multiyear highs. Equities should continue to march higher given Federal Reserve Chairman Ben Bernanke’s announcement Thursday of a third round of quantitative easing — in this case, open-ended monthly purchases of mortgaged-backed securities. Several healthcare stocks are making notable news at mid day on Monday.
Threshold Pharmaceuticals, Inc.(NASDAQ:THLD) shares plummeted 20.32% to $6.95 after the company’s experimental pancreatic cancer drug didn’t significantly improve patients’ overall chance of survival. Patients treated with Threshold’s TH-302 plus chemotherapy had a median survival of 9.2 months compared with 6.9 months for those treated with only chemotherapy in the second of what are typically three phases of clinical studies needed for regulatory approval.

Intellect Neurosciences, Inc. (OTCBB:ILNS), an emerging biopharmaceutical company engaged in the discovery and development of disease-modifying therapeutic agents for the treatment of Alzheimer's and other neurological diseases saw shares trade higher than 22% on rumors of upcoming catalysts.

Danaher Corporation (NASDAQ:DHR) shares fell 0.26% to $54.90 in the early hour after IRIS International Inc announced that it has entered into a definitive merger agreement under which Danaher Corporation will acquire IRIS International for $19.50 per share in cash. An affiliate of Danaher is expected to commence a tender offer for all of IRIS's outstanding common stock within the next seven days, which offer will remain open for a minimum of 20 business days following commencement.

CEL-SCI Corporation (AMEX:CVM) continued a second session of strong trading after breaking out last Friday. Pending news developments relating to the firm’s PhaseIII clinical trials have speculators taking positions in the stock, although company officials will not confirm said rumors. Others simply attribute the rise to dissipating overhang from a previous financing.

Geron Corporation (NASDAQ:GERN)
shares gained 1.42% to $1.43 after the company announced the appointment of Andrew J. Grethlein, Ph.D., as Executive Vice President of Technical Operations. Dr. Grethlein will oversee the Company's manufacturing and quality functions. Dr. Grethlein joins Geron from Inspiration Biopharmaceuticals, where he was Executive Vice President and Chief Operating Officer from 2010 to 2012.

Cell Therapeutics Inc (NASDAQ:CTIC) stock climbed 3.12% to $2.97 in the morning hour. The company last week said that it has launched its recently approved oncology drug Pixuvri in the EU. Pixuvri was approved by EU regulators in May for the treatment of aggressive B-cell non-Hodgkin lymphoma, or NHL. Approximately 37,000 new cases of aggressive B-cell NHL are diagnosed in the EU every year

ACADIA Pharmaceuticals Inc.(NASDAQ:ACAD)
stock jumped 5.18% to $2.23. The company last week said that it has completed enrollment of its latest Phase 3 Pimavanserin trial, dubbed the -020 study. Pimavanserin is an oral treatment for Parkinson's Disease Psychosis, for which there is no FDA approved treatment available in the U.S.





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