Healthcare Review: Acorda Therapeutics, DARA Biosciences, Cell Therapeutics, Illumina Are Top Movers Print E-mail
By Staff and Wire Reports   
Tuesday, 02 October 2012 13:17
U.S. stocks were mixed to lower in a volatile session on Tuesday on uncertainty over a financial bailout for Spain and as investors worried about disappointing third-quarter U.S. earnings. Spain was said to be ready to ask the euro zone for help, but Prime Minister Mariano Rajoy said a request wasn't imminent. In addition, Germany has signaled that Madrid should hold off on making its request, according to European officials on Monday.

Several healthcare stocks are making notable news at mid day on Tuesday.

Acorda Therapeutics Inc(NASDAQ:ACOR)
stock climbed 4.09% to $26.59. The 52 week trading range for the company is $18.36 - $27.74. The shares of the company climbed 32% in the last one year. The company is a commercial-stage biopharmaceutical company. The Company is engaged in the identification, development and commercialization of novel therapies that improve neurological function in people with multiple sclerosis (MS), spinal cord injury (SCI), and other disorders of the nervous system.

DARA Biosciences Inc(NASDAQ:DARA)
shares increased 3% to $1.03. The company announced that on October 1, 2012, NASDAQ notified the Company that it has regained compliance Rule 5550(a)(2), which requires a minimum bid price of $1.00 for continued listing on the NASDAQ Stock Market. The Company further announced that in light of the Company’s regaining compliance with the Minimum Bid Price Rule, the special meeting of stockholders that was scheduled to take place on November 8, 2012 to consider a reverse stock split proposal has been cancelled.

Illumina, Inc.(NASDAQ:ILMN)
stock increased 4.82% to $51.39. The company, on Sept. 19, said it has acquired Cambridge, U.K.-based BlueGnome Ltd. for an undisclosed sum. BlueGnome, now a wholly owned subsidiary of Illumina, is a provider of solutions for the screening of genetic abnormalities associated with developmental delay, cancer, and infertility.

Cell Therapeutics Inc(NASDAQ:CTIC)
stock soared 16.59% to $2.60 after the company announced that OPAXIO (paclitaxel poliglumex) has been granted orphan-drug designation by the U.S Food and Drug Administration (FDA) for the treatment of glioblastoma multiforme (GBM), a malignant brain cancer. Orphan designation was granted based on preliminary activity seen from phase 2 results of OPAXIO when added to standard therapy.

Rosetta Genomics Ltd. (USA)(NASDAQ:ROSG)
shares increased 3.89% to $6.42 after the company announced the commercial launch of the miRview mets2 assay in the U.S. oncology market. miRview mets2, Rosetta Genomics' flagship product, is a diagnostic tool for clinicians in the evaluation of their Cancer of Unknown/Uncertain Primary patients. Rosetta and PTI will be co-promoting the product in the U.S. and active promotion by both companies has commenced.



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