|Healthcare Review: Sucampo Pharmaceuticals, GlaxoSmithKline, Targacept, DexCom, CEL-SCI, Exelixis Are Notable Mover|
|By Staff and Wire Reports|
|Monday, 03 December 2012 14:35|
Output by China's factories grew in November for the first time in more than a year, data showed. But that encouraging signal about the health of the world's second-largest economy was offset by a surprising contraction in U.S. manufacturing, which fell in November to its lowest level in more than three years, according to the Institute for Supply Management.
Following are the notable movers at mid-day on Monday:
Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) shares slumped 7.45% to $4.85 after announcing Friday the FDA extended by three months its review of the company's Amitiza drug to treat opioid-induced constipation in patients with chronic, non-cancer pain. The FDA decides to extend the goal date to provide time for a full review of supportive analyses it had requested.
GlaxoSmithKline plc (ADR) (NYSE:GSK) showcases its drugs pipeline to investors and analysts, saying it expects to receive Phase III trial results of up to 14 treatments over the next two years, including for heart medicine darapladib and cancer vaccine MAGE-A3. GSK's strategy is to develop a broader array of drugs, some of which could be blockbusters, although others have smaller commercial potential.
Targacept , Inc. (NASDAQ:TRGT) shares gained 5.13% to $4.51 on over 167K shares. The stock is still down over 19% so far this year. Targacept, Inc. is a biopharmaceutical company. The Company is engaged in the design, discovery and development of NNR Therapeutics for the treatment of diseases and disorders of the nervous system. The Company's NNR Therapeutics target neuronal nicotinic receptors (NNRs).
DexCom, Inc. (NASDAQ:DXCM) surged 4.50% to $13.66 with more than 715K shares traded hands – 2X its average volume. DexCom, Inc. (DexCom) is a medical device company focused on the design, development and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers in the hospital for the treatment of both diabetic and non-diabetic patients.
CEL-SCI (AMEX:CVM) continues to climb. Up (3.85%) at mid-day after the company issued a shareholder letter stating: “We are encouraged by the study’s IDMC findings, and as a result are now more aggressively expanding the study in the US and Western Europe.” The firm is currently running the largest ever Phase III clinical trial in head and neck cancer, a disease with a clear unmet medical need, with their investigational Multikine immunotherapy.
Exelixis, Inc. (NASDAQ:EXEL) shares slumped 6.15% to $4.58, extending its weekly loss to 13%. Last week, the Food and Drug Administration approved Exelixis, Inc.(NASDAQ:EXEL)’s thyroid cancer drug Cometriq. Cometriq is the first approved drug made by Exelixis. This is also being tested for treatment for prostate cancer, and other types of tumors such as kidney cancer.