CHTP, XOMA and CADX Are Movers In Healthcare Despite Bad/Slow Market Session Print E-mail
By Staff and Wire Reports   
Friday, 06 July 2012 17:38
icon_MarketReportDOWNDespite the fact that the U.S. economy posted its third consecutive month of weak job growth and that some say the economic indicators are signaling a marked deceleration of the U.S. economy, some healthcare stocks saw some nice bounces and extended gains on an otherwise slow Friday in the markets.

Chelsea Therapeutics International Ltd.(NASDAQ:CHTP)
shares are showing solid buying today after plunging earlier in the week. On Tuesday the stock was down over 40%  after the drug developer was notified by the FDA that data from the continuing study of its Northera low-blood-pressure medication, the company's lead drug candidate, is unlikely to provide enough evidence to support marketing approval for the treatment. Share of the company are now up 33.78% to $1.21, moving back above its key psychological resistance of $1 mark. Unfortunately, however, it appears the stock move may have been fueled by stock promoters who were compensated to push the stock higher.

XOMA Corporation(NASDAQ:XOMA) extended its gain for the fourth straight session and made a new 52-week high of $4.13 this morning. The stock is now trading higher by $4, extending its weekly to over 30%. On Jun 28, 2012, analyst at Roth Capital had started coverage on the stock with a buy rating and set a price target of $6. Last Wednesday, the started enrolling patients for two drug trials -- a Phase III study in the eye disease non-infectious uveitis and a mid-stage trial in erosive osteoarthritis in the hand.

Cadence Pharmaceuticals, Inc.(NASDAQ:CADX) announced today that the company's Chief Commercial Officer, Scott Byrd, will present the company's corporate overview on Thursday, July 12, 2012 at 3:30pm Eastern Time during the 7th Annual JMP Securities Healthcare Conference at the Peninsula New York Hotel in New York City. Shares of the company are now up 8.17% to $3.97, extending its weekly gain to over 32%.

Sucampo Pharmaceuticals, Inc.(NASDAQ:SCMP) has received a final binding decision on its claims in the dispute with its partner, Takeda Pharmaceutical Company Limited. The International Court of Arbitration, International Chamber of Commerce (ICC) did not agree with Sucampo’s claims and did not award any attorneys’ fees or costs. Sucampo is disappointed with the ICC’s decision. Shares of SCMO slumped 25.90% to $5.15 on above average volume.

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