Posts Tagged ‘Biotech Stocks’

GENE jumps, BAC busy, COOL freezes

Wednesday, January 19th, 2011

Genetic Technologies Inc. (Nasdaq: GENE) vaulted 65.8 percent to $5.57 Wednesday. Volume of 538,264 shares trampled its full-day volume average of 17,027.

Bank of America Corporation (NYSE: BAC) was a volume leader Wednesday, trading in 99,658,930 shares, catching up on its full-day average of 217,463,000. Prices for the stock slid back 2.8 percent to $14.59, as lower prices for bank shares weighed on the markets.

Majesco Entertainment Company (Nasdaq: COOL) tanked 17.9 percent Wednesday to $1.15.  Volume for the stock was 1,426,060 shares, three times its normal daily volume. Tuesday, COOL reported quarterly net revenues decreased 2.2 percent to $23.4 million versus $23.9 million in the same period a year ago. During this same period, the Company reported an operating loss of $1.3 million, compared to an operating loss of $5.5 million in the fourth quarter of 2009.

Cumberland Pharmaceuticals, Inc. (CPIX) rises after receiving FDA approval for liver drug

Friday, January 14th, 2011

Shares of drug maker, Cumberland Pharmaceuticals, Inc. (Nasdaq: CPIX) surged as much as 32 percent from Thursday’s closing price in morning trading on Friday after the company announced that it received approval from the U.S. Food and Drug Administration for a new formulation of its liver drug.

The drug, Acetadote, which has been available in the United States since Cumberland’s 2004 introduction of the product, is currently used in hospital emergency departments to prevent or lessen potential liver damage resulting from an overdose of acetaminophen, a common ingredient in many over-the-counter pain relief and fever-reducing products.

Cumberland is immediately commencing U.S. launch activities for the next generation of Acetadote, and will discontinue to manufacture the previously approved formulation.

The approval could not have come at a more opportune time. Cumberland’s announcement dropped on the same day the FDA said it will cap the amount of acetaminophen in various drugs at 325 milligrams per capsule because of the potential for toxic overdoses when taken in combinations.

“We look forward to introducing this next generation product to the hospital community and the growing number of patients who will benefit from it,” Cumberland Pharmaceuticals’ CEO A.J. Kazimi said in a statement.

In March the company had filed a supplementary new drug application for an indication of Acetadote to treat liver failure caused by factors such as hepatitis B and autoimmune hepatitis.

The FDA rejected the application for the new indication, stating that it did not offer sufficient evidence of efficacy in increasing survival in all patients with acute liver failure.

Shares of CPIX are up about 3 percent over the past three months.

ASTM up, GE with bright volume, ESI falters

Monday, January 10th, 2011

Aastrom Biosciences Inc. (Nasdaq: ASTM) shares gained 22.7 percent to $3.19 Monday. Volume of 8,380,362 shares was more than 3 1/2 times its usual volume. The company will be presenting Phase 2 Surgical-DCM six-month results sometime this month.

General Electric Company (NYSE: GE) traded in 51,542,124 shares Monday afternoon, just shy of its daily average of 57,051,500. Prices for GE inched up 0.7 percent to $18.56. GE Energy Financial Services, and Bankers Commercial Corporation, a unit of UnionBanCal Corporation, announced today that they have purchased the first wind farm to start operations in one of the largest wind energy projects in the United States.

ITT Educational Services, Inc. (NYSE: ESI) dipped 12.3 percent Monday to $56.62. Volume for the stock of 1,899,031 shares doubled its daily average, and then some. ESI is a leading provider of post-secondary degree programs.

OXM celebrates, CSCO busy, BIOF backslides

Wednesday, December 22nd, 2010

Oxford Industries, Inc. (NYSE: OXM) galloped ahead 23.91 percent in price Wednesday to $27.47. Volume of 799,682 shares swamped its daily average of 143,603. OXM is an international apparel design, sourcing and marketing company.

Cisco Systems Inc. (Nasdaq: CSCO) traded in 30,591,580 shares Wednesday, less than half, however, of its daily average of 71,916,500. Share prices for CSCO were flat at $19.53.

BioFuel Energy Corp. (Nasdaq: BIOF) fell 16.08 percent in price Wednesday to $1.67, on volume of 738,567 shares, compared to a full-day average of 491,308. The Denver-based BIOF currently has two 115 million gallons per year ethanol plants in the Midwestern corn belt.

WTNY rockets, SIRI beats average, BASI bumbles

Wednesday, December 22nd, 2010

Whitney Holding Corp. (Nasdaq:WTNY) raced ahead 30.45 percent in price Wednesday to $14.18. Volume of 6,284,037 shares was eight times its daily average. Whitney found itself under investigation Wednesday for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Hancock Holding Company

Sirius XM Radio Inc. (Nasdaq: SIRI) traded in 72,955,801shares Wednesday, besting its daily average of 56,868,900. Share prices gained 8.14 percent to $1.60. Technology firm BUYINS.NET ran a reverse engineering trading scan on SIRIUS, and predicted SIRI would go 39.7% higher by January 18.

Bioanalytical Systems Inc. (Nasdaq: BASI) fell 21.71 percent in price Wednesday to $2.02, on volume of 177,659 shares, 10 times its full-day average. BASI is a leader in drug development services and research instrumentation.