Posts Tagged ‘buzz stocks’

Delcath Systems Inc. (DCTH) shares climb as cancer drug shows promise

Monday, August 22nd, 2011

Delcath Systems Inc. (Nasdaq: DCTH) shares rose 8.5% to $3.96 after it said its experimental cancer treatment showed promising results in a mid-stage trial. Volume for the stock approached 315,000 as noon ET closed in; its all-day average is around 861,000.

A Reuters article published Monday noted that the study included four patient cohorts — hepatobiliary cancers, and metastatic cancers of neuroendocrine, ocular or cutaneous melanoma, and colorectal origins — but responses to the treatment were most encouraging for hepatocellular carcinoma, the most common primary cancer of the liver.

“We believe these results show a strong signal of efficacy, and support our plan to initiate Phase III and Phase IV trials for HCC in the second half of 2012,” Chief Executive Eamonn Hobbs was quoted in the article as saying.

Delcath is developing a chemosaturation system that is designed to administer high dose chemotherapy drugs to only the diseased organs or regions of the body, thereby restricting the harsh effects of chemo drugs on other body organs.

Delcath, headquartered in midtown Manhattan, is a development-stage, specialty pharmaceutical and medical device company focused on oncology. We’re researching breakthroughs in regional chemotherapies with the goal of improving clinical outcomes and potentially reducing drug-related adverse events.

Eastman Kodak Co. (EK) gets lift from patent sale speculation

Thursday, August 18th, 2011

Eastman Kodak Co. (NYSE: EK) shares rallied 11.5% to $3.00, a day after The Wall Street Journal reported the company had begun exploring a possible sale of digital-imaging patents. Volume for the stock totaled 58.7 million shares, crushing a daily average of 13.1 million.

The Journal reported Wednesday that Kodak, through investment firm Lazard, had begun shopping around a portfolio of 1,100 patents. Kodak advertised the move a month ago, but investors appear to be paying closer attention now that Google Inc. said it would pay $12.5 billion to buy Motorola Mobility Holdings Inc., chiefly for its patents.

The Journal, citing anonymous sources, reported the patents have drawn interest from a “strategic buyer in the wireless industry looking to use the patents for defensive protection.”

Kodak declined to comment on the patent sale.

DARA Biosciences Inc. (DARA) prospers from new pain drug

Thursday, August 18th, 2011

DARA Biosciences Inc. (Nasdaq: DARA) shares climbed 23.3% to $2.81, on word of a fast-tracking for its new pain drug. Volume for the stock topped 835,000 shares Thursday morning, crushing its all-day average of 28,000.

A news release out August 18 revealed that the Raleigh, North Carolina-based DARA announced today that its investigational drug KRN5500 has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of chemotherapy-induced neuropathic pain in patients with cancer.

The FDA’s Fast Track program is designed to facilitate the development and expedite the review of new drugs that are intended to treat serious or life threatening conditions and that demonstrate the potential to address the unmet medical need (Fast Track Drugs). The purpose of the program is to get important drugs to the patient earlier.

New Drug Applications (NDA) for products in the Fast Track program normally receive priority review.

The same release quoted DARA CEO Richard Franco as saying, “the FDA Fast Track designation for KRN5500 is a significant positive step for the thousands of cancer patients who suffer this unremitting pain from a number of causes including from their chemotherapy.

“This is a most serious condition in need of new treatment options,” Franco continued. “Current estimates show as many as 40-50% of cancer patients receiving chemotherapy endure this condition and a certain portion of these patients endure relentless chronic pain requiring treatment even after they recover from their cancer. CIPN is also a dose limiting side effect of many commonly used chemotherapeutics. We are very encouraged by the initial clinical results, our partnership with the National Cancer Institute (NCI) and now the FDA Fast Track Drug status,” he added.

Unilife Corporation (UNIS) stock rockets on CEO buyback

Wednesday, August 17th, 2011

Unilife Corporation (NASDAQ: UNIS) shares zoomed 12.9% to $4.20, on word the company’s CEO plans to buy back up to $1 million in shares this week. Volume for the stock totaled 232,000 shares, lagging an all-day average of 258,000.

A news release out Wednesday announced that Unilife’s CEO, Alan Shortall, intends to purchase $500,000 in shares of the company’s common stock over the next week. Shortall intends to begin purchasing these shares this week at market prices within 48 hours.

Furthermore, Mr. Shortall has advised the Board of Directors of Unilife that he intends to purchase up to an additional U.S. $500,000 of the Company’s common stock between now and September 30, 2011. Mr. Shortall intends to provide twenty-four hours advance notice to U.S. markets before purchasing these additional Unilife shares.

Shortall is the largest shareholder in Unilife. These upcoming purchases by Shortall follow his most recent open market purchases of more than U.S. $500,000 in Unilife shares, which were completed in mid-March 2011 at an average price equivalent to $4.80 per share of common stock.

Shortall was quoted in the release as saying, “I believe that this is an excellent time to purchase shares in Unilife, and to further align my own personal interests to that of my fellow shareholders. In my opinion, Unilife has never had a brighter business future than what we see today. We remain on track with our strategic plan to become a global leader in advanced drug delivery systems. As such, I intend to increase my personal investment in the Company.”

Unilife Corporation is a U.S.-based developer, manufacturer and supplier of advanced drug delivery systems with state-of-the-art facilities in York, Pennsylvania.

MarketAxess Holdings Inc. (MKTX) hits stock high amid takeover rumors

Wednesday, August 17th, 2011

MarketAxess Holdings Inc. (Nasdaq: MKTX) shares gained 14.3% to $27.48, after The Wall Street Journal on Tuesday reported on its website that the operator of an electronic bond-trading platform might be on the auction block. Volume for the stock was 1.7 million shares, or about 11 times its normal daily volume.

The Journal piece, citing folks close to the situation and substantiated Wednesday by Reuters, said that if MarketAxess decides on a sale, the company could fetch around $1.5 billion.

Though the names of the interested parties are not known, potential bidders might include Bloomberg LP, SunGard Data Systems BAINSD.UL and private equity players, said Niamh Alexander, an analyst with Keefe, Bruyette & Woods.

“We also consider exchanges but the price might be relatively high for them, nonetheless an all-cash transaction by ICE or CME could still be accretive,” Alexander said in the Reuters story.

MarketAxess is big in electronic trading of corporate bonds and is making headway in credit derivatives ahead of planned regulations that will shift more of that market toward venues like MarketAxess.