Biotech Sector Outperforming Within NASDAQ: Dendreon(DNDN),Idenix(IDIX) and Viropharma(VPHM) Soar
Biotech stocks are up again today ignoring the overall weakness in tech stocks. Among the notable movers today are: Dendreon (DNDN $41.15) broke out above 40 up 5.5% on heavy volume with high expectations for the May 2 Conference call and presentation of data at ASCO in June. Idenix (IDIX...
Life Science Market Update: Risk Off, Raise Cash
Biotechnology Sector Outperforming Within NASDAQ A torrid run-up of over 10% in biotech stocks over the past 3 weeks brings caution to mind as the NASDAQ sell-off hits 1%. Over the past 5 days the NASDAQ sell-off is 2% while biotech indices are only down 1%, nonetheless exuberance may be muted...
Rayno Life Science Portfolio: Exelixis Up 10% Pre-Market On Takeover Talk
Exelixis (EXEL $12.17) has hired Goldman-Sachs to deal with potential takeover bids according to stories in Reuters and Bloomberg. Exelixis has a Phase III cancer drug XL184 (cabozantinab) and announced positive Phase 2 interim data for prostate cancer on Feb. 17. Piper Jaffray also reiterated...
Rayno Life Science Portfolio: Biogen (BIIB) up 6.6 % on Positive MS Data
Biogen (BIIB $78.24) soared today on positive top line data on the Phase 3 Trial for oral BG-12 (dimethyl fumarate) as a montherapy in people with relapsing-remitting multiple sclerosis (RRMS). Results showed that 240 mg of BG-12 2x or 3x a day met the primary and secondary endpoints, providing...
Rayno Life Science Portfolios:Illumina (ILMN) and Seattle Genetics(SGEN)
Reviewing Today's Action A mixed market today with a slight edge to the bulls. Immunogen(IMGN $12.28) up 4% continues its run from yesterday on positive data from its collboration with Roche on T-DM1 (trastuzumab) an antibody coupled with a cell killing agent (chemotherapy) from Immunogen...