Biotech Busine$$ Daily (AMLN, BIIB, CEPH, CYTK, ONXX, REGN, THRX, CBM)

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Many biotech stocks are enjoying large gains Monday, although some are on no real breaking news. Here is a look at some notable gainers:

  • Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) up $1.39 to $28.97, a 5% increase. The 52-week range is $23.75 to $53.25.
  • Biogen Idec Inc. (NASDAQ: BIIB) up nearly $3.00, a 5% increase to $61.94. Carl Icahn on CNBC said today he is going to stay after the company.  The 52-week range is $43.43 to $84.75.
  • Cephalon Inc.  (NASDAQ: CEPH) up a modest 1% to $65.35. Last Thursday, they received FDA approval for Treanda, a treatment for chronic lymphocytic leukemia. The 52-week high is $84.83.
  • Cytokinetics, Incorporated (NASDAQ: CYTK) up over 2% to $3.49. Today the company announced positive results from Phase IIa trials of cardiac myosin activator drug CK-1827452 for patients with stable heart failure.
  • Onyx Pharmaceuticals (NASDAQ: ONXX) up $1.94 to $29.36, over 7% up. The 52-week range is $23.73 to $61.18
  • Regeneron Pharmaceuticals (NASDAQ: REGN) up $2.21 to $19.86, a 12% increase on the day. The 52-week range is $13.55 to $28.74
  • Theravance Inc. (NASDAQ: THRX) up $1.13 to $10.53, a 12% jump. The 52-week range is $9.37 to $36.98.

One biotech stock that isn’t enjoying the upswing is Cambrex Corp. (NYSE: CBM). The company hit a new low, down over 13% to $6.95 on news that UCB Groups Parkinson’s treatment, Neupro, is being recalled. Neupro uses their ingredient and the recall should impact earnings. First Analyis Sec downgraded the stock today.

Rachel Lopez
March 24, 2008