Headline EventAnalyzer: Weekly Market Movers (to 22 May 2009)
Source EP Vantage
Company OXiGENE 
Related: Aurobindo Pharma, Biocon, Biovail, Cephalon, Cipla, Cougar Biotechnology, Dr. Reddy's Laboratories, Immunomedics, Insmed, Isis Pharmaceuticals, Jubilant Organosys, Onyx Pharmaceuticals, Santhera Pharmaceuticals, Spectrum Pharmaceuticals, Titan Pharmaceuticals, Torrent Pharmaceuticals, Wockhardt 
Date May 25, 2009
 

 EvaluatePharma’s EventAnalyzer delivers a weekly global round up of key events driving company valuations. Detailing the previous week’s top 15 market gains and losses, aligned with significant news flow driving share prices, the EventAnalyzer keeps you in touch with the latest market moves.

 Top 15 Gains (%) - ranked on change in share price

       Performance: Fri 22 May vs. Fri 15 May    
 Rank    Company    Listed Currency    Share Price Change    Market Cap (US$m)    Market Cap Change    Notes on Change  
 1   OXiGENE    USD    +77%    92    +40    21 May: Company announces it will present final phase II trial results of its vascular disrupting agent product Zybrestat (fosbretabulin) on June 1 at annual meeting of the American Society of Clinical Oncology (ASCO). The trial was in women with platinum-resistant ovarian cancer.
 22 May: Shares of several biotechs with promising oncology products rise after J&J announces $1bn takeover bid for Cougar Biotechnology.  
 2   Titan Pharmaceuticals    USD    +65%    76    +30    20 May: Company announces re-engagement of three senior executives to manage ongoing activities and oversee plans for the future, following FDA marketing approval for Fanapt (Iloperidone), on which Titan will receive royalties.
 17 May: Share rise on 3.5x average daily trading volume.  
 3   Wockhardt    INR    +33%    251    +55    21 May: Shares rise on 7x average daily trading volume.  
 4   Glenmark Pharmaceuticals    INR    +29%    1085    +210    
 5   Spectrum Pharmaceuticals    USD    +25%    165    +33    20 May: Shares rise on 7x average daily trading volume.  
 6   Immunomedics    USD    +23%    183    +35    18 May: Shares rise following the company's release of positive phase II data for cancer drug, Epratuzumab, in combination with Roche's Rituxan, on 15 May; non-Hodgkin's lymphoma patients receiving the drug as part of a chemotherapy regimen survived more than a year without requiring further treatment.  
 7   Jubilant Organosys    INR    +23%    506    +79    19 May: Company announces the redemption of foreign currency convertible bonds of $35m issued in 2004. The outstanding amount of these bonds, $0.3m was paid to the bondholders.  
 8   Biocon    INR    +22%    687    +103    22 May: Nirmal Bang assigns a "buy" recommendation for the company with target price of INR 195.
 22 May: Shares rise on 16x average daily trading volume.  
 9   Cougar Biotechnology    USD    +22%    890    +160    21 May [post-market]: Johnson & Johnson agrees to buy the company for almost $1bn in a cash, or $43 a share, a 16% premium to previous day's closing share price. Deal to complete by Q3 2009.   
 10   Insmed    USD    +19%    202    +32    18 May: Shares rise on 6x average daily trading volume.  
 11   Biovail    USD    +18%    2054    +310    19 May: Shares rise after the company announced on 18 May that it had acquired worldwide rights to tetrabenazine, currently marketed as Nitoman in Canada and  Xenazine in the US, for the treatment of chorea associated with Huntington’s disease, from  Cambridge Laboratories, in a deal worth $230m.  
 12   Torrent Pharmaceuticals    INR    +16%    287    +29    15 May: Company announces that the board has recommended a dividend of INR 4 per equity share.
 15 May: Share rise on 2.5x average daily trading volume.  
 13   Dr. Reddy's Laboratories    INR    +15%    2177    +218    22 May: FDA approves three IND applications to begin testing new drugs to treat high cholesterol; atherosclerosis and heart disease.
 22 May: Share rise on 3.5x average daily trading volume.
 19 May: India Infoline assigns a "buy" recommendation for the company.  
 14   Aurobindo Pharma    INR    +15%    358    +34    20 May: Company announces expansion of a collaboration with Pfizer, giving the US company the rights to 55 generic pills and 5 injectable products in more than 70 emerging markets.  
 15   ViroPharma    USD    +14%    495    +62    

 Excludes companies with a market cap. movement of less than US$25m. 

 Top 15 Losses (%) - ranked on change in share price 

       Performance: Fri 22 May vs. Fri 15 May    
 Rank    Company    Listed Currency    Share Price Change    Market Cap (US$m)    Market Cap Change    Notes on Change  
 1   Santhera Pharmaceuticals    CHF    -38%    93    -57    19 May: Company's lead drug, Catena, for the treatment of Friedreich's ataxia, fails to meet its primary endpoint in phase III trials leading to a delay of at least 10 months as the company awaits phase III data from a European trial in the hopes that the data will support a US approval. Analysts fears that the company is now likely to run out of cash during 2010 and that the drug could possibly be withdrawn in Canada, since approval was conditional on positive data from the US phase III trial.  
 2   ARYx Therapeutics    USD    -16%    137    -27    
 3   Cephalon    USD    -12%    4307    -268    20 May: Company announces plan to raise up to $700m through the sale of new shares and convertible debt.  
 4   Isis Pharmaceuticals    USD    -12%    1288    -175    20 May: Company and partner Genzyme announce that cholesterol-lowering drug,  mipomersen, meets its primary endpoint in phase III trials in patients with homozygous familial hypercholesterolemia by lowering cholesterol levels by 25%, compared to a 3% reduction for placebo, but concerns about potential liver toxicity cause stock to fall.  
 5   GTx    USD    -11%    319    -41    
 6   Onyx Pharmaceuticals    USD    -11%    1276    -163    18 May: Shares fall after the company announced on 17 May that it was suing Bayer over its rights to anti-cancer compound,  fluoro-sorafenib, which Onyx claims was discovered during joint research with Bayer; Bayer states that Onyx has no rights to the compound.   
 7   Active Biotech    SEK    -9%    323    -34    
 8   Momenta Pharmaceuticals    USD    -8%    340    -29    
 9   Exelixis    USD    -6%    468    -29    
 10   Aspen Pharmacare    ZAR    -5%    1777    -85    
 11   Alkermes    USD    -4%    780    -35    
 12   Regeneron Pharmaceuticals    USD    -4%    1089    -48    
 13   Covidien    USD    -4%    17640    -706    
 14   Allergan    USD    -4%    13321    -515    
 15   Cipla    INR    -4%    3379    -262    21 May: Shares fall on 2.5x average daily trading volume.
 19 May: Shares fall on 3x average daily trading volume.  

 Excludes companies with a market cap. movement of less than US$25m. 

 Disclaimer:
The above analysis is based on daily share prices supplied to EvaluatePharma Ltd by a third party. EvaluatePharma Ltd accepts no responsibility or liability for the accuracy of the data presented here. Neither should any data presented here be construed as a solicitation or offer to buy or sell any securities or related financial instruments. 
 

This content is written, edited and published by EP Vantage and is distributed by EvaluatePharma Ltd. All queries regarding the content should be directed to: news@epvantage.com

EP Vantage is a unique, forward-looking, news analysis service tailored to the needs of pharma and finance professionals. EP Vantage focuses on the events that will define the future of companies, products and therapy areas, with detailed financial analysis of events in real-time, including regulatory decisions, product approvals, licensing deals, patent decisions, M&A.

Drawing on EvaluatePharma, an industry-leading database of actual and forecast product sales and financials, EP Vantage gives readers the insight to make value-enhancing decisions.
EP Vantage SM ©2010 EP Vantage Ltd