Headline EventAnalyzer: Weekly Market Movers (to 5 Mar 2010)
Source EP Vantage
Company Resverlogix 
Related: Actelion, Agennix, Allos Therapeutics, AMAG Pharmaceuticals, Cell Therapeutics, CK Life Sciences, CombinatoRx, Daiichi Sankyo, Halozyme Therapeutics, Hi-Tech Pharmacal, Intercell, InterMune, Jazz Pharmaceuticals, Medivation, Myriad Genetics, Nektar Therapeutics, NeuroSearch, NPS Pharmaceuticals, OSI Pharmaceuticals, Questcor Pharmaceuticals 
Date March 08, 2010
 

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 05 Mar vs. Fri 26 Feb   
Rank  Company  Listed Currency  Share Price Change  Market Cap (US$m)  Market Cap Change  Notes on Change 
1  Resverlogix   CAD  +91%  254  +136  5 Mar: Bloomberg reports that the company is in discussions with several companies seeking to partner or license its cholesterol drug, RVX-208, with analysts predicting that the drug could potentially be as successful as Pfizer's blockbuster, Lipitor. 
2  InterMune   USD  +69%  1274  +522  2 Mar: Company submits EU filing for pirfenidone, for the treatment of patients with idiopathic pulmonary fibrosis.
 1 Mar: Shares rise on 3.5x average daily trading volume; shares likely to be volatile ahead of an FDA advisory panel meeting to review pirfenidone for the treatment of idiopathic pulmonary fibrosis, on 9 Mar. FDA briefing documents likely to be available on 5 or 8 Mar.
 1 Mar: A phase III trial of Actelion's Tracleer, for the treatment of idiopathic pulmonary fibrosis, fails to meet its primary endpoint of reducing morbidity, removing a potential competitor for InterMune's drug, pirfenidone.  
3  OSI Pharmaceuticals   USD  +54%  3323  +1164  1 Mar: Astellas Pharma launches a hostile bid to acquire the company for $3.5bn, or $52 per share in cash, a 40% premium to OSI's closing share price of $37.02 on 26 Feb, amid speculation that other potential suitors including Roche may also bid for the company; OSI previously rejects the offer as too low.  
4  Questcor Pharmaceuticals   USD  +39%  401  +101  1 Mar [post market]: Company's Q4 earnings and revenues beat consensus estimates, helped by higher paid commercial prescriptions for its MS drug, Acthar. 
5  Cell Therapeutics   USD  +34%  552  +139  4 Mar: Company discloses that it received a statement on 1 Mar from the Gynecologic Oncology Group leadership stating that phase III trials of Opaxio, used as maintenance therapy for ovarian cancer, remain a high priority and enrollment will continue. 
6  Immunosyn   USD  +27%  150  +32   
7  GenVec   USD  +24%  350  +67   
8  Halozyme Therapeutics   USD  +22%  614  +113  1 Mar: Shares rise on speculation that the company could be a potential takeover target, following news of Baxter's $330m acquisition of ApaTech.
 2 Mar: Shares rise on 5.5x average daily trading volume. 
9  Nektar Therapeutics   USD  +21%  1399  +244  2 Mar [post market]: Multiple analysts reaffirm their ratings citing the company's product pipeline and its partnerships, causing shares to rise despite the company reporting wider-than-expected Q4 losses on higher operating costs. 
10  CombinatoRx   USD  +21%  120  +64  2 Mar: The FDA approves company's once-a-day painkiller tablet, Exalgo, triggering a $40m milestone payment to CombinatoRx from partner,  Covidien.  
11  Jazz Pharmaceuticals   USD  +20%  368  +65  3 Mar [post market]: Company's Q4 profits beat consensus estimates, driven by strong sales of sleep disorder drug, Xyrem, and anxiety disorder drug, Luvox; company also raises its full-year earnings view. 
12  NPS Pharmaceuticals   USD  +19%  193  +31  3 Mar: Summer Street initiates coverage with a "buy" rating with price target $11, citing the company's strong financials and opportunities for future growth.
 2 Mar: Company sells its royalty rights from sales of Regpara to DRI Capital for $38.4m; royalties in excess of cumulative royalties of $96m or 2.5 times the upfront purchase price have been retained by the company.  
13  BioLineRx   ILS  +19%  155  +25   
14  Agennix   EUR  +19%  150  +32  26 Feb: Company's drug, talactoferrin, meets its primary endpoint in phase II trials, in the treatment of severe sepsis. 
15  Hi-Tech Pharmacal   USD  +18%  307  +47  2 Mar: Company acquires the Mag-Ox line of Magnesium nutritional supplements from Blaine Company for $4.1m in an all-cash transaction.  

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

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

      Performance: Fri 05 Mar vs. Fri 26 Feb    
Rank  Company  Listed Currency  Share Price Change  Market Cap (US$m)  Market Cap Change  Notes on Change 
1  Medivation   USD  -66%  406  -801  3 Mar: Company and partner Pfizer's Alzheimer's drug, Dimebon, fails to meet both its primary and secondary endpoints in phase III trials. 
2  Actelion   CHF  -13%  5915  -975  1 Mar: A phase III trial of Tracleer, for the treatment of idiopathic pulmonary fibrosis, fails to meet its primary endpoint of reducing morbidity, leading to concerns over the company's future beyond Tracleer's patent expiry in 2015. 
3  CK Life Sciences   HKD  -12%  632  -87  2 Mar: Shares fall on 5x average daily trading volume. 
4  AMAG Pharmaceuticals   USD  -10%  720  -82  1 Mar: Shares fall despite the company's Q4 results beating expectations. 
5  Allos Therapeutics   USD  -6%  768  -41  1 Mar: [post market]: Company reports wider-than-expected Q4 losses on higher SG&A expenses, primarily related to the development of commercial operations and other infrastructure to support the US launch of cancer drug, Folotyn. 
6  Sawai Pharmaceuticals  JPY  -5%  1013  -63   
7  Towa Pharmaceutical   JPY  -4%  873  -48   
8  Ablynx   EUR  -4%  413  -25   
9  Pharmaxis   AUD  -4%  498  -27   
10  NeuroSearch   DKK  -3%  857  -44  26 Feb: Danish newsletter, AktieUgebrevet, reports that FDA approval for the company's Huntington's treatment, Huntexil, is unlikely based on the existing trial results and the company may have to repeat phase III trials, delaying product launch by several years. 
11  Fosun Pharma   CNY  -2%  3771  -96   
12  Daiichi Sankyo   JPY  -2%  13867  -436  3 Mar: Company's Indian subsidiary, Ranbaxy Laboratories, fails to gain final FDA approval for its generic version of Flomax, for the treatment of benign prostatic hyperplasia, dashing hopes for a significant boost to the company's earnings in the near term. 
13  Myriad Genetics   USD  -2%  2172  -46  4 Mar [post-market]: Auriga initiates coverage with a "sell" rating and price target of $19, citing slow uptake of the company's newly launched tests. 
14  Intercell   EUR  -2%  1478  -65  2 Mar: Company's Q4 results miss expectations due to lower-than-expected sales for Japanese Encephalitis vaccine, Ixiaro, and company issues cautious 2010 outlook. 
15  Novartis   USD  -2%  120327  -2464   

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.
 

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