Biotech Movers: Regeneron Pops, 3 Flop

by Kyle Woodley | November 19, 2012 8:30 am

Biotech Movers: Regeneron Pops, 3 Flop

BiotechRecap185 Biotech Movers: Regeneron Pops, 3 Flop[1]Here’s a look at recent major developments and share moves in biotech stocks:

Regeneron Pharmaceuticals (NASDAQ:REGN[2]): Regeneron — the company behind macular degeneration treatment Eylea — popped 11% on a pair of positive headlines last Friday. The company and partner Sanofi (NYSE:SNY[3]) got the support of EU regulators[4] for Zaltrap, a drug meant to be used alongside chemotherapy for patients with colorectal cancer. Regeneron also announced a $70 million expansion[5] of its East Greenbush, N.Y., facilities that would include 65,000 square feet of new space and the addition of 300 new jobs.

Dynavax Technologies (NASDAQ:DVAX[6]): Dynavax shares were sliced nearly in half Friday after a huge setback concerning its adult hepatitis B vaccine, Heplisav. An FDA advisory committee on Wednesday said two doses of Heplisav were as effective[7] as three doses of GlaxoSmothKline’s (NYSE:GSK[8]) Engerix-B vaccine. However, on Friday the panel voted 8-5 against the vaccine, saying, “the ability to reliably evaluate uncommon specific autoimmune events is limited due to the size of the study”; the vote sends DVAX back to the drawing board. DVAX finished Friday down 47.3%.

Navidea Biopharmaceuticals (AMEX:NAVB[9]): NAVD slid lower this week after the FDA accepted its New Drug Application resubmission for Lymphoseek but set a six-month target for possible approval[10] instead of an expected two-month approval. The FDA still needs to inspect the facilities of the third-party manufacturer of Lypmphoseek, a radiopharmaceutical agent used for lymph node imaging. NAVB shares fell 16% by the end of last week.

AspenBio Pharma (NASDAQ:APPY[11]): AspenBio — the developer of appendicitis test AppyScore — watched its stock fall Thursday after the company announced a secondary offering[12]. AspenBio will offer 1,476,000 shares at a price of $2.10 for an expected $3.1 million in proceeds, in a deal expected to close Nov. 20. The company currently has 7.72 million outstanding shares. The underwriters also will have a 45-day option to buy up to an additional 221,400 shares to cover over-allotments. APPY finished the week down 16%.

Clovis Oncology (NASDAQ:CLVS[13]): Clovis Oncology dropped to all-time lows last week after its pancreatic cancer treatment proved no more effective than gemcitabine, branded by Eli Lilly’s (NYSE:LLY[14]) as Gemzar. Clovis said Monday it was suspending the development of its drug, CO-101, designed to treat cancer resistant to gemcitabine. CLVS shares finished the week down nearly 46%.

Kyle Woodley[15] is the Assistant Editor of InvestorPlace.com[16]. As of this writing, he did not hold a position in any of the aforementioned securities. Follow him on Twitter at @IPKyleWoodley[17].

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/biotech-movers/
  2. REGN: http://studio-5.financialcontent.com/investplace/quote?Symbol=REGN
  3. SNY: http://studio-5.financialcontent.com/investplace/quote?Symbol=SNY
  4. got the support of EU regulators: http://www.businessweek.com/news/2012-11-16/sanofi-wins-eu-agency-s-backing-for-zaltrap-for-cancer
  5. $70 million expansion: http://www.bizjournals.com/albany/print-edition/2012/07/27/regenerons-75m-expansion-would.html?s=print
  6. DVAX: http://studio-5.financialcontent.com/investplace/quote?Symbol=DVAX
  7. were as effective: http://www.businessweek.com/news/2012-11-13/dynavax-s-heplisav-vaccine-works-on-hepatitis-b-fda-says
  8. GSK: http://studio-5.financialcontent.com/investplace/quote?Symbol=GSK
  9. NAVB: http://studio-5.financialcontent.com/investplace/quote?Symbol=NAVB
  10. set a six-month target for possible approval: http://www.equities.com/news/headline-story?dt=2012-11-13&val=704599&cat=hcare
  11. APPY: http://studio-5.financialcontent.com/investplace/quote?Symbol=APPY
  12. announced a secondary offering: http://www.heraldonline.com/2012/11/14/4416560/aspenbio-pharma-announces-pricing.html
  13. CLVS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CLVS
  14. LLY: http://studio-5.financialcontent.com/investplace/quote?Symbol=LLY
  15. Kyle Woodley: http://www.investorplace.com/author/kyle-woodley/
  16. InvestorPlace.com: http://investorplace.com/
  17. @IPKyleWoodley: https://twitter.com/#!/ipkylewoodley

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