Healthcare Most Volatile: Zogenix (NASDAQ:ZGNX), OXiGENE (NASDAQ:OXGN), Galena Biopharma (NASDAQ:GALE), Oncothyreon (NASDAQ:ONTY)

Though Zogenix, Inc. (NASDAQ:ZGNX) made it to the closing bell up 4.56% on the news that the FDA chairwoman had backed the controversial drug, it is losing its gains in extended trading – down 7.9% at 5:00 p.m. EST. The drop comes in the wake of Sen. Joe Manchin (D-W.Va.) submitting a bill to pull the company’s hydrocodone pain killer Zohydro from the market. The senator has been one of the most vocal opponents of the drug, citing its highly addictive, pure hydrocodone content as a cause for concern. Most hydrocodone based pain-killers are mixed with other drugs to decrease their risk of addiction and the senator from West Virgina leads a chorus of lawmakers who would like to see the drug pulled. Zogenix, Inc. (NASDAQ:ZGNX) shares after opening at $3.36 on last trade day and at the end of the day closed at $3.54. Company price to sales ratio in past twelve months was calculated as 11.37 and price to cash ratio as 21.30. Zogenix, Inc. (NASDAQ:ZGNX) showed a negative weekly performance of -12.38%.

OXiGENE Inc (NASDAQ:OXGN) was up $2.63 to $5.05 in recent action, a gain of more than 108% and a new 52-week high. The company’s experimental drug Zybrestat, used in conjunction with Avastin, met primary goals of a “statistically significant” increase in survival rates among ovarian cancer patients as opposed to those just using Avastin. OXiGENE Inc (NASDAQ:OXGN) shares fell -4.55% in last trading session and ended the day on $3.99. OXGN return on equity ratio is recorded as -212.60% and its return on assets is -180.80%. OXiGENE Inc (NASDAQ:OXGN) yearly performance is -0.25%.

Shareholder rights law firm Robbins Arroyo LLP announces that an investor of Galena Biopharma, Inc. (NASDAQ:GALE) has filed a federal securities fraud class action complaint in the U.S. District Court for the District of Oregon. The complaint alleges that the company and certain of its officers and directors violated the Securities and Exchange Act of 1934 between November 6, 2013 and February 14, 2014 (the “Class Period”). Galena is a biopharmaceutical company focusing on the development of oncology treatments. Galena Biopharma Inc (NASDAQ:GALE) shares moved up 3.97% in last trading session and was closed at $3.14, while trading in range of $2.90 – $3.17. Galena Biopharma Inc (NASDAQ:GALE)year to date (YTD) performance is -36.69%.

Oncothyreon Inc (USA) (NASDAQ:ONTY) reported financial results for the year and quarter ended December 31, 2013. Loss from operations was $41.2 million for the year ended December 31, 2013 compared with $28.5 million for the year ended December 31, 2012. The increase in loss from operations resulted primarily from an increase in research and development expenses to $33.2 million from $22.0 million, which included a $10.0 million upfront payment to Array BioPharma Inc. (Array) upon execution of the collaboration agreement with Array in May 2013. Oncothyreon Inc (USA) (NASDAQ:ONTY) weekly performance is 2.79%. On last trading day company shares ended up $3.69. Oncothyreon Inc (USA) (NASDAQ:ONTY) distance from 50-day simple moving average (SMA50) is 43.08%. Analysts mean target price for the company is $4.00.