The vast majority of biotech stocks managed to join a broad market rally on Tuesday with Celsion Corporation (NASDAQ:CLSN) gaining the most after signing a technology-development deal for its liver-cancer drug ThermoDox with Zhejiang Hisun Pharmaceutical Co., covering China, Hong Kong and Macau.
Cell Therapeutics Inc (NASDAQ:CTIC) jumped 9% after agreeing to pay $19 million and adopt new corporate governance measures under a dispute that settles about three years of litigation with shareholders. [article_detail_ad_1]
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) closed 8.62% higher on the election of Stephen R. Biggar, M.D., Ph.D., to its board of directors.
NuPathe Inc (NASDAQ:PATH) soared 8.5% after equity researchers at WBB Securities upgraded the stock from a “buy” rating to a “strong-buy” rating.
Athersys, Inc. (NASDAQ:ATHX) rallied 7.20% after it was considered a leading innovator in the stem cell space targeting ischemic conditions.
Sangamo Biosciences, Inc. (NASDAQ:SGMO) reached highest level since 2008 after a news that scientists at Sangamo BioSciences in Richmond, Calif., have developed a technique using a protein that recognizes and binds to the CCR5 receptor gene, genetically modifying it to mimic the naturally resistant version.
Medivation, Inc. (NASDAQ:MDVN) advanced to new high after William Blair said that Johnson & Johnson (NYSE:JNJ)’s Q4 earnings release, which included sales decline for its metastatic prostate cancer drug Zytiga, means strong point for Medivation’s (MDVN) Xtandi.
Another new high achiever, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) gained on an upgraded from Hold to Buy at Stifel Nicolau.
VIVUS, Inc. (NASDAQ:VVUS), Corcept Therapeutics Incorporated (NASDAQ:CORT), Zalicus Inc (NASDAQ:ZLCS), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Galena Biopharma Inc (NASDAQ:GALE) all saw gains on Tuesday.
Seattle Genetics, Inc. (NASDAQ:SGEN) set an all-time high on Tuesday.
Amgen, Inc. (NASDAQ:AMGN) gained after Congress rescued the company from Medicare price restraints on Sensipar.
Peregrine Pharmaceuticals (NASDAQ:PPHM), NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) and Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) each added more than 1% in price while Dendreon Corporation (NASDAQ:DNDN), Biogen Idec Inc. (NASDAQ:BIIB) and MannKind Corporation (NASDAQ:MNKD) all edged up between 0 and 1%.
Two stocks namely Inovio Pharmaceuticals, Inc. (NYSEAMEX:INO) and Sequenom, Inc. (NASDAQ:SQNM) failed to show any gain and surprisingly ended the day at breakeven level.
On the flip side, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) was the biggest loser in the industry after European regulators provided a list of concerns with its weight-loss drug Belviq.
Oncothyreon Inc (USA) (NASDAQ:ONTY) extended fall after Piper Jaffray launched coverage on the stock with an Underweight rating and a $1.00 price target.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) lost gaining momentum, losing 3.73% after the USPTO extended the patent covering its Fusilev for injection from the original date of Dec 31, 2019 to Mar 7, 2022.
InterMune, Inc. (NASDAQ:ITMN) continued to decline after pricing public offering at $9.90 per share.
Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX), Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), Hemispherx BioPharma, Inc (NYSEAMEX:HEB), Theravance Inc (NASDAQ:THRX) and Nektar Therapeutics (NASDAQ:NKTR) all lost between 1.4% and 2.3%.
Despite hitting new high Celgene Corporation (NASDAQ:CELG) closed 0.72% lower on Tuesday. The company recently said that Abraxane increases survival by nearly two months in pancreatic cancer patients.
Also, Gilead Sciences, Inc. (NASDAQ:GILD) marked new 52-week high after Barclays Capital analysts boosted their target price on the stock from $76.00 to $84.00 but faced a fall of 0.47% by the end.
More on the downside, Sinovac Biotech Ltd. (NASDAQ:SVA), CEL-SCI Corporation (NYSEAMEX:CVM), PDL BioPharma Inc. (NASDAQ:PDLI) and Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) all fell in a range of zero to 0.84%.