The vast majority of biotech stocks failed to join a broad market rally on Wednesday with Pacific Biosciences of California (NASDAQ:PACB) facing the biggest fall of 13.91%.
Amyris Inc (NASDAQ:AMRS) extended 5-day losing streak after a news that the company has added $37.25 million in cash and $5 million in debt cancellation from a $42.25 million private placement led by Total and Biolding Investment.[article_detail_ad_1]
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) declined sharply after the National Specialised Commissioning Team (NSCT) informed Alexion Pharma UK that the Ministers of Health have decided to not follow AGNSS Recommendation for Soliris. In other news, Brean Murray analysts reaffirmed their buy rating on the ALXN stock.
Incyte Corporation (NASDAQ:INCY) lost 4.17% after Morgan Stanley downgraded the stock from an “equal weight” rating to an “underweight” rating.
Cell Therapeutics Inc (NASDAQ:CTIC) and Inovio Pharmaceuticals, Inc. (NYSEAMEX:INO) both fell more than 4% while Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), Cytori Therapeutics Inc. (USA) (NASDAQ:CYTX), Neostem Inc. (NYSEAMEX:NBS) and Dendreon Corporation (NASDAQ:DNDN) dropped in a range of 3 to 4 percent.
Curis, Inc. (NASDAQ:CRIS) suffered fifth decline in row.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) retreated 2.60% after announcing common stock offering.
VIVUS, Inc. (NASDAQ:VVUS) and Orexigen Therapeutics, Inc. (NASDAQ:OREX) were under notable pressure after Arena Pharmaceuticals (NASDAQ:ARNA) said that the European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) provided a Day 180 list of outstanding issues.
Celsion Corporation (NASDAQ:CLSN) failed to sustain rally seen after the company expanded a drug development deal with a Chinese drug maker.
Despite hitting new high yesterday, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) ended below the trend line.
Celgene Corporation (NASDAQ:CELG) was down before its earnings report on Thursday morning.
Biogen Idec Inc. (NASDAQ:BIIB) declined after a Forbes report that Wall Street is expecting lower third quarter profit for the company.
Amgen, Inc. (NASDAQ:AMGN) declined on lower Q4 earnings.
More on the down side, Sequenom, Inc. (NASDAQ:SQNM), Peregrine Pharmaceuticals (NASDAQ:PPHM), Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX), Viropharma Inc (NASDAQ:VPHM), NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) and Gilead Sciences, Inc. (NASDAQ:GILD) each was down at-least 1%.
On the other hand, Exelixis, Inc. (NASDAQ:EXEL), Illumina, Inc. (NASDAQ:ILMN) and Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) each fell as much as 1% by the end of trade on Wednesday.
Turning to upside, Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) led all upbeat biotech stocks after its rival Celgene (CELG) declared Abraxane Phase III update on Tuesday night.
PharmAthene, Inc. (NYSEAMEX:PIP) jumped 11.54% a day after its presentation at the Noble Financial Capital Markets Ninth Annual Equity Conference.
Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) advanced 4.60% after providing preliminary (unaudited) forecast of net product revenue from sales of OFIRMEV® (acetaminophen) injection for the three-months ended December 31, 2012, of about $17.1 million.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) rose after the company declared election of Stephen R. Biggar to its Board of Directors.
Santarus, Inc. (NASDAQ:SNTS) gained on publication of upbeat data from a double-blind, placebo-controlled, multi-center pivotal study with CYCLOSET (bromocriptine mesylate) tablets.
More on the upside, Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), Corcept Therapeutics Incorporated (NASDAQ:CORT), Chelsea Therapeutics International Ltd. (NASDAQ:CHTP), DARA Biosciences Inc (NASDAQ:DARA), Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Halozyme Therapeutics, Inc. (NASDAQ:HALO) all ended in green.