Ariad Pharmaceuticals (ARIA) jumped a day after saying it was granted a patent covering cancer and heart drugs called mTOR inhibitors, a class that includes the company's lead product candidate. Shares were up 3.8% to $3.79.
Shares of CV Therapeutics (CVTX) got a lift after the company announced a public offering of 9 million shares for $9.50 a piece. The stock was up 1.5% to $9.90.
Other gainers included Genentech (DNA) , up 0.8% to $80.96, Crucell (CRXL) , up 6.9% to $21.91, Incyte (INCY) , which gained 3.3% to $4.40, MedImmune (MEDI) whose shares were boosted 4.6% to $27.27, Barr Pharmaceuticals (BRL) , up 4.2% to $58.22, Sirna Therapeutics (RNAI) , better by 3.5% to $4.39, Gilead (GILD) , whose shares rose 2% to $63.44, and Endo Pharmaceuticals (ENDP) , up 1% to $33.70.
Among the losers were Shire (SHPGY) , down 1% to $50.20, Novogen (NVGN) , off 4.1% to $9.80, and Biosante Pharmaceuticals (BPA) , lower by 3.5% to $1.95.
Novartis (NVS) climbed after the Swiss drugmaker said it began shipments of its Fluvirin flu vaccine to the U.S. The company said 1 million doses were shipped within the past week. The company expects to continue shipping the vaccine through the end of the year. Novartis' shares were up 0.9% to $57.14.
Pfizer's (PFE) shares rose a day after the company's new CEO, Jeffrey Kindler, announced a management reorganization. Among the changes, Vice Chairman Karen Katen, who was passed over for the position of CEO, is leaving the company. David Shedlarz, another CEO candidate, is staying with the company and will take on additional responsibilities. Pfizer gained 1.3% to $26.73.
Bioenvision (BIVN) soared 12.6% to $4.93 after Prudential initiated coverage of the stock with an overweight rating. According to biotech analyst Ron Ellis, the stock has limited downside and will likely be driven by European regulatory milestones and an expected approval of its drug clofarabine to treat acute myeloid leukemia in 2007. He issued a price target of $11, significantly above the stock's 52-week high of $9.18.
Shares of CV Therapeutics (CVTX) got a lift after the company announced a public offering of 9 million shares for $9.50 a piece. The stock was up 1.5% to $9.90.
Other gainers included Genentech (DNA) , up 0.8% to $80.96, Crucell (CRXL) , up 6.9% to $21.91, Incyte (INCY) , which gained 3.3% to $4.40, MedImmune (MEDI) whose shares were boosted 4.6% to $27.27, Barr Pharmaceuticals (BRL) , up 4.2% to $58.22, Sirna Therapeutics (RNAI) , better by 3.5% to $4.39, Gilead (GILD) , whose shares rose 2% to $63.44, and Endo Pharmaceuticals (ENDP) , up 1% to $33.70.
Among the losers were Shire (SHPGY) , down 1% to $50.20, Novogen (NVGN) , off 4.1% to $9.80, and Biosante Pharmaceuticals (BPA) , lower by 3.5% to $1.95.
Novartis (NVS) climbed after the Swiss drugmaker said it began shipments of its Fluvirin flu vaccine to the U.S. The company said 1 million doses were shipped within the past week. The company expects to continue shipping the vaccine through the end of the year. Novartis' shares were up 0.9% to $57.14.
Pfizer's (PFE) shares rose a day after the company's new CEO, Jeffrey Kindler, announced a management reorganization. Among the changes, Vice Chairman Karen Katen, who was passed over for the position of CEO, is leaving the company. David Shedlarz, another CEO candidate, is staying with the company and will take on additional responsibilities. Pfizer gained 1.3% to $26.73.
Bioenvision (BIVN) soared 12.6% to $4.93 after Prudential initiated coverage of the stock with an overweight rating. According to biotech analyst Ron Ellis, the stock has limited downside and will likely be driven by European regulatory milestones and an expected approval of its drug clofarabine to treat acute myeloid leukemia in 2007. He issued a price target of $11, significantly above the stock's 52-week high of $9.18.
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