As we round the first corner heading into the back stretch we see Acadia Pharmaceuticals Inc (ACAD) is bursting out of the gates up over 20% in value this morning on heavier than usual trading.
Acadia is developing the antipsychotic drug pimavanserin for Parkinson’s disease patients. The company has succeeded in meeting the primary goal and key secondary goals The trial consisted of a 199-patients and is in Phase III. The results have showed the drug was significantly better than placebo at reducing psychotic effects of Parkinson’s disease psychosis. Pimavanserin also met a secondary goal of the study by demonstrating that it could achieve an antipsychotic effect without worsening of motor function, the company said.
Winning is a great feeling most of the time and that is exactly what Gevo, Inc. (GEVO) shareholders are feeling at the moment as the stock is trading over 6% higher in morning trading.
The good news comes from a judgment of non-infringement entered on Gevo’s behalf for the acknowledgment by Butamax Advanced Biofuels LLC that Gevo does not infringe on Butamax`s asserted patents. The patents under scrutiny were Butamax`s Patent Numbers 7,851,188 and 7,993,889. This victory means a judgment of non-infringement will be entered in the record in Gevo`s favor and the trial scheduled for April 1st will no longer take place.
After losing over 60% of its value yesterday Affymax (NASDAQ: AFFY ) has bounced back some 15% in morning trading. Investors might want to be cautious of the stock as the company continues to struggle following the recall of its only drug, Omontys.
Omontys is a drug used for treatment on dialysis patients with anemia. The recalled is said to be linked to three fatalities during its use. The company has made wholesale changes to its workforce cutting it by some 76% and there is talk that the company is about to make a decision to declare bankruptcy. There is an investigation into the adverse reactions to the drug but that is only getting started as we write this story.
Disclaimer: This article is intended for informational and entertainment use only, and should not be construed as professional investment advice. They are my opinions only. Trading stocks is risky — always be sure to know and understand your risk tolerance. You can incur substantial financial losses in any trade or investment. Always do your own due diligence before buying and selling any stock, and/or consult with a licensed financial adviser.