Morning Movers 6/1: KERX, AGEN, ETWC, EGOV Higher; ABIO, THLD, SNTA, OGXI Lower

June 1, 2009 10:00 AM EDT

Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) 98.6% HIGHER; At ASCO yesterday, Keryx announced data on the clinical activity of KRX-0401 (perifosine), the Company's Akt-inhibitor for cancer, in combination with capecitabine as a treatment for advanced colon cancer. Click here for the full report.

ARCA biopharma (Nasdaq: ABIO) 43.5% LOWER; received a Complete Response letter from the U.S.FDA for its New Drug Application seeking approval for GencaroTM (bucindolol hydrochloride) for the treatment of patients with chronic heart failure. Click here for the full report.

Antigenics Inc. (NASDAQ: AGEN) 35.6% HIGHER; today announced results of an interim analysis from the company's ongoing global patient survival registry, which showed that patients with kidney cancer at intermediate risk of disease recurrence demonstrated an approximately 46 percent lower risk of death when treated with Oncophage(R) (vitespen) cancer vaccine compared with observation (n = 362; P = 0.036; hazard ratio [HR] = 0.54).

etrials Worldwide, Inc. (NASDAQ: ETWC) 35.4% HIGHER; Bio-Imaging Technologies, Inc. (NASDAQ: BITI) announces that, in response to another unsolicited offer received by etrials Worldwide from an unrelated third party, etrials has informed Bio-Imaging that its board of directors has deemed the unsolicited offer a superior proposal, as defined in the merger agreement between the parties, and has entered into a merger agreement with such unrelated third party. In connection with the termination of the Bio-Imaging merger agreement, etrials is obligated to pay to Bio-Imaging a termination fee of $500,000 and reimburse Bio-Imaging for reasonable out of pocket expenses up to $250,000 on or before June 2, 2009.

Threshold Pharmaceuticals, Inc. (Nasdaq: THLD) 18.9% LOWER; previously announced on May 30, 2009, clinical trial results related to its clinical stage hypoxia-activated prodrug, TH-302. The results were presented at the American Society for Clinical Oncology (ASCO) being held May 29 to June 2, 2009, at the Orange County Convention Center in Orlando, FL. Here is the full report.

Synta Pharmaceuticals Corp. (NASDAQ: SNTA) 15.6% LOWER; announced the preliminary results of the Phase 3 SYMMETRYSM trial of elesclomol in combination with paclitaxel in metastatic melanoma. These results show a trend towards improvement in PFS, which did not achieve statistical significance (p=0.111; stratified log-rank test). A statistically significant PFS improvement was achieved, however, in the normal LDH population, which constituted just over 2/3 of total evaluable patients in this trial. Here is the full report.

NIC Inc. (NASDAQ: EGOV) 15.1% HIGHER; has acquired an eGovernment contract in the state of Texas from BearingPoint, Inc., which includes the current TexasOnline portal management engagement through December 31, 2009. NIC notes the contract acquired from BearingPoint, Inc. is separate from the active procurement for the rebid of the TexasOnline portal contract.

Oncothyreon Inc. (Nasdaq: ONTY) 14.6% HIGHER; today announced that data from clinical trials for three of the Company's product candidates were presented at the American Society of Clinical Oncology Annual Meeting on May 30, 2009 in Orlando, Florida. The presentations included long-term safety data from the Phase 2b trial of Stimuvax(R) in patients with stage IIIB/IV non-small cell lung cancer, preliminary results from the Phase 1 trial of the phosphoinositide-3-kinase (PI-3 kinase) inhibitor PX-866 in patients with advanced malignancy, and final results from two Phase 1b trials of the thioredoxin inhibitor PX-12 in advanced cancer patients. Click here for the full report.

OncoGenex (Nasdaq: OGXI) 13.2% LOWER; Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) announced that Isis' collaborators presented new clinical data on drugs in Isis' partnered oncology franchise at this year's ASCO Annual Meeting in Orlando, Florida. In total, four presentations were featured on three drugs in Isis' oncology pipeline, including results from a Phase 2 study of OGX-011 in patients with advanced metastatic prostate cancer and Phase 1 study of OGX-427 in patients with a variety of cancers.

Green Plains Renewable (Nasdaq: GPRE) 13% HIGHER; continuing higher today following last week's run on the return to ethanol stocks.

Elan (NYSE: ELN) 11.3% HIGHER; moving higher in pre-open trading on reports from the Wall Street Journal the company is in talks to sell a minority stake to Bristol-Myers Squibb (NYSE: BMY), which could lead to a full takeover of the company.

Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) 11% HIGHER; announced that preliminary results from a Phase II trial of its lead anti-phosphatidylserine antibody bavituximab in combination with docetaxel in patients with advanced breast cancer will be discussed this morning in an oral presentation at the 45th Annual Meeting of the ASCO. Click here for the full report.

NetLogic Microsystems, Inc. (NASDAQ: NETL) 9.2% HIGHER; today announced that they have entered into a definitive agreement to merge. Click here for the full report.

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