Friday, October 2, 2009

Mkt, Biotech Down Slightly Friday 10.02

Friday 10.02.09:
DOW -21(.2%) @9,488..NAS -9(.46%) @2,048..SP500 -4.6(.45%) @1,025

BIO-Stem Index: -1.21(-.87%) @138.15 (+38.15% ytd)
BIO-ETF Index: -.59(-.54%) @110.33 (+10.34% ytd)

The market dropped a fraction on Friday, losing just a half percent overall. Biotech fell about as much, stem cells a little more, .87%, with only 8 up, 23 down. Trimeris (TMRS) rose 37% on a takeover. ONCY as up 20% after an FDA agreement to conduct Phase 3 trials on head and neck cancers with their platinum based therapy, which show 42% response rate and 75% clinical benefit rate in Phase 2 data from the U.K, to be released in detail in late 2009.

Stem Cell Stocks (8 up, 23 down)
Big Winners: ABT 2.4%, ALXN 2.2%, OSIR 3.65%
Losers: AVII -4.3%, CUR -2.7%, OPXA -7.3%, SQNM -5.2% (the fall continues...)

Swine Flu Stocks
AVII -4.3%, BCRX +7.3%, DVAX -3.6%, GILD -1.7%, INHX -.9%, INO +11.2%, NVAX -6.3%, SIGA +.9%, SVA -4.6%
Other Flu: APT -3.3%, CRXL -1%, CVM -7.3%, HEB +2%, PURE -3.2%, VICL -2.7%

Other Biotech
Big Winners: ACAD +4.4%, AEZA +4.2%, CLDX +4.2%, KERX +8.2%, ONCY +20.4%, SLXP +3.5%
Losers: ADLR -3.2%, ANIK -3.7%, BDSM -3.5%, CGEN -5.3%, CPD -3%, CTIC -5.8%, DSCO -11.6%, GTXI -7.6%, IMMU -4.1%, INSM -3.1%, LTRX -4.1%, MATK -3.7%, MED -3%, NBIX -3.4%, NVGN -10.9%, QGLY -3.5%, VVUS -3.9%

SubMicro: CPRX -18%, GETA -14%, ORXE +7%, PMD -7.5%, TGX -4.3%, THLD +4.4%, TRMS +37%

New Intraday Highs: SLXP

Disclosure: Long BCRX, BSDM, CVM, DNDN

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A company issuing stock gets it's money when the stock goes public, called IPO for Initial Public Offering. However, if the stock takes off due to future expectations, the company can capitalize by issuing more stock and raising money near the current price, so investing in these small biotech companies increases their chances of succeeding by raising enough additonal capital that they don't need to take on debt.

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