General Commentary: This morning's biggest mover is Oncothyreon (ONTY) which is down over 50%. The company announced that the pivotal Phase 3 clinical trial of L-BLP25 (formerly referred to as Stimuvax) known as START did not meet its primary endpoint of an improvement in overall survival in patients with unresectable, locally advanced stage IIIA or stage IIIB non-small cell lung cancer (NSCLC). Oncothyreon is not completely giving up on the drug, stating, "Despite not meeting the primary endpoint, notable treatment effects were seen for L-BLP25 in certain subgroups. Further analyses are planned in the coming weeks to explore the potential benefit-risk profile of L-BLP25 in certain populations."
Gainers on news:
- Ideara Pharmaceuticals (IDRA +25.97%) Reported positive top-line results from Phase 2 trial of IMO-3100 in patients with moderate-to-severe plaque psoriasis
- Sequenom (SQNM +8.41%) Strength being attributed to news that Wellpoint (WLP) said the co's MaterniT21 Test was medically necessary
- Oncothyreon (ONTY -58.33%) Announced that L-BLP25 (Stimuvax) did not meet primary endpoint of improvement in overall survival in pivotal Phase 3 trial in patients with non-small cell lung cancer
- Hemispherx Biopharma (HEB -2.99%) Continued weakness following critical brieifing documents ahead of FDA panel to review Ampligen for the treatment of Chronic Fatigue Syndrome
Decliners on earnings:
- Health Net (HNT -1.91%) Sees 2013 GAAP EPS of $2.00-2.10 vs $2.15 estimate; projects total health plan memebership will decline by 1-2%
Upgrades/Downgrades:
- Antares Pharmaceuticals (ATRS +1.05%) Initiated with a Buy at Jefferies
- Omnicell (OMCL +0.57%) Initiated with a Market Perform at Wells Fargo
- C.R. Bard (BCR +0.33%) Initiated with a Market Outperform at JMP Securities
- Greenway Medical (GWAY 0.00%) Initiated with a Market Perform at Wells Fargo
- Onyx Pharmaceuticals (ONXX -1.14%) Initiated with a Buy at UBS






