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by Richard Daverman, PhD.
Centient Biotech Investor



Hollis-Eden Pharma (HEPH) received word that the Department of Health & Human Services ruled Neumune “technically unacceptable” as a treatment for Acute Radiation Syndrome. Hollis-Eden was seeking a contract to supply Neumune as a treatment for radiation as part of the biodefense stockpile. As recently as October 2006, Hollis-Eden had been told that Neumune was in competitive range for the RFP, and Hollis-Eden was thought to be the only company still in competition for the award. Thus, the company expressed surprise that it was not awarded a contract for Neumune. HHS canceled the entire RFP without explaining its action. Hollis-Eden fell 32%, dropping $1.38 to $2.90.

LaJolla Pharma (LJPC) released positive data from a Phase III trial of Riquent for lupus. The data showed a dose dependent response to Riquent, using the reduction of antibodies to double-stranded DNA as a biomarker. The 900 mg/week dose of Riquent is higher than doses given previously, and the response was correspondingly higher as well. The FDA gave an approvable letter for Riquent two years ago, but requested an additional trial to prove efficacy. The news was good for a 31% pop in the price of LaJolla, which climbed 97 cents to $4.13.

Barrier Therapeutics (BTRX) received approval to market Xolegel for seborrheic dermatitis in Canada. Seborrheic dermatitis is a recurring skin inflammation, which causes a red, itchy rash. Xolegel is applied once a day, while most competing treatments require multiple applications. Barrier launched Xolegel in November 2006 in the US. Barrier rose 12 cents to $6.81.

Myriad Genetics (MYGN) began a Phase II trial of Azixa in patients with brain cancer. The drug will be given to patients with glioblastoma multiforme, the most common form of brain cancer, and it will be compared to oxaliplatin and an Azixa/oxaliplatin combination. Myriad was 58 cents higher at $33.68.

Pfizer (PFE) received FDA approval of five new indications for Lipitor, the blockbuster statin anti-cholesterol drug. The drug can now also be used to reduce the risk of nonfatal heart attacks, fatal and non-fatal strokes, certain types of heart surgery, hospitalization for heart failure, and chest pain in patients with heart disease. Pfizer moved up 14 cents to $25.41.

OncoGenex (OGXI) withdrew its application for an IPO after failing to price last week. The company blamed market conditions. However, OncoGenex did not have any Phase II data from the five Phase II trials currently underway for its lead drug, OGX-011, which is being tested as a treatment for prostate, breast and non-small cell lung cancers. OncoGenex says it has enough money to complete the trials and hinted it would make a second attempt at an IPO in a year when it has that data.

Immune Response Corporation (IMRP.OB) said that the first patient in a Phase II trial has received NeuroVax, a T-Cell Receptor vaccine for relapsing-remitting multiple sclerosis. NeuroVax is thought to work by enhancing levels of FOXP3+ regulatory T-cells (Treg cells) which reduce the number of pathogenic T-cells in MS patients. Immune Response ended the day at $1.32, a rise of 14 cents.

Biotech stayed in positive territory for the entire session today. The Centient Biotech 200™ closed with a 10-point gain at 3828, a rise of .27%. The S&P moved up .71% and Nasdaq was higher by .55%.


Source: CentientInvestor.com



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