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Cancer-related stocks soared during the holiday-shortened week as presentations began on June 1st at the ASCO annual meeting in Chicago.

Last week’s big winner, Bioenvision (BIVN), received an offer from partner Genzyme (GENZ) at a disappointing premium but well ahead of multi-year lows reached in early May.

The list below is comprised of domestic companies primarily with market caps in excess of $50mm, ranked by the return this past week.

If the reader believes that there are erroneous inclusions or exclusions, feel free to let me know.

Click to enlarge
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As one can see, 19 of the 89 stocks, or over 20%, produced double-digit returns, with just one double-digit decline. The average return of 5.1% was 3.7% ahead of the S&P 500, while the median of 2.0% was ahead of the market as well. Looking at the one big loser, Inovio (NASDAQ:INO), shares pulled back after reaching a 52 week high in the prior week. The stock remains in a solid uptrend and held the 3.52 level at which they sold stock in Mid-May. The company specializes in vaccine delivery technology as well as electro-chemotherapy (MedPulser).

5 stocks rallied in excess of 20%, including Novacea (NOVC-OLD), which cut a deal with partner Schering-Plough (SGP) to develop a late-stage prostate cancer treatment. The stock surged on the week despite pulling back a couple of points on downgrades. Vion (OTC:VION) bounced back a bit after getting clobbered in the prior week (ended an AML trial). Dendreon (NASDAQ:DNDN) surged on news that the FDA would accept partial data (perhaps shortening time to market). Peregrine (NASDAQ:PPHM) rallied from close to a 52-week low but remained below the declining 200dma as it reported data from a Phase 1b trial. Finally, Poniard (OTCPK:PARD), which is developing a next-generation platinum agent, surged on Phase 1 data as well. The stock looks very strong technically, moving to a 52 week high on its highest volume ever.

Disclosure: Author is long ISRG

Source: Cancer Stocks Soar With Annual ASCO Meeting