BioMimetic Leads Tuesday's Healthcare Winners

by: M. E. Garza

Leading Tuesday's biggest winners in healthcare was BioMimetic Therapeutics, Inc. (NASDAQ:BMTI). The stock is up over 45% in the last three months. The company which develops and commercializes products to stimulate the body’s natural tissue regenerative process and whose protein therapeutic-device combination products are used for the treatment of musculoskeletal injuries and conditions affecting bones, tendons, ligaments, and cartilage saw it's stock close at $13.08 +1.37 (11.70%) as the small-cap prepares for a presentation next week at the Orthopedic Trauma Association's Annual meeting (Oct. 8-10) and at the American Orthopaedic Foot & Ankle Society conference on Nov. 6-7.

Also among the winners was Elron Electronic Industries Ltd. (NASDAQ:ELRN) which closed up +0.56 (10.89%) to $5.70. This is a multi-faceted play that covers various sectors including healthcare beacuse it's technically a technology operational holding company that operates through its group companies. The company is engaged primarily in the fields of medical devices, information communications, technology, semiconductors and clean technology. Clean tech is being touted by many as the next big opportunity sector for investors.

NovaMed, Inc.(NASDAQ:NOVA) closed at $4.58+0.36 (8.53%) and saw nearly half it's gains for the day come in the closing minutes of the regular session. After hour trades were not unusual and didn't show any added volatility or price increase, however. NovaMed, Inc. is a health care services company and an owner and operator of ambulatory surgery centers (ASCs).

Leading the losers was MannKind Corporation (NASDAQ:MNKD). Shares of this biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases, such as diabetes and cancer have plummeted over 31% on Tuesday to $6.31, after the company said it would be unable to conclude a partnership deal for its inhaled insulin product, AFRESA, by the end of the year.

DepoMed, Inc. (NASDAQ:DEPO) pulled back just a bit after Monday's big jump for the stock. The company announced top-line results from a Phase 3 clinical trial demonstrating DM-1796 (also referred to as gabapentin ER) achieved a statistically significant reduction in pain associated with postherpetic neuralgia (PHN) versus placebo using the baseline observation carried forward (BOCF) method required by FDA. The primary endpoint measured pain scores from baseline to the end of a ten-week treatment period using the numerical Likert pain scale.

Some analysts are reiterating a positive rating for the stock and believe the market has yet to factor in the potential that this drug has in terms of delivering milestones and royalties to the company from partner Abbott Labs. As subscribers to our FDA and Clinical Trials Calendar know, up next for Depomed is the phase III Breeze data testing Serada in menopausal hot flashes. That data is expected to be out later this month and should help continue pushing shares upward.

For Wednesday, watch Vical Incorporated (Nasdaq:VICL) the company announced early this morning that the company's TransVax(TM) cytomegalovirus (CMV) vaccine continued to demonstrate an overall increase in cellular immune responses compared with placebo at the seven-month immunogenicity data point in an ongoing Phase 2 trial. Alain P. Rolland, Pharm.D., Ph.D., Vical's Executive Vice President of Product Development, presented the data today at the World Vaccine Congress (Lyon, France).

Here are the rest of Tuesday's Top Winners and Losers in healthcare:

Gainers (% price change) Last Trade Change Mkt Cap
BioMimetic Therapeutics BMTI 13.08 +1.37 (11.70%) 284.49M
Elron Electronic ELRN 5.70 +0.56 (10.89%) 169.01M
NovaMed, Inc. NOVA 4.58 +0.36 (8.53%) 105.56M
Hansen Medical, Inc. HNSN 3.75 +0.28 (8.07%) 140.33M
Affymetrix, Inc. AFFX 9.28 +0.67 (7.78%) 655.33M

Losers (% price change)
MannKind Corporation MNKD 6.31 -2.90 (-31.49%) 654.65M
St. Jude Medical, Inc. STJ 33.40 -4.84 (-12.66%) 11.62B
DepoMed, Inc. DEPO 5.27 -0.34 (-6.06%) 271.98M
Amicus Therapeutics, Inc. FOLD 5.26 -0.30 (-5.40%) 119.10M
Immunomedics, Inc. IMMU 4.79 -0.20 (-4.01%) 360.03M

Most Actives (dollar volume)
St. Jude Medical, Inc. STJ 33.40 -4.84 (-12.66%) 11.62B
Pfizer Inc. PFE 16.78 +0.38 (2.32%) 113.25B
Johnson & Johnson JNJ 60.29 +0.47 (0.79%) 166.15B
Wyeth WYE 48.67 +0.42 (0.87%) 64.98B
Merck & Co., Inc. MRK 32.51 +0.74 (2.33%) 68.56B

Disclosure: no positions