A brief roundup of stocks making news this morning...
Agenus Inc (NASDAQ: AGEN), which offered some M&A news yesterday to kick off the new week, issued news again on Tuesday morning, announcing the initiation of a Phase 2 trial with lead pipeline candidate Prophage in the treatment of melanoma, and Bristol-Myers Squibb's Yervoy for the treatment of Stage III and IV metastatic melanoma. The combination, according to a Tuesday morning release, has the potential to trigger a more effective immune response against the tumor than Yervoy alone. Agenus has proven to be a decent speculative trade in the past and news such as this fuels the speculative outlook for those betting on Prophage success. Bear in mind that regardless of how high these things can fly on success, it's always worth selling a few trading shares into price spikes because more companies than not fail in the sector. Bank at least some profits when you can.
Agenus picked a good week to announce news on back-to-back days with JPM14 in full swing.
CEL-SCI Corporation (NYSE: CVM) spiked by fifteen percent on Monday, higher at some points during intra-day trading, and was up during the pre-market hours on Tuesday, too. Volume was by a very large margin higher for the day - a day with no news announcement that would explain the surge in price. It'll be worth keeping an eye on this one throughout the day on Tuesday. If no news is released to explain the jump in volume and price, then it could just be a speculative head fake in relation to the focus on health care this week and investors may be wise to take some cash off the table into the spike and maybe buy in on a retreat, if it does indeed drop.
Investors sticking around in Cel-Sci are awaiting updates - any updates - on the progress of the head and neck cancer immunotherapeutic treatment Multikine, which has been engaged in worldwide trials for years now. Although the company has been relatively mum on news, any positive notes regarding the trial or its overall success could lead to a big speculative price surge. CVM's low market share currently reflects a general lack of confidence and/or a 'wait and see' approach by investors.
Every time we see a move like this one from Cel-Sci, the longs get itchy with anticipation that big news could be coming. In realistic terms, CVM dropped heavily following its reverse split, so many are just looking to get back to even at this point. Keep an eye this one.
Galena Biopharma (NASDAQ: GALE) is another one taking advantage of the focus on health care this week with the release of M&A news on Monday followed by an announcement on Tuesday of collaboration with Dr. Reddy's in India for NeuVax in the treatment of Gastric Cancer. Shares flew higher by fourteen percent on Monday and were up another six percent during Tuesday's pre-market hours. This one may have the makings of a run more based on the healthcare focus this week than strictly on material events, so it may be wise to take a few profits.
Generex Biotechnology Corporation (OTC: GNBT) announced on Monday that it had completed enrollment for its Phase II AE37 breast cancer trial. Shares - badly beaten down over the past couple of years on the stagnation of Oral-lyn - had been on the move during the early-goings of the new year, but somewhat stalled during the last half of Monday's trading day. Still a very highly speculative play, GNBT could find some non-speculative life again if AE37 pans out. Interim results are possible beforehand, but expect actual data to start rolling in a year's time, according to Monday's release.
Implant Sciences (OTC: IMSC) announced on Tuesday morning that it has received a follow-on order from Mercury Air Cargo QS-B220 explosive trace detectors. Mercury is deploying the technology at its Los Angeles International Airport location, a solid sign that US air cargo is taking notice of Implant's radiation-free ETD technology. Shares have slipped below a buck again, historically a good place to load up, but investors are waiting for an increase in the rate of US orders. The domestic and international potential of Implant's product continue to remain very noteworthy.
Disclosure: Long CVM, IMSC.