Wednesday, September 15, 2010

Day Trader's Alert: SVNT, GTXI, HRBR

Shares of Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) surged as much as 23% after it announced that the U.S. Food and Drug Administration (FDA) has approved KRYSTEXXA(TM) (pegloticase), a PEGylated uric acid specific enzyme indicated for the treatment of chronic gout in adult patients refractory to conventional therapy.  

Shares of GTx, Inc. (NASDAQ: GTXI) soared as much as 4% after it announced today that in a Phase II, open label, pharmacokinetic-pharmacodynamic clinical trial, GTx-758, an oral selective estrogen receptor alpha agonist being developed to treat advanced prostate cancer, suppressed serum total testosterone to castrate levels, increased serum SHBG (sex hormone binding globulin), and markedly reduced serum free testosterone in healthy male volunteers.

Shares of Harbor BioSciences, Inc. (NASDAQ: HRBR) jumped more than 49% after it released new positive data from its ongoing Phase I/IIa clinical trial with Apoptone(R) (HE3235) for castration resistant prostate cancer (CRPC) -- also referred to as hormone resistant prostate cancer.

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