There is a second-tier level of stocks here: BioCryst Pharmaceuticals Inc. (BCRX) was up big Friday as it is a maker of drugs that block key enzymes in viral diseases like the flu, shares are indicated over $3.00 after a $2.21 close on Friday.  Novavax, Inc. (NVAX) is another clinical stage company using its virus-like particle platform technology for flu treatments; stock is indicated north of $2.50 after closing up some 75% at $1.42 Friday.

And here is the third-tier of these stocks: Generex Biotechnology Corp. (GNBT) is being passed around as a penny stock flu player with shares indicated around $0.40 after closing up 25% at almost $0.34 Friday.  Vical Inc. (VICL) closed up 3% Friday at $2.53 and shares are indicated up around $3.00.  AVI Biopharma, Inc. (AVII) rose over 20% to $0.89 Friday and shares are indicated up marginally as a result.  Crucell NV (CRXL) has a faster way of making flu vaccines. This closed up 1% on Friday and is hardly moving.

As a reminder, these huge gap ups generally have a one day to multi-day move with each move usually being less than the first.  As with issues such as SARS and bird flu, the world did not end and it was only the SARS scare which actually caused real damage.  You can probably bet that you will be hearing “squeal like a pig!” jokes.

JON C. OGG

Achillion Pharmaceuticals, Inc. (ACHN)    $2.45    Down $0.30    Down 10.91%
Additional ‘positive’ top-line phase 2 data for Elvucitabine

Crucell NV (CRXL)   $18.13    Down $0.64    Down 3.41%
No fresh news

MannKind Corp. (MNKD)    $2.7999    Down $0.1801    Down 6.04%
No fresh news besides tied to Novo’s news yesterday.

Sequenom Inc. (SQNM)    $12.17    Down $0.66    Down 5.14%
Sued yesterday by Beckman and partner Orchid.

CytRx Corporation (CYTR)    $0.7733    Down $0.0567    Down 6.83%
Drop on second day after Lou Gehrig’s drug delay.

Cytori Therapeutics, Inc. (CYTX)  $7.94    $Down 0.62    Down 7.24%
No fresh news today, post patent selling after big 2-day move.

Introgen Therapeutics Inc. (INGN)    $1.68    Down $0.09    Down 5.08%
No news, thin volume

Athersys, Inc. (ATHX)    $2.80    Down$ 0.29    Down 9.39%
No news yet out of diabetes and obesity conference, ahead of data but super thin volume

Micromet, Inc. (MITI)    $2.42    Down $0.20    Down 7.63%
No news, but presented non-Hodgkins data last week.

Genitope Corp. (GTOP)    $0.075    Down $0.013    Down 14.29%
Received NASDAQ letter on listing, but very low stock price so no surprise.

Jon Ogg
June 10, 2008