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Pre-Market: Health Care Shares Mixed in Pre-Market Session - BioSante Pharma Shareholders OK Cell Genesys Merger
By: Midnight Trader   Thursday, October 01, 2009 9:20 AM

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Health care shares are mixed in the pre-market session. Cell Genesys (CEGE) is higher after BioSante Pharmaceuticals (BPAX) stockholders approved the companies' merger. Halozyme Therapeutics (HALO) is higher after announcing additional Phase 2 results demonstrated faster insulin absorption and increased peak insulin concentrations in type 1 diabetic patients after co-administration of its recombinant hyaluronidase enzyme with Humulin R (regular human insulin), a mealtime insulin. Cell Therapeutics (CTIC) is higher after announcing that patients with cancer of the lower esophagus demonstrated a high rate of complete remission when given Opaxio (paclitaxel poliglumex), a biologically enhanced paclitaxel, when administered in combination with standard cisplatin and concurrent radiation.

Cell Genesys said BioSante Pharmaceuticals stockholders have approved the companies' merger.

Halozyme Therapeutics said additional Phase 2 results demonstrated faster insulin absorption and increased peak insulin concentrations in type 1 diabetic patients after co-administration of its recombinant hyaluronidase enzyme with Humulin R (regular human insulin), a mealtime insulin. In addition, study results also showed a significant reduction in postprandial blood glucose levels following administration of a standardized test meal and less hypoglycemia compared to Humulin R alone.

Cell Therapeutics announced that patients in a study with cancer of the lower esophagus demonstrated a high rate of complete remission when given Opaxio (paclitaxel poliglumex), a biologically enhanced paclitaxel, when administered in combination with standard cisplatin and concurrent radiation.

Dow Jones U.S. Health Care Index: -1.40 (-0.47%) at 296.33 (Wednesday regular session close)

Top Health Care Stocks:

JNJ: -0.07%

PFE: -0.06%

ABT: +0.06%

MRK: +0.19%

WYE: +0.04%

UPSIDE MOVERS

Vical (VICL): Stock is recently bouncing up from a pre-market low of 4.37, seeing strong upside liquidity off this bottom. Longs may want to watch the 4.37 to 4.40 area into the open to see if it holds as a floor support - a level that could see upside movement back into the higher 4.40s or possibly breach 4.50.

DOWNSIDE MOVERS

RADVision (RVSN): Stock is stretching to fresh pre-market lows late in the session, sliding from 7 to 6.61. RVSN developed two distinct ceiling levels in the pre-market session, at 7.30 to 7.20 and at 7.10 to 7.00 - areas shorts may want to eye as a potential near-term top. More risk tolerant shorts might want to target the 6.80 to 6.70 area, a ceiling level developing late in this morning's session.




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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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