Good news travels fast
Ebb & Flow
After the spate of bad news in the sector over the past month, it's encouraging to find that investors still are willing to reward companies for good news. Aviron (AVIR) jumped $3.75 to $17.125 on Monday after releasing positive Phase III results of its intranasal flu vaccine (see BioCentury Extra, July 15). Tuesday, the stock soared $6.875 to $24 on 3.7 million shares after the data were widely publicized in both print and television media. The stock was up 74 percent on the week, closing at $23.25. . . . MedImmune (MEDI) gained $5.312 to $24.937 on Wednesday after announcing positive Phase III data for its MEDI-493 antibody for respiratory syncytial virus (see BioCentury Extra July 17). MEDI's market cap increased by $128.7 million on the week, as the stock closed up 33 percent at $23.875. . . . Interneuron (IPIC) added $1.25 to $19.125 on Wednesday after the company announced Phase III data for its citocoline stroke compound (see BioCentury Extra July 16). IPIC closed up 7 percent at $17.875, The gain placed IPIC's options to buy 1.24 million of its shares in the money...