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Avanir Pharmaceuticals Inc. (NASDAQ: AVNR) shares dropped 29.84 percent to close at $3.01 a share Wednesday. The stock traded between $3.00and $3.65 on volume 14.28 million shares traded. The company announced that its investigational drug AVP-923 did not meet the primary efficacy endpoint in a recent Phase II study. Shares of Avanir Pharmaceuticals have gained approximately 18.0 percent year-to-date.
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BG Medicine, Inc. (NASDAQ: BGMD) shares surged 30.56 percent to close at $1.41 a share Wednesday. The stock traded between $1.27 and $1.70 on volume of 21.16 million shares traded. The company announced the final determination by the Centers for Medicare and Medicaid Service of the 2014 reimbursement for its BGM Galectin-3 test. Shares of BG Medicine have fallen approximately 38.0 percent year-to-date.
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CytRx Corporation (NASDAQ: CYTR) shares soared 68.20 percent to close at $4.02 a share Wednesday. The stock traded between $3.45 and $4.38 on volume 31.81 million shares traded. The company has announced positive results from a Phase 2B trial of its potential cancer treatment. Shares of CytRx have gained approximately 115.0 percent year-to-date.
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Echo Therapeutics Inc. (NASDAQ: ECTE) shares spiked 14.68 percent to close at $3.36 a share Wednesday. The stock traded between $3.27 and $3.65 on volume 3.18 million shares traded. The company has announced a strategic partnership with Medical Technologies Innovation Asia (MTIA). Shares of Echo Therapeutics have fallen approximately 65.0 percent year-to-date.
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