NEW YORK, October 02, 2012 – Stockmarketnation.com, one of the leaders in providing stock updates on U.S. stock, markets are announcing valuable information on Cell Therapeutics Inc, ArQule, Illumina, Rosetta Genomics.
Shares in Cell Therapeutics Inc(NASDAQ:CTIC) rose by more than a fourth after the U.S. Food and Drug Administration granted orphan status to its brain cancer drug.
Orphan status, is granted by the U.S. FDA to drugs that treat diseases affecting fewer than 200,000 people. It also provides seven years' marketing exclusivity from the date of approval to Cell Therapeutics.
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The designation was granted based on preliminary data from the mid-stage study of the drug, Opaxio, for treating glioblastoma multiforme (GBM), the company said.
Illumina shares gained on Tuesday on reports that Roche may raise its bid for the company.
A report in the London Times said that Roche was preparing a bid price of $60 a share for Illumina, Inc.(NASDAQ:ILMN), an 18 percent premium to its previous bid price of $51 a share.
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Shares in Illumina rose about 6 percent to $52 a share.
ArQule, Inc.(NASDAQ:ARQL), which makes experimental cancer drugs, fell the most in 16 years after it halted a study of a lung-tumor treatment that failed to meet goals for improving survival rates.
The drug maker fell 57 percent to $2.14 in early trades in New York, after declining as much as 60 percent in its biggest drop since October 1996.
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The company said in a statement that a panel of scientific advisers recommended an early end to the trial of tivantinib, the cancer medicine it is trying to develop with Tokyo-based Daichi Sankyo Healthcare Co.
Rosetta Genomics Ltd. (USA)(NASDAQ:ROSG) is up 3% after announcing the commercial launch of the miRview mets assay, its flagship product, in the U.S. oncology market. miRview mets2 is a diagnostic tool for clinicians in the evaluation of cancer patients.
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