Capricor On A Starry Start, Onconova's ONTRAC Out Of Track, PBYI On Watch

(RTTNews) - Biodel Inc. (BIOD) has entered into a long-term supply agreement with Becton, Dickinson and Co. (BDX) for worldwide exclusive rights to BD Uniject SCF Disposable Auto-Disable Injection System for the delivery of liquid glucagon to treat severe hypoglycemia. Financial terms of the agreement have not been disclosed.

BIOD closed Tuesday's trading 5% higher at $2.31.

Capricor Therapeutics Inc. (NLTXD.OB) rose more than 13 percent to $2.98 on Tuesday following clearance from the National Heart Lung and Blood Institute, Gene and Cell Therapy Data Safety Monitoring Board to begin the phase II portion of its phase I/II clinical trial of product candidate CAP-1002. The trial, dubbed ALLSTAR, is evaluating CAP-1002 in reducing infarct (scar) size in patients who have suffered a heart attack.

Depomed Inc. (DEPO) has acquired the United States rights to CAMBIA migraine medicine from Nautilus Neurosciences for $48.7 million, making it the third product acquisition in 18 months. The transaction, which bolsters Depomed's portfolio in pain and neurology, specifically strengthening the company's position with neurologists, is expected to be immediately accretive.

DEPO closed Tuesday's trading at $8.35, down 1.53%.

Mylan Inc. (MYL) and its partner Banner Pharmacaps Inc. have entered into a settlement and license agreement with Eisai Inc. and Valeant Pharmaceuticals Luxembourg S.a.r.l to resolve the patent litigation related to first-to-file generic version of Targretin, a drug used to treat cutaneous T-cell lymphoma ( a type of skin cancer).

Accordingly, the pending litigation will be dismissed, and Mylan and Banner will receive a license to begin selling a generic version of Targretin on July 9, 2015, or earlier under certain circumstances.

MYL closed Tuesday's trading at $41.86, down 0.10%.

Navidea Biopharmaceuticals Inc. (NAVB) has submitted a Supplemental New Drug Application with the FDA seeking approval for the marketing and sale of Lymphoseek Injection for sentinel lymph node detection in patients with head and neck cancer.

Lymphoseek is already approved for use in lymphatic mapping procedures that are performed to aid in the diagnostic evaluation of potential cancer spread for patients with breast cancer and melanoma.

NAVB closed Tuesday's trading 5.85% higher at $2.17.

Onconova Therapeutics Inc. (ONTX) dropped 20 percent to $13.10 in extended trading on Tuesday, following the company's decision to discontinue a phase III study of its investigational intravenous Rigosertib in combination with Gemcitabine in front-line metastatic pancreatic cancer.

The company pulled the plug on the study, dubbed ONTRAC, after the Data Safety Monitoring Board determined that the combination of Rigosertib and Gemcitabine is unlikely to demonstrate a statistically significant improvement in overall survival compared to Gemcitabine alone.

Puma Biotechnology Inc. (PBYI) will provide an update from the following clinical trials of PB272 on December 23, 2013.

-- Phase II trial of PB272 in patients with HER2 mutated non-small cell lung cancer.

-- Phase II trial of PB272 in HER2-negative breast cancer patients who have a HER2 mutation.

-- Phase II clinical trial of PB272 as a single agent in patients with solid tumors who have an activating HER2 mutation.

PBYI touched a new high of $105 on Tuesday before closing at $99.85.

Biotech stocks can be risky as their fortunes depend on two key events namely clinical trial results and FDA decisions. Nevertheless, the returns can be impressive when the stocks are bought and sold at the right time. So far, 37 of our 2013 stock picks have delivered triple-digit returns.

Visit Emerging Biostocks (http://www.rttnews.com/Products/EBSService.aspx) for a complete list of our biotech stock picks.