3SOF

Stocks in the Spotlight Thursday...
Shares of biotechs, Xenoport (XNPT)and Immunogen(IMGN) soared while Movado and Constellation Brands had more modest gains.

Xenoport (XNPT)

The biopharmaceutical company's shares rose 57% after the FDA approved Horizant, a drug for restless leg syndrome co-developed with GlaxoSmith Kline. Gregory R. Wade, an analyst with Wedbush Securities, rated the company at Outperform with a price target of $23. "We anticipate that Horizant's side effect profile, with significantly lower levels of nausea and vomiting .... will result in broad market ...

Day's Range: 9.71 - 11.34
52wk Range: 5.66 - 11.82
Volume: 26,039,946
Avg Vol (3m): 1,249,970
Market Cap: 351.22M
P/E (ttm): N/A
EPS (ttm): -2.68
Div & Yield: N/A (N/A

Technicals
Record Volume
Close Above the 50-day EMA
Close Above the 13-day EMA
Most Actives
Gap Up
Percentage Gainer
Price Gainer

Last Price Quote is:
43.72%above 13-day EMA
39.23%above 50-day EMA
RS Rating: 76 
   

XenoPort Rises After Winning Approval From U.S. FDA for Its First Medicine...

.XenoPort Inc. (XNPT) had its biggest gain in Nasdaq trading after U.S. regulators approved its first product following more than a year of delays.

The Santa Clara, California-based company rose $3.58, or 56 percent, to $9.96 at 4 p.m. New York time in Nasdaq Stock Market composite trading, the largest percentage increase since the shares were listed in June 2005.

XenoPort and partner GlaxoSmithKline Plc (GSK) said late yesterday that the Food and Drug Administration cleared their Horizant medicine as a treatment for moderate-to-severe restless legs syndrome. The FDA asked in February 2010 for more information about tumors in rats that were seen in early drug studies. The delay led XenoPort to fire half its employees.

"We think it's a great example of a company able to work with the FDA to clear up misconceptions, suggesting the agency indeed can still work rationally with biotech companies," said Michael Yee, an analyst with RBC Capital Markets in San Francisco, in an e-mail.

Horizant may bring in at least $100 million a year in U.S. sales, Yee said. The drug was developed by XenoPort and licensed to London-based Glaxo. It will compete with Glaxo's Requip and closely held Boehringer Ingelheim GmbH's Mirapex.

Millions of Patients
People with restless legs syndrome have uncontrollable urges to move their legs to relieve uncomfortable sensations, according to the National Institute of Neurological Disorders and Stroke. The condition affects 2 percent to 3 percent of the U.S. population, according to XenoPort.

In two studies of more than 400 patients, about 75 percent of those taking Horizant for 12 weeks said their symptoms were much or very much improved, compared with about 45 percent of those taking placebos.

"This significant milestone represents the culmination of XenoPort's efforts," said Ronald W. Barrett, XenoPort's chief executive officer. "XenoPort is honored to have contributed to the efforts to find new treatments for restless legs syndrome."

Horizant is a modified-release form of Neurontin, a Pfizer Inc. (PFE) drug for epilepsy that is now sold as a generic. Astellas Pharma Inc. (4503), of Tokyo, has licensed rights to the product in Japan.

Biotech Stocks
April 7, 2011, 3:20 p.m. EDT
XenoPort, ImmunoGen shine in drug-stock trading...

BOSTON (MarketWatch) — Drug stocks dipped modestly in afternoon trading Thursday, while shares of XenoPort Inc. broke from the downward trend, surging on news that the company's drug Horizant has won U.S. regulatory approval.

Shares of XenoPort rallied almost 60% to stand at $10.01.

Late Wednesday, XenoPort /quotes/comstock/15*!xnpt/quotes/nls/xnpt (XNPT 9.96, +3.58, +56.11%)  said that the U.S. Food and Drug Administration approved Horizant for the treatment of moderate to severe Restless Legs Syndrome, an uncomfortable condition of the legs that can interfere with sleep. The product was co-developed with U.K. drug maker GlaxoSmithKline PLC /quotes/comstock/13*!gsk/quotes/nls/gsk (GSK 39.96, +0.24, +0.60%) .

Horizant is XenoPort's first product to win regulatory approval.

Meanwhile, shares of ImmunoGen Inc. /quotes/comstock/15*!imgn/quotes/nls/imgn (IMGN 11.80, +2.50, +26.88%)  rocketed 26% to $11.66. Researchers reported positive Phase II data from a study of the company's breast-cancer therapy trastuzumab emtansine, or T-DM1.

ImmunoGen is co-developing T-DM1 with Swiss pharmaceutical giant Roche /quotes/comstock/11i!rhhby (RHHBY 36.63, +0.46, +1.27%) . The study compared the effectiveness of T-DM1 against Roche's popular breast-cancer therapy Herceptin in combination with the chemotherapy agent docetaxel.

Shares of Elan Corp. /quotes/comstock/13*!eln/quotes/nls/eln (ELN 7.87, +0.28, +3.69%)  climbed 3%. Analysts at RBC raised their rating on the stock to outperform from sector perform.

The NYSE Arca Pharmaceutical Index /quotes/comstock/10t!drg.x (DRG 312.84, -0.16, -0.05%)   and the NYSE Arca Biotechnology Index /quotes/comstock/10t!btk.x (BTK 1,378, -6.97, -0.50%)   were both marginally lower at 312 and 1,379, respectively.

Profile: 

Xenoport, Inc.
3410 Central Expressway
Santa Clara, CA 95051
United States - Map
Phone: 408-616-7200
Fax: 408-616-7210
Website: http://www.xenoport.com

Details   
Index Membership: N/A
Sector: Healthcare
Industry: Biotechnology
Full Time Employees: 108


Business Summary   

XenoPort, Inc., a biopharmaceutical company, focuses on developing internally discovered product candidates that utilize the body’s natural nutrient transport mechanisms to enhance the therapeutic benefits of drugs. The company licenses its lead product candidate XP13512, a transported prodrug of gabapentin, to Astellas Pharma Inc. in Japan and five Asian countries, as well as to Glaxo Group Limited (GSK) in the United States and internationally. Astellas and GSK filed new drug applications for the approval of XP13512 as a treatment for restless legs syndrome in Japan and the United States. The company also develops Arbaclofen Placarbil, which is under Phase IIb clinical trials for the treatment of gastroesophageal reflux disease. In addition, it develops Arbaclofen Placarbil that has completed Phase II clinical trials for the treatment of spasticity. Further, the company develops XP21279, a transported prodrug of L-Dopa, which has completed Phase I clinical trials for the treatment of Parkinson’s disease; and XP21510, a transported prodrug of tranexamic acid, that is in preclinical stages for the treatment of menorrhagia or heavy menstrual bleeding. XenoPort, Inc. has strategic alliances with Astellas Pharma, Inc. and Glaxo Group Limited. The company was founded in 1999 and is based in Santa Clara, California.


Business Overview

BRIEF: For the fiscal year ended 31 December 2010, XenoPort, Inc.'s revenue decreased 92% to $2.9M. Net loss increased 24% to $82.5M. Revenues reflect a significant decrease in collaboration revenue and lower net revenue from unconsolidated joint operating activeties. Net loss was offset by presence of restructuring charges. the XenoPort Inc is the biopharmaceutical company focused on developing and commercializing transported prodrugs. http://www.xenoport.com