NASDAQ Stock Movers On FDA Decision (CHTP, MNTA, ELGX, ALXA)

Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) shares are climbed 1.25% to $4.09 the U.S. Food and Drug Administration approves the company’s to start Phase II trial for its rheumatoid arthritis treatment.

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As for the rheumatoid-arthritis study, patient screening should begin next month and the 12-week, 250-patient trial should start in October. Enrollees will be from multiple countries and suffer from rheumatoid arthritis, a chronic and systemic inflammatory disorder that afflicts about 1% of the world's population.

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) share are climbed 2.55% to $16.08 after the said that yesterday a distric court judge in DC denied sanofi-aventis's (NYSE: SNY) preliminary injunction request to suspend and withdraw FDA approval of the ANDA for generic Lovenox.

Momenta Pharmaceuticals, Inc. is a biotechnology company specializing in the characterization and process engineering of complex molecules. These complex molecules include proteins, polypeptides, and cell surface polysaccharides, such as heparan-sulfate proteoglycans.

Endologix, Inc. (NASDAQ:ELGX) is another notable stock mover within the sector and surged over 4% to $3.91 on very unusual volume after it announced today that its expanded offering of Powerlink stent graft products and PowerFit Aortic Extensions has received CE Mark to market in the EU.

A limited release will commence in Q410, with a full launch scheduled for FY11.

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Endologix, Inc. develops, manufactures, markets and sells treatments for aortic disorders. The Company’s product, the Powerlink System is a minimally invasive device for the treatment of abdominal aortic aneurysm (AAA).

Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) shares soared 4% to $2.90 after the company today announces licensure of Staccato nicotine tech to Cypress Bioscience, Inc. (Nasdaq: CYPB).

Staccato mimics nicotine effects of smoking without the harmful side effects of smoking cigarettes.

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