NASDAQ Stock Movers on FDA Decision (PPHM, RGEN, CVD, DYAX)

Peregrine Pharmaceuticals (NASDAQ:PPHM) and Affitech A/S announce that they have amended their worldwide licensing agreements for Brazil, Russia and other countries of the Commonwealth of Independent States (CIS) to expedite the development of a fully human antibody called AT001/r84 for these territories.

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Repligen Corporation (NASDAQ:RGEN) rose 4% to $3.44 after it announced that they have completed enrollment in the RG2417 Phase 2b.

This study is a double-blind, placebo-controlled trial designed to assess the efficacy of 8 weeks of treatment with RG2417 or a placebo on the symptoms of bipolar depression as measured by the Montgomery-Asberg Depression Rating Scale.

Enrollment in the trial is 175 patients spread across 29 U.S. clinical sites.

Covance Inc. (NYSE:CVD) rose 6.50% to $44.90 after announces that they have signed an agreement to become sanofi-aventis (NYSE: SNY) R&D partner.

CVD expects $1.2 - $2.2 billion in payments for R&D work over the next ten years.

Sanofi-aventis will sell their Porcheville, France and Alnwick, United Kingdom sites and facilities to Covance for approximately $25 million and Covance will maintain employment on these sites for at least the next five years. This transaction is expected to finalize before the end of 2010.

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Dyax Corp. (NASDAQ:DYAX) rose 3.40% to $2.43 after Dyax Corp. (Nasdaq: DYAX) and CMIC Co., Ltd, announce that they have entered an agreement for the development of DX-88 (ecallantide) for the treatment of hereditary angioedema (HAE) and other angioedema indications in Japan.

DX-88 has been approved by the U.S. Food and Drug Administration (FDA) and is marketed as KALBITOR (ecallantide).

Under the agreement DYAX will receive $4 million upfront and about $102 million upon the completion of certain milestone and sales goals. They will also be eligible to receive 20% - 24% of royalties.

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