BUZZ-U.S. STOCKS ON THE MOVE-Lipocine, Clovis, Southwestern Energy
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street opened sharply higher for the second day on Wednesday as the initial panic surrounding Britain's vote to leave the European Union settled and investors looked for bargains among beaten-down stocks. The Dow Jones Industrial Average was up 1.19 percent at 17,617.74, the S&P 500 was up 1.30 percent at 2,062.47 and the Nasdaq Composite was up 1.46 percent at 4,760.583.
** TESARO INC, $78.88, +111.99 pct
** CLOVIS ONCOLOGY INC, $14.5, +17.36 pct
** MYRIAD GENETICS INC, $30.79, +4.09 pct
Cancer drug maker Tesaro said its ovarian cancer drug met the main goal of prolonging survival in patients, without the disease worsening, in a late-stage trial.
Clovis is is developing a similar drug, while Myriad's diagnostic test was used to identify patients for Tesaro's trial.
** LIPOCINE INC, $3.03, -51.67 pct
The drugmaker said its oral testosterone replacement product did not get the approval in the United States. Continued...