Biotech Roundup: VIVUS (NASDAQ:VVUS), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), Galena Biopharma (NASDAQ:GALE), Biogen Idec Inc. (NASDAQ:BIIB)

Pompano Beach, FL -- (SBWIRE) -- 01/03/2013 -- Biotechnology sector was among the bullish moving sector of the day with positive change of +0.16% at 12:56 am supporting the broader healthcare sector which was moving up +0.20%.

Among the biotech movers, few most actively traded stocks with leading volumes on Thursday included Biogen Idec Inc. (NASDAQ:BIIB), Galena Biopharma (NASDAQ:GALE) and Arena (NASDAQ:ARNA).

Biogen (BIIB) stock was finding its way above the trend line as an experimental drug to fight against amyotrophic lateral sclerosis, normally called Lou Gehrig's disease in the United States, failed to show efficacy in a crucial trial and Biogen Idec stated that it would halt creation of the cure.

What was pushing down Biogen Stock in bearish claws? Find in this report

The drug, dexpramipexole, had revealed promise and looked to combat against ALS in a mid-stage clinical trial in 2011, creating a chance for patients suffering from the progressive, deadly disease, who presently have lesser options.

In separate news Piper Jaffray began coverage on stock of Galena Biopharma (NASDAQ: GALE) in a research note given to investors on Monday. The firm gave an overweight rating and a kept target price of $2.50 on the stock.

What Experts have got for Galena Biopharma stock? Get results here

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) shares were trading just below the trend line on Thursday as the company declared this week that the it is ready to present at the 31st Annual J.P. Morgan Healthcare Conference on Wednesday, January 9, 2013, at 3:30 p.m. Pacific Time (6:30 p.m. Eastern Time) at The Westin St. Francis in San Francisco, California. Jack Lief, Arena's President and Chief Executive Officer, is slated to give a corporate summary to audience.

Can Arena please investors at its upcoming conference? Find out here

VIVUS (NASDAQ:VVUS) was trading bullishly on Thursday with strong volume on the board as the recurrence of obesity drugs following over a decade has received passionate investor focus.

VIVUS (NASDAQ:VVUS) and Arena Pharmaceuticals (NASDAQ:ARNA) led the tables and spent most of the year in this way. VIVUS' Qsymia turned into the primary drug to the market, but its unenthusiastic initial performance put sold water on raging market confidence.

How VIVUS cheered up investors in 2012? Find out here

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