Yesterday provided many more opportunities for those looking for short term plays in the biotech sector with some significant gains coming to fruition.
VLA and ANP both released trial updates yesterday although both were as expected with no major news.
The recruitment rate of VLA's Phase II trial in melanoma has increased rapidly while ANP has commenced dosing in the company's chronic toxicology study with results expected in early 2014.
Winners and losers NRT was the best performing biotech yesterday as it closed 18.75% higher. UNS finished the day up 15.83% to have it's best day for the month. NEU rebounded strongly after a period of consolidation, climbing 12.77% yesterday. ADO was the other biotech to post a substantial gain yesterday, finishing the day 11.67% ahead.
Losses were limited for the sector yesterday which was an encouraging sign. CZD shed 5.88% while the remaining stocks in the sector managed to curtail any heavy losses.
