3 Stocks Soaring Higher on These Drug Successes

Three stocks hitting the ceiling today, and the drugs that put them there.

Feb 19, 2014 at 7:00PM

The biotech space had several winners today, and in this segment from Wednesday's Market Checkup, Motley Fool health care analyst David Williamson takes a look at which stocks popped in this space today, and what drove them through the roof.

First up is Chelsea Therapeutics (NASDAQ:CHTP), up a massive 20% on news that its drug Northera was finally approved. Despite the advisory committee's overwhelming support, the market was unsure if this would gain approval, but after delaying its decision from Friday until Tuesday, the FDA gave the thumbs-up.

Next is Furiex (UNKNOWN:FURX.DX), which had seen shares skyrocket 130% on the news that its IBS drug had passed its phase 3 trial with flying colors, and has now announced that it is looking for a buyer. The market showed initial enthusiasm on the news that Furiex was for sale, but that sentiment has now cooled slightly, possibly on the realization that finding a buyer may be easier said than done, as the company's drug isn't without its safety issues.

And finally, Eli Lilly (NYSE:LLY) got the win it needed with its critical drug candidate ramucirumab, which showed strong results in a phase 3 trial as a second line non-small cell lung cancer treatment. The market reacted positively with shares climbing about 5%, as the drug achieved statistical significance both in progression-free survival and overall survival rates.

In the video, David tells investors what to expect from these drugs from here, and what he'll be watching for from these companies down the road.

How do savvy investors play the biotech game?
The best way to play the biotech space is to find companies that shun the status quo and instead discover revolutionary, groundbreaking technologies. In The Motley Fool's brand-new free report "2 Game-Changing Biotechs Revolutionizing the Way We Treat Cancer," find out about a new technology that Big Pharma is endorsing through partnerships, and the two companies that are set to profit from this emerging drug class. Click here to get your copy today.

David Williamson and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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