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Biotech Gainers At Midday

The hot stock information of the day includes:   DEPO, AVII

DepoMed, Inc. (NASDAQ:DEPO) jumped 25.62% up to $5.54 on heavy volume with news the company’s drug candidate DM-1796 demonstrated excellent results in Phase lll trials and significantly reduced pain associated with postherpetic neuralgia.   Post herpetic neuralgia is severe pain caused by nerve damaged from complications resulting from shingles.   DepoMed expects to submit the marketing application for DM-1796 to the FDA by the end of the first quarter of 2010.  Based in Menlo Park, California, DepoMed, Inc is a specialty pharmaceutical company, which develops and commercializes therapeutic products in the US, based on proprietary oral drug delivery technologies.  The company sells Glumetza in the US, Canada and Korea for the treatment of type ll diabetes and Proquin XR in the US for the treatment of urinary tract infection.  DepoMedo currently has four drug candidates in trials including DM-5689 in Phase lll trails for the relief of menopausal hot flashes; DM-1796 in Phase lll trials for the treatment of postherpetic neuralgia and diabetic postherpetic neuralgia; Phase ll trials for DM-3458 for the relief of Gastroesophageal reflux; and DM-1992 which has successfully concluded pre-clinical trials for the treatment of Parkinson’s Disease.

AVI BioPharma, Inc. (NASDAQ:AVII) gained 28.21% up to $2.00  on news AVI BioPharma Inc  received another  $11.5 million from the US Department of Defense to develop its drug candidate for the treatment of Junin virus infection.  Junin virus causes Argentinian hemorrhagic fever which can be fatal, and is transmitted by rats.  Based in Portland, Oregon, AVI BioPharma, Inc is a biopharmaceutical company which uses gene research to discover and develop new therapies and vaccines. 

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