QLT Inc. (USA) (NASDAQ:QLTI) rose 15.97% up to $4.37 on news QLT has settled a lawsuit brought by Massachusetts General Hospital.  QLT will pay $20 million to the Massachusetts General Hospital which has agreed to drop their lawsuit against QLT. QLT developed Visudyne, which treats age-related vision conditions, in cooperation with Massachusetts General and the Massachusetts Eye and Ear Infirmary.  Massachusetts General launched its suit in February on grounds that it was entitled to higher revenues from Visudyne sales. Headquartered in Vancouver, Canada, QLT Inc is a biopharmaceutical company which discovers, develops, and commercializes pharmaceutical products, primarily for ophthalmology and eye care.  The company’s Visudyne photosensitizer treats eye disease, known as age related macular degeneration; and severe near-sightedness, and presumed ocular histoplasmosis or other eye diseases.

Repros Therapeutics Inc. (NASDAQ:RPRX) gained 16.90% up to $0.822 on no news with 1,048,129 shares moving this afternoon. Based in The Woodlands, Texas, Repros Therapeutics is a development-stage biopharmaceutical company developing drug therapies for the treatment of serious female pelvic conditions, such as treatment of uterine fibroids, anaemia associated with excessive menstrual bleeding relating to uterine fibroids, and anaemia associated with uterine fibroids and endometriosis.  Repros Therapeutics has three late stage drug candidates in trials.

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Biotech: A Love Story

The hot stock information of the day includes:    QLTI, VYTR, PDEX

QLT Inc. (USA) (NASDAQ:QLTI) rose 15.54% up to $4.09  by midday on news the company  has sold its US subsidiary QLT USA Inc. to Tolmar Holding Inc. for approximately  US$230 million. QLT USA’s assets include the Eligard line of therapeutics for the treatment of prostate cancer.   QLT has decided to focus on their therapeutic treatment for macular degeneration (AMD), a leading cause of adult blindness in people over 55.  Based in Vancouver, British Columbia, QLT Inc develops pharmaceutical products for use in photodynamic therapy (PDT), using light-activated drugs to treat disease.

Vyteris, Inc. (OTC:VYTR) surged 47.95% up to $1.08  on no news; the company has gained 538% since April.   Headquartered in Fair Lawn, New Jersey, Vyteris, Inc produces its proprietary medical SmartPatch skin patches which allow for some 220 FDA approved drugs to be bio-absorbed into the skin; therefore avoiding needle administration.  Some applications of the SmartPatch include treatment for female infertility, migraines, pain management, and topical aesthetic.  The company also discovers and designs small molecule drugs.  

Pro-Dex, Inc. (NASDAQ:PDEX) advanced 12.03% up to $0.650 on no news.  Based in Irvine, California, Pro-Dex Inc is a motion control and power engineer providing high-tech and refined drive systems for the medical, dental, semiconductor, scientific research and aerospace markets worldwide.

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PicksThatMove.com is an independent electronic publication that provides information on selected publicly traded companies.  PicksThatMove.com is not a registered investment advisor or broker-dealer.  PicksThatMove.com affiliates, officers, directors and employees may buy and sell shares in any company mentioned herein and may profit in the event those shares rise in value.  We recommend Due Diligence before investing in any stock.