IPO Stock Watch: Alder Soars On Migraine Drug Results
Small biotech and year-old new issue Alder BioPharmaceuticals (ALDR) soared more than 12% to a new high near 40 on Friday after it presented positive clinical-trial data on its migraine drug candidate, presenting a challenge to such larger players as Amgen (AMGN), Eli Lilly (LLY) and Teva Pharmaceutical (TEVA). Alder said that a single intravenous injection of its drug candidate ALD403 was still working in patients six months later, with 61%