Stocks On The Move - December 7

Stocks Rise on Heavy Volumn:

• Vanda Pharmaceuticals Inc. (VNDA): shares of Rockville, Maryland based biotechnology company skyrocketted 68.71% to new 52 weeks high of $26.15 per share after positive late stage trial of company's schizophrenia drug. The stock was the leading gainer on Nasdaq today with 10.98 million shares traded.
• Titan Pharmaceuticals Inc.(TTP): shares of South San Francisco, CA based developer of therapeutics for treatment of central nervous system disorders jumped 54.01% to $3.65 per share after the phase III clinical trial of iloperidone, a antipsychotic show positive result. The stock was the leading gainer on AMEX today with 7.37 million shares traded.

Stocks Drop on Heavy Volumn:

• Cree Inc. (CREE): shares of Durham, NC based LED maker tumbled 12.88% to $18.39 per share on lower second quarter guidance. The stock was the seventh leading decliner on Nasdaq today with 8.39 million shares traded.
• Insmed Inc. (INSM): shares of the Glen Allen, VA based drug maker for metabolic diseases kept sliding with another 12.06% drop to $1.15 per share due to yesterday's lost battle in the court to Tercica and Genentech over a patent infringement case. Two weeks ago the stock was still trading close to $2 per share. The stock was the eighth worst stock on Nasdaq today with 12.06 million shares traded.