Stock Market Champs..........9-25-06

Acorda Therapeutics, Inc. (ACOR)

Last Trade:	7.50
Trade Time:	3:07PM ET
Change:	5.28 (237.84%)

Acorda Therapeutics Shares Triple As Multiple Sclerosis Drug Succeeds in FDA Recommended Study

Shares of Acorda Therapeutics Inc. more than tripled Monday, hitting a new 52-week high, after the biotech drug developer announced the success of a late-stage clinical trial to test its treatment to improve the walking ability of multiple sclerosis patients.

Acorda shares rose $5.25 to $7.47 in midday trading on the Nasdaq. Earlier in the session, shares went as high as $7.75. They hit an all-time low of $2.20 on Thursday after sliding from a previous high of $7.48 on their first day of trading on Feb. 10.

The company released results from its Phase III study of Fampridine-SR showing that nearly 35 percent of patients taking the drug improved their walking speed compared with just over 8 percent of patients taking a placebo. Of those patients who responded, those given Fampridine rated significantly better on a walking scale than those given a placebo. Improvements lasted over the 14-week treatment period.

The three criteria were those outlined by the Food and Drug Administration's Special Protocol Assessment, a study design that is most likely to yield the best results. The company said it plans to meet with the agency soon to discuss how to advance the drug closer to a possible approval.

The results represent one of the two positive trials the company will need for FDA approval. The drug has Orphan Drug status from the agency for improving walking in multiple sclerosis patients, meaning the company will have seven years of marketing exclusivity for that use should it be approved.

Multiple sclerosis is an incurable disease which causes the body's immune system to destroy the insulation of nerve fibers. The company said lab studies have shown that Fampridine can improve communication between damaged nerves.

In a research note, Rodman & Renshaw analyst Elemer Piros maintained his "Outperform" rating on the company with a target price of $14.

GPC Biotech AG (GPCB)

Last Trade:	18.45
Trade Time:	3:02PM ET
Change:	4.45 (31.79%)

Pharmion Corp. (PHRM)

Last Trade:	21.70
Trade Time:	3:08PM ET
Change:	3.69 (20.49%)

Pharmion, GPC Biotech Shares Soar
Pharmion, GPC Biotech and Spectrum Shares Gain on Positive Late-Stage Satraplatin Study

Shares of several partnered biotechnology companies surged Monday after a prospective prostate cancer treatment lowered progression rates in a late-stage study.

Pharmion Corp. gained $3.92, or 21.8 percent, to reach $21.93 in afternoon trading on the Nasdaq, as trading volume rose more than sixfold from its average. Shares have traded between $14.76 and $23.34 over the last 52 weeks.

Meanwhile, American depositary shares of Germany-based GPC Biotech AG jumped $4.46, or 31.8 percent, to $18.46 on the Nasdaq, as trading volume surged to more than elevenfold. Early in the day, the stock climbed to a new 52-week high of $19.45, replacing the previous high of $18.59 set on Feb. 27.

The study showed that prostate cancer patients receiving satraplatin with prednisone had a 40 percent lower risk of disease progression, compared with those given placebo with prednisone. Boulder, Colo.-based Pharmion said it plans on filing a marketing application for the drug in Europe during the first half of 2007 while GPC Biotech plans to file with the Food and Drug Administration by the end of the year.

The news prompted Lazard Capital Markets analyst Matthew S. Osborne to upgrade Pharmion's stock to "Buy" from "Hold" with a $28 price target.

"We expect satraplatin to contribute meaningfully to Pharmion revenues," he said in a note to investors.

The assessment, which factors in competition, said the modest penetration of the European market could generate sales of $112 million by 2011 for the drug's current indication as a second-line treatment. Possible expansion to other uses leaves room for potential upside.

As part of the collaboration, Pharmion will pay GPC Biotech 26 percent to 30 percent royalties on sales of the drug below $500 million.

Osborne also reaffirmed his "Buy" position with a $10 price target on Spectrum Pharmaceuticals. The Irvine, Calif.-based company said it could see up to $20 million in milestone payments stemming from U.S. and European approval. It is partnered with GPC Biotech.

The stock rose $1.32, or 37.8 percent, to $4.81, as trading volume soared more than 32 times its average. Shares have traded between $3.36 and $5.69 over the last 52 weeks.

Learn How To Investigate Corporate Directors

Warrior Energy Service Corp. (WARR)

Last Trade:	24.20
Trade Time:	3:10PM ET
Change:	9.86 (68.76%)

Superior Energy Services to Buy Warrior Energy in $358 Million Deal

Oil field services provider Superior Energy Services Inc. said Monday that it agreed to acquire Warrior Energy Services Corp. in a cash and stock deal valued at about $358 million.

Under the deal, the Harvey, La.-based company will pay about $175 million in cash and 5.3 million shares of common stock for Warrior, a natural gas and oil well services company.

Warrior will receive $14.50 in cash and 0.452 shares of Superior common stock -- which works out to roughly $26.33 -- a nearly 84 percent premium to Warrior's closing price of $14.34 on Friday.

Shares of Warrior soared on the news, climbing $9.74, or 67.9 percent, to $24.08 in afternoon trading on the Nasdaq, as volume surged more than 40 above times its average.

Superior estimates the acquisition, which will expand its presence beyond the Gulf of Mexico, will boost its 2007 earnings per share. The transaction, unanimously approved by the Warrior Energy board of directors, is expected to close late in the fourth quarter of 2006.

In connection with the deal, Superior has secured a commitment for $200 million in long-term debt.

"This accretive acquisition represents an important step in our continuing strategy of significantly diversifying our services footprint beyond the Gulf of Mexico," said Terence Hall, Superior's chairman and chief executive.

"It will appreciably strengthen our foothold in the domestic onshore market, bringing with it a seasoned management team with extensive onshore oilfield services experience and over 570 skilled employees," he added.

Shares of Superior fell $2.96, or 11.3 percent, to $23.22 in afternoon trading on the New York Stock Exchange.

Maritrans Inc. (TUG)

Last Trade:	36.63
Trade Time:	3:06PM ET
Change:	11.13 (43.65%)

Overseas Shipholding Group Inc. has agreed to acquire crude oil and petroleum shipper Maritrans Inc. in a cash transaction valued at about $455 million, the companies said jointly on Monday.

The value of the deal was based on OSG acquiring Maritrans for $37.50 per share, for the 12 million shares outstanding, plus the assumption of debt less cash as of June 30. OSG plans to use available cash and credit facilities to finance it.

Shares of Maritrans jumped 43.8 percent to $36.67 on Monday from Friday's close at $25.50 on the New York Stock Exchange. OSG shares fell $1.76, or 2.9 percent, to $58.99, on the NYSE.

Both boards unanimously approved the deal, which is expected to be completed by the end of 2006 and add immediately to OSG's earnings, they said. The deal requires Maritrans stockholder and regulatory approvals.

The acquisition will expand and diversify OSG, adding to operations in the U.S. Gulf coast, Florida and East Coast. Maritrans has 11 articulated tug barges, five product carriers and three large articulated tug barges under construction.

"The acquisition provides a strong strategic fit for OSG and increases its investment in the U.S. market which remains structurally tight and therefore highly attractive," Banc of America Securities analyst Philippe Lanier said in a note.

The acquisition may seem expensive relative to Maritrans' recent stock performance, but includes the three tug barges under construction, which reportedly can cost more than $75 million each, Lanier said.

Lanier said OSG's balance sheet supports the acquisition and it should not impede the company's share buyback program.

OSG had 2005 net income of $464.8 million with time charter equivalent revenue of $961.7 million. Maritrans' 2005 net income was $19.9 million with revenue of $180.7 million.