Friday’s biggest gaining and declining stocks

Palm Beach, FL 6/15/12 (StreetBeat) – The following stocks were making notable moves Friday in U.S. stock trading:

Gainers

Royal Bank of Scotland Group PLC’s (NYSE:RBS) U.S. shares added 8%. U.K. banks were boosted by a speech late Thursday by Chancellor George Osborne that the Bank of England will activate an emergency lending program under which auctions of short-term sterling liquidity can be held at any time. Osborne further said the Treasury will provide cheap funds to domestic banks if they boost lending to British households and companies.

YPF SA’s (NYSE:YPF) U.S. shares jumped 12% after Carlos Slim, the Mexican billionaire, revealed he had taken a more than 8% stake in the Argentine energy company.

Decliners

Dyax shares (Nasdaq:DYAX) fell 9%. The company said it will discontinue Phase 2 clinical trial of its drug ecallantide for a type of angioedema.

MicroVision Inc. (Nasdaq:MVIS) shares fell 24%. The firm said it would make a secondary public offering of common shares and warrants to purchase common stock..

II-VI, Inc. (Nasdaq:IIVI) was down 9% after the company cut its profit outlook for the current quarter and full fiscal year.

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Dyax (Nasdaq: DYAX) calls early halt to Kalbitor clinical trial

Northern, WI 6/15/12 (StreetBeat) -- Dyax Corp. (Nasdaq: DYAX) said Thursday it is stopping a clinical trial of its angioedema drug Kalbitor because the drug was not working better than a placebo.

Kalbitor is approved as a treatment for acute attacks of hereditary angioedema, a rare genetic disorder that can cause dangerous swelling of the throat or larynx. Dyax is also studying the drug as a treatment for angioedema attacks caused by a group of drugs called ACE inhibitors. The drugs are used to treat high blood pressure and other conditions and angioedema is a known side effect.

The company said it is assessing its options in developing treatments for angioedema that is caused by ACE inhibitors.

Dyax said initial data from the mid-stage trial showed that Kalbitor was not significantly more effective than a placebo. In part that was because patients who were given the placebo did better than expected. The trial was designed to show that patients who took Kalbitor would be more likely to meet criteria that would allow them to be discharged from emergency rooms six hours after being treated.

Dyax said safety concerns did not play any part in its decision to end the study.

Shares of Dyax rose 7 cents, or 3.4 percent, to close Thursday at $2.14. The stock sank 24 cents, or 11.2 percent, to $1.90 after hours following the announcement.

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