Investor Edge: 10 Stocks to Watch at ASCO

Biotech investors are on the lookout for this year’s “sleeper hit” at the American Society of Clinical Oncology’s annual cancer-drug conference in Chicago this weekend. Investment analysts dig through a mountain of data presented by biotechs at ASCO searching for drugs with the potential for blockbuster returns.

Here are 10 companies with share prices under $10 that generated significant buzz heading into the conference:

Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) unveiled data for a drug that showed promise in treating two types of drug-resistant leukemia: chronic myeloid leukemia and Philadelphia chromosome-positive acute lymphoblastic leukemia. Ariad shares were at $3.56 in early trading Monday.

ArQule Inc. (NASDAQ: ARQL) reported encouraging results from a clinical trial involving patients with non-small-cell lung cancer. Its shares were at $4.93.

Aeterna Zentaris (NASDAQ: AEZS) reported final data from on its advanced ovarian cancer drug trial, which showed early signs of clinical benefit in patients with advanced refractory pediatric neuroblastoma. Its shares were at $1.63.

Delcath Systems Inc. (NASDAQ: DCTH) released data showing promising results with its drug-delivery treatment for melanoma patients. Its shares were at $12.71.

Celldex Therapeutics (NASDAQ: CLDX), with its partner Pfizer (PFE), released data on its CDX-011 trial, CDX-011 is in development for the treatment of melanoma and advanced breast cancer. It also unveiled data on CDX-1307, a cancer vaccine candidate that’s also being evaluated as a treatment for bladder cancer. Celldex shares were at $5.88.

Pharmacyclics Inc. (NASDAQ: PCYC) released data showing an early-stage trial for its non-Hodgkin's lymphoma treatment was effective in 49% of patients. Its shares were at $6.14.

Provectus Pharmaceuticals Inc. (NASDAQ: PVCT) unveiled promising data on a Phase 2 clinical trial for its treatment of metastatic melanoma. Its shares were at $1.32.

Oncolytics Biotech (NYSE: ONCY) and collaborators are expected to present data from clinical trials on its Reolysin treatment for various types of cancer. Shares were trading at $2.91.

Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) reported promising results from an early trial of its KRX-0401 treatment for recurrent pediatric solid tumors. Its shares were trading at $4.56.

Zipharm Oncology Inc. (NASDAQ: ZIOP) is expected to release data on its mid-stage study of cancer treatments in patients with soft-tissue sarcoma. Its shares were at $4.83.