Investor Edge: 10 Stocks to Watch at ASCO

Biotech investors were on the lookout for this year's "sleeper hit" at the American Society of Clinical Oncology's annual cancer-drug conference. Here are 10 companies with share prices under $10 that generated significant buzz on Wall Street heading into the conference.

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.