Shares of Able Energy ABLE ENERGY INC (Nasdaq:ABLE) soared 39% to $11.20 after the Rockaway, N.J., company reported earnings of $569,461, or 28 cents a share, on sales of $23.7 million for its fiscal third quarter. This performance compares to a profit before items of $436,813, or 22 cents a share, on sales of $16.6 million in the same period a year earlier. Thomson First Call doesn't publish a consensus estimate for the company's results. The company said its margins improved in the latest quarter with expenses falling 6.5% on a year-over-year basis. Breaking from the biotech pack was Aastrom Biosciences (NASDAQ :ASTM) , which jumped 16% to $2.38 in early trade. Aastrom reported encouraging results from an early clinical trial test of its stem cell transplantation therapy as a healing agent for severe bone fractures. The Amex Biotechnology Index dipped 0.1% to 537.81 while the Amex Pharmaceutical Index was flat at 333.12. Fellow stem cell researcher Stemcells Inc. (Nasdaq:STEM) also got a bounce out of the news, rising 5% to $3.21.

U.S. BioDefense (OTCBB:UBDE) announced that it has entered into a definitive agreement with the University of Texas MD Anderson Cancer Center. The company has the priority option to review and license the patent pending technology entitled ``Use of Non-marrow Stem Cell for Cardiac Regeneration''. Bone Marrow and Stem Cell Transplants can be Life-Saving for People with Blood Cancers, Solid Tumors and Some Non-Cancerous Blood Disorders. CEO David Chin stated that, ``We are very excited to announce to shareholders that the company has entered into an evaluation agreement for the cardiac regeneration of stem cell technology. Currently, the use of these stem cells for myocardial regeneration may prove to be superior to other stem cell sources by circumventing the pain and anesthesia complications associated with bone marrow aspiration procedures, by doing so would also reduce the number of deaths associated with bone marrow transplants.''