Healthcare Review: Synergy & Pluristem Jump, InterMune Slumps On Earnings while Obagi Bounces Ahead Of Them
(Thomson Reuters ONE) -
U.S. stocks slumped on Monday pressured by rising soaring yields on Spain's 10-
year bond past 7.5% on Monday as government debt extended a selloff from Friday.
Also, Spanish and Italian regulators imposed a short-selling ban on Monday.
However, there are several healthcare stocks which are showing impressive
strength at mid day on Monday.
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is bucking the market trend and rose
3% to $4.47 after agreed to acquire Callisto Pharmaceuticals, a development
stage bio-pharmaceutical company focused primarily on the development of drugs
to treat GI disorders and diseases.
Pluristem Therapeutics Inc. (NASDAQ:PSTI) extended its past week's gain of 35%
and rose another 3% to $3.49. The company plans to apply for FDA authorization
of its stem cell treatment for aplastic bone marrow as an orphan drug or rare-
disease treatment. The benefits of orphan-drug status include an accelerated
regulatory process, possible grant money and tax credits. Pluristem also intends
to apply for similar designations outside the U.S.
Those who had been holding out hope for Monday buy-out news at Obagi Medical
Products, Inc. (NASDAQ:OMPI) dropped shares as low as $14.75 before other
speculators dove in for the discounted shares. Despite the overall market
decline, there has been a steady accumulation of OMPI shares in anticipation of
the Company's financial results for the second quarter; expected August 2 after
the market close. A recent report listed the firm as one of six rallying
healthcare stocks with strong receivable trends and observers expect to see
positive numbers from the company following several fundamental developments.
InterMune, Inc. (NASDAQ:ITMN) shares slumped 15% after posting weak revenue in
the latest quarter. The company posted revenue of $5.5 million, missing
analysts' target of $40 million. Loss from continuing operations came in at
$50.9 million, or 78 cents per share, again missing analysts' estimates of a
loss of 23 cents per share. The company expects full-year revenue from Esbriet
to be between $20 million and $25 million, while analysts estimate revenue of
$77.9 million.
Repligen Corporation (NASDAQ:RGEN) climbed 7% to $4.16 on unusual volume. Last
week, the company has received a Complete Response Letter from the U.S. Food &
Drug Administration (FDA) regarding the Company's New Drug Application for
RG1068 (synthetic human secretin).
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Source: Equity Briefing via Thomson Reuters ONE
[HUG#1628744]
Datum: 23.07.2012 - 20:38 Uhr
Sprache: Deutsch
News-ID 167823
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