Movers: AVEO Pharmaceuticals, Delcath Systems, ACADIA Pharmaceuticals, Aetna Inc, Durect Corporation Print E-mail
Tuesday, 30 April 2013 13:51
U.S. stocks fell on Tuesday after a weaker-than-expected index of Midwest business activity, and investors booked profits from a rally that took the benchmark S&P 500 index to a record. Data showed business activity unexpectedly contracted in the Midwest in April to its lowest level since September 2009 as a gauge of employment pulled back. Following are notable movers at mid day on Tuesday:-

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) shares dropped 25.81% to $5.54. The company on April 29 reported first quarter 2013 financial results. Total revenue for the first quarter of 2013 was approximately $0.3 million compared with $0.9 million for the first quarter of 2012. Net loss for the first quarter of 2013 was $34.1 million, or basic and diluted net loss per share of $0.69, compared with a net loss of $33.2 million, or basic and diluted net loss per share of $0.77, for the first quarter of 2012.

Delcath Systems, Inc. (NASDAQ:DCTH) shares decreased 38.72% to $0.854. The company, on April 8, announced that as a part of the Company's continued effort to increase efficiencies and reduce cash utilization, it has implemented a program designed to decrease the Company's 2013 quarterly operating cash utilization to between $9 million and $10 million from the previously communicated range of $9 million to $12 million, beginning in the second half of 2013.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares fell 4.32% to $12.62. The company, on April 11, announced that the U.S. Food and Drug Administration (FDA) has agreed that the data from the pivotal Phase III -020 study, together with supportive data from other studies with pimavanserin, are sufficient to support the filing of a New Drug Application (NDA) for the treatment of Parkinson's disease psychosis (PDP). As a result, ACADIA will no longer conduct the Phase III -021 study that was planned as a confirmatory trial and was scheduled to be initiated later this month.

Additionally, the company announced that it will report its unaudited financial results for the first quarter ended March 31, 2013 on Tuesday, May 7, 2013, after the U.S. financial markets close.

DURECT Corporation (NASDAQ:DRRX) shares climbed 25.60% to $1.57. - In conjunction with DURECT Corporation's (Nasdaq: DRRX) first quarter 2013 financial results press release, you are invited to listen to the conference call that will be broadcast live over the internet on Thursday, May 2, 2013 at 4:30 pm Eastern Time (1:30 pm Pacific Time).

Additionally, the company, on Feb. 28, announced financial results for the three months ended December 31, 2012. Total revenues were $3.3 million for the three months ended December 31, 2012 as compared to $8.9 million for the three months ended December 31, 2011.  Net loss was $5.5 million for the three months ended December 31, 2012 as compared to a net loss of $2.1 million for the same period in 2011.    

Aetna Inc. (NYSE:AET) shares gained 3.70% to $58.28. The company on April 30 reported a first-quarter profit that beat analyst expectations as customers used medical services lightly and

revenue in the health insurer's Medicare and

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Medicaid businesses rose 7 percent due to higher premiums.

The company said net income had fallen 4 percent to $490.1 million from a year earlier due to costs from the pending acquisition. Adjusted earnings rose to $1.50 per share from $1.34. On that basis, analysts were expecting $1.39 per share. Aetna said revenue increased to $9.54 billion and

that operating expenses had fallen during the first quarter because of cost-cutting.

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