|Healthcare Review: Alnylam Pharmaceuticals & Human Genome Jump On Positive News|
|By Staff and Wire Reports|
|Monday, 16 July 2012 13:19|
Human Genome Sciences (NASDAQ:HGSI) shares climbed 4.60% to $14.20 after GlaxoSmithKline and Human Genome Sciences today announced that the companies have entered into a definitive agreement under which GSK will acquire HGS for US$14.25 per share in cash. The transaction values HGS at approximately US$3.6 billion on an equity basis, or approximately US$3 billion net of cash and debt, and represents a premium of 99% to the HGS closing price of US$7.17 per share on 18 April 2012.The Boards of Directors of both companies have approved the transaction
Zogenix, Inc. (NASDAQ:ZGNX) shares increased 4.52% to $2.31 after the company announced that the U.S. Food and Drug Administration (FDA) has accepted for review the New Drug Application (NDA) for Zohydro ER (hydrocodone bitartrate extended-release capsules), Zogenix's lead investigational product candidate for the treatment of moderate to severe chronic pain.
St. Jude Medical, Inc. (NYSE:STJ) stock fell 0.41% to $38.75 after the company announced initial findings from the Riata(R) Lead Evaluation Study. The study's phase-one results found that externalized conductors occurred in 9.3% of the smaller-diameter Riata ST 7F leads in the study, and in 24% of the larger-diameter Riata 8F leads.
Nanosphere, Inc. (NASDAQ:NSPH) stock declined 1.34% to $2.95 after the company announced preliminary results for the second quarter ended June 30, 2012. The company reported second quarter 2012 revenues of $1.3 million as compared to $0.5 million for the same period in 2011 owing to new customer placements. Customer placements for the second quarter 2012 were 25 bringing the cumulative placements to 166.
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stock surged 33.55% to $16.72 after the company announced the achievement of positive clinical results from its Phase I trial with ALN-TTR02, an RNAi therapeutic targeting the transthyretin (TTR) gene for the treatment of TTR-mediated amyloidosis (ATTR). Results from this study show that administration of ALN-TTR02 leads to robust knockdown of serum TTR protein levels of up to 94%; the overall results were highly significant.