|Healthcare Review: Synergy & Pluristem Jump, InterMune Slumps On Earnings|
|By Staff and Wire Reports|
|Monday, 23 July 2012 15:12|
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.
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).