Healthcare Review: Pfizer & Cryolife Gian climb, Dendreon slides big and Amarin bottoms out? Print E-mail
By Staff and Wire Reports   
Tuesday, 31 July 2012 14:33
icon_SectorWatchU.S. stocks retreated on Tuesday on lingering media report that Europe would take bold steps to curb its debt crisis, overshadowing an increase in U.S. consumer confidence. Several healthcare stocks are made notable moves at mid day on Tuesday. Pfizer Inc. (NYSE:PFE) stock gained 2.13% to $24.22 after the company announced top-line results from ORAL Start (A3921069), a Phase 3 study of the investigational agent tofacitinib, a novel, oral Janus kinase (JAK) inhibitor for the treatment of adults with moderate-to-severe active rheumatoid arthritis (RA).

Cryolife Inc (NYSE:CRY) shares climbed 10.51% to $5.89 after the company posted second quarter net income of $3.3 million, or $0.12 per basic and fully diluted common share, as compared to net income of $1.8 million, or $0.06 per basic and fully diluted common share, for the year ago period. Product revenues were $16.7 million for the second quarter of 2012, up 15% from $14.6 million in the second quarter of 2011.

Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) shares gained 10.09% to $28.37 after the company posted second quarter profit of $7.7 million, or $0.16 a share, as compared with a loss of $5.1 million, of $0.11 a share, in the year-ago period. The latest quarter includes stock-based compensation expense of $3.9 million, compared with a $4 million expense last year. Revenue rose 19% to $78.2 million for the quarter, primarily due to increases in U.S. sales where Xiaflex revenue climbed 21% and Testim revenue rose 26%.

Amarin Corporation (NASDAQ:AMRN) investors are hoping that shares have finally bottomed. Today‚Äôs action saw shares slump as low as $11.20 before bouncing back to  11.77 -0.94 (-7.40%) at the time of this report. Multiple analysts have $25+ price targets for the company,  whose business development discussions are expected to intensify, particularly headed into Q4.  They also expect ANCHOR sNDA to be filed in Q4, with approval likely to follow.

Dendreon Corporation (NASDAQ:DNDN)
stock plunged 20.63% to $4.91 after the company reported second-quarter net loss of $96.14 million or $0.65 per share, as against $115.99 million or $0.79 per share in the same period last year. Adjusted loss for the quarter was $60.21 million or $0.41 per share, as against $85.04 million or $0.58 per share in the prior-year quarter. Total revenues for the quarter grew to $79.99 million from $48.16 million in the same period q year earlier. Analysts expected loss of $0.59 per share on revenue estimate of $85.78 million for the quarter.

Zalicus Inc (NASDAQ:ZLCS) stock declined 0.11% to $1.04. The 52 week trading range for the company is $0.71 - $2.42. The shares of the company have plunged over 54% in the last one year. The company is a biopharmaceutical company that discovers and develops treatments for patients suffering from pain and immuno-inflammatory diseases.

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