|Healthcare Review: Sunshine Heart, ISIS Pharmaceuticals & Pluristem Jump, Exelixis Slides|
|By Staff and Wire Reports|
|Monday, 06 August 2012 12:49|
Sunshine Heart Inc (NASDAQ:SSH) stock surged 14.38% to $9.69 after the company announced that it has received conditional approval from the United States Food and Drug Administration (FDA) for its next generation C-Pulse System driver. This new iteration is designed to provide moderate to severe heart failure patients with enhanced patient comfort and performance.
Pluristem Therapeutics Inc. (NASDAQ:PSTI) stock surged 20.24% to $3.98 after the company said that it has saved the life of a second patient with aplastic bone marrow, a condition in which the patient's bone marrow doesn't produce new blood cells. Pluristem has applied for orphan drug status from the U.S. Food and Drug Administration for its treatment, based on stem cells derived from placenta.
Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) stock gained 2.15% to $40.37. The company is being investigated by the U.S. securities regulator over the company's compliance with a U.S. law that prohibits bribery of foreign officials. The company said in a filing with the U.S. Securities and Exchange last week that it had received a subpoena dated July 9 to produce documents in connection with its business practices in Latin America.
Endologix, Inc. (NASDAQ:ELGX) shares increased 6.18% to $12.37 in the morning hour after Lazard Capital upgraded shares of Endologix from a neutral rating to a buy rating. Lazard Capital now has a $15.00 price target on the stock.
The company last released its earnings data on July 26, 2012. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.05. Analysts expect that Endologix will post $-0.23 EPS for the current fiscal year.
Exelixis, Inc. (NASDAQ:EXEL) shares fell 8.78% to $5.09 in the early hour after the company announced that it plans to offer 20 million shares of its common stock and $225 million aggregate principal amount of convertible senior subordinated notes due 2019 in concurrent underwritten public offerings. The company expects to grant the underwriters 30-day options to purchase up to an additional 3,000,000 shares of common stock and up to an additional $33.75 million aggregate principal amount of convertible senior subordinated notes in connection with the offerings.
ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) shares climbed 10.22% to $13.37 after the company reported pro forma net operating income (NOL) of $6.2 million for the three months ended June 30, 2012, as 2012 compared to a pro forma NOL of $11.6 million for the same periods in 2011. The significant improvement in the Company's operating results was driven primarily by the $25 million milestone payment Isis earned from Genzyme when the FDA accepted the new drug application (NDA) for KYNAMRO(TM) in the second quarter. The Company ended the second quarter of 2012 with $336 million in cash.