Healthcare Review : RadNet & Seattle Genetics Jump, Progenics & PhotoMedex Fall On Earnings Print E-mail
By Staff and Wire Reports   
Thursday, 09 August 2012 15:07
icon_SectorWatchU.S Stocks were trading slightly lower after gaining for the fourth straight session on Wednesday as investors are watching other development in the European region. Several healthcare stocks were making notable news at mid day on Thursday:

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) reported second quarter net loss of $10.7 million or $0.32 basic and diluted per share, as compared to net income of $55.5 million or $1.64 per share in the same period in 2011. Second quarter revenue totaled $1.8 million, down $72.6 million from the 2011 period. The decrease reflects a decline in upfront and reimbursement revenue from the Salix collaboration and lower research grant revenue, partially offset by a $1.1 million increase in royalty revenue.

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) reported total revenue of $1.5 million for the three and six months ended June 30, 2012, as compared to nil and $4.0 million for the same periods in 2011. The company reported a net loss of $8.6 million and $22.5 million for the three and six months ended June 30, 2012, as compared to net losses of $8.2 million and $6.4 million for the same periods in 2011. The company’s cash, cash equivalents and marketable securities totaled $29.3 million as of June 30, 2012, as compared to $44.1 million as of December 31, 2011.

Seattle Genetics, Inc. (NASDAQ:SGEN) reported a second quarter net loss of $17.24 million or $0.15 per share, as against $51.51 million or $0.45 per share in the prior-year quarter. Revenues for the quarter more than tripled to $48.82 million from $13.05 million in the same quarter last year. Analysts expected a loss of $0.15 per share on revenue estimate of $50.33 million. Shares of SGEN rose 4%.

Eli Lilly & Co. (NYSE:LLY) stock gained 0.42% to $43.03 in the pre-market hour after the company announced that it has revised certain elements of its fiscal 2012 financial guidance to reflect additional income that the company will get as a result of the early payment of financial obligations from Amylin Pharmaceuticals.

The company still expects fiscal 2012 non-GAAP earnings per share to be in the range of $3.30 to $3.40, but expects fiscal 2012 earnings per share (EPS) to be in the range of $3.72 to $3.82 on a reported basis. The Company still anticipates fiscal 2012 revenue of between $21.8 and $22.8 billion. Analysts on an average were expecting the company to report EPS of $3.29 and revenues of $22.7 billion for fiscal 2012.

RadNet Inc. (NASDAQ:RDNT) reported second quarter revenue, adjusted EBITDA and net income of $171.7 million, $31.4 million and $2.9 million, respectively. Net Income for the second quarter was $0.07 per diluted share, compared to a Net Income of $0.09 per diluted share in the second quarter of 2011. Shares of RDTN surged 3.60%.

PhotoMedex, Inc. (NASDAQ:PHMD) stock climbed 5.85% to $14.65 in the pre-market hour after the company reported second quarter net income of $4.20 million or $0.20 per share, as compared to net loss of $10 million or $0.98 per share for the year-ago quarter. Adjusted earnings for the quarter were $12 million or $0.56 per share. Net revenue for the quarter surged 74% to $58.90 million from $33.85 million last year. Analysts expected the company to earn 0.30 per share on revenue estimate of $53.92 million for the second quarter.




"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 

Newsletter