|Healthcare Review : RadNet & Seattle Genetics Jump, Progenics & PhotoMedex Fall On Earnings|
|By Staff and Wire Reports|
|Thursday, 09 August 2012 15:07|
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.