Healthcare Review: PharmAthene & Codexis Slump On News, Amicus Rises Print E-mail
By Staff and Wire Reports   
Friday, 10 August 2012 14:08
icon_MarketReportDOWNU.S. stocks slid after posting 5-day of gains following an expected fall in the jobless claims last week. Several healthcare stocks are making notable news at mid day on Friday:


Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares fell 1.49% to $7.21 after the company reported a second-quarter net loss of $22.1 million or $0.12 per share, narrower than $22.9 million or $0.16 per share in the year-ago quarter. Total revenue rose to $21.98 million from $3.26 million in the comparable quarter last year. Analysts expected the company report a loss of $0.07 per share on revenue of $10.04 million for the second quarter.

PharmAthene, Inc. (NYSEAMEX:PIP) stock declined 14.38% to $1.25 after the company has received notification from the U.S. Food and Drug Administration or FDA that its SparVax rPA anthrax vaccine program has been placed on clinical hold. The Agency indicated that the company would get a letter containing the details of the basis for the clinical hold within 30 days.

Pfizer Inc. (NYSE:PFE) stock fell 0.04% to $23.85 after the company announced announced that its Phase 3 INTORACT trial , evaluating the combination of bevacizumab plus TORISEL compared with bevacizumab plus interferon-alfa-2a, or IFN-a-2a, did not meet its primary endpoint of superiority in extending progression free survival , or PFS, in the study population.

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares increased 0.21% to $4.76 after the company reported second quarter net loss of $13.77 million, as compared to a net loss of $10.24 million in the corresponding quarter last year. On a per-share basis, loss narrowed to $0.23 from $0.27reported for the year-ago quarter, on higher shares outstanding. Total revenues for the second quarter increased marginally to $2.01 million from $1.95 million reported for the year-ago quarter. Analysts expected loss of $0.25 per share on revenues of $2.17 million for the quarter.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw shares trade up to $5.12+0.35 and gain 7.34% during Friday's session. The biopharmaceutical company at the forefront of developing therapies for rare and orphan diseases, announced earlier that Bradley L. Campbell, Chief Business Officer, will present a corporate overview at the Canaccord Genuity 32nd Annual Growth Conference in Boston, MA on Thursday, August 16 at 10:30 a.m. ET.

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