Healthcare Review: Orexigen Therapeutics, Medgenics, TearLab Jump, ArQule & Discovery Laboratories Fall Print E-mail
By Staff and Wire Reports   
Wednesday, 29 August 2012 14:40

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U.S. stocks on Wednesday listed between small gains and losses in a third session of lackluster trade ahead of Federal Reserve Chairman Ben Bernanke’s speech later in the week. Several healthcare stocks are making notable news at mid day on Wednesday:


Orexigen Therapeutics, Inc. (NASDAQ:OREX) shares jumped 7.03% to $4.72 in the early hour. The 52 week trading range for the company is $1.26 - $7.73. The shares of the company surged 245% in the last one year. The company is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. 

Peregrine Pharmaceuticals (NASDAQ:PPHM) stock increased 3.34% to $2.45 in the morning hour. The 52 week trading range for the company is $0.39 - $3.21. The shares of the company soared 160% in the last six months. The company is a clinical-stage biopharmaceutical company that develops and manufactures monoclonal antibodies for the treatment of cancer and viral infections.

Medgenics, Inc. (AMEX:MDGN)(AIM: MEDU, MEDG) shares traded as high as $13.40 after climbing the last few sessions from a lows of $10.00; this following the firm's mid-day announcement that Israel’s Ministry of Health has approved two Phase I/II clinical trials to assess the safety and efficacy of INFRADURE™ in patients with hepatitis C. The news seen as key development since these are the first approved clinical studies for the subcutaneous autologous tissue implant developed to continuously produce interferon alpha (IFNa). INFRADURE has been designed to treat hepatitis B, C, and D, as well as a number of other diseases. Several other firms with HCV drug candidates have run into major regulatory hurdles in recent days, but success in these trials for Medgenics could go a long way toward validating the technology and landing key pharma partners more quickly.
 

ArQule, Inc. (NASDAQ:ARQL) stock plunged 24.93% to $5.03 after the company disclosed that it was informed by its Asian partner Kyowa Hakko Kirin that it has temporarily suspend patient enrollment in its ongoing Phase 3 ATTENTION trial on the recommendation of an independent Safety Review Committee in Japan after the reporting of suspected cases of interstitial lung disease in the study. 

Discovery Laboratories, Inc. (NASDAQ:DSCO) shares fell 3.73% to $3.10 in the early hour. Analysts at Stifel Nicolaus initiated coverage on shares of Discovery Laboratori (NASDAQ: DSCO) in a research report issued to clients and investors last week. The firm set a “buy” rating and a $5.00 price target on the stock. 

TearLab Corporation (USA) (NASDAQ:TEAR) stock increased 1.85% to $3.30 after Canaccord Genuity initiated coverage on TearLab with a Buy and they set price target at $6.00. The 52 week trading range for the company is $0.78 - $4.88. The shares of the company soared 170% in the last one year. 

Amarin Corporation plc (ADR) (NASDAQ:AMRN) shares gained 1.08% to $13.01 after the company said that additional data from its pivotal MARINE Phase 3 clinical trial are now available electronically through the Journal of Clinical Lipidology. The MARINE trial was a Phase 3, multicenter, placebo-controlled, randomized, double-blind, 12-week study.

 

 

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