Healthcare Review: 3SBio Inc, Peregrine Pharmaceuticals, Santarus , GTx Are Top Gainers Print E-mail
By Staff and Wire Reports   
Wednesday, 12 September 2012 14:10

U.S. stocks jumped modestly Wednesday with investors wary a day ahead of possible monetary-easing moves by Federal Reserve Chairman Ben Bernanke.

“There is always the risk Bernanke may not do anything, so I am not surprised the market is being a little cautious,” said Bruce Bittles, chief investment strategist at RW Baird & Co. Economic data Wednesday had import prices rising 0.7% in August, with the first gain in five months attributed to the increased cost of imported oil. Several healthcare stocks are making notable news at mid day on Wednesday.

Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY)
stock plummeted 18.09% to $2.31 after the company issued an update on its Phase III trial of REOLYSIN in combination with carboplatin and pacitaxeol for the treatment of head and neck cancers.

The company focused on the development of oncolytic viruses as potential cancer therapeutics has stated that it has completed an internal analysis of the blinded combined clinical data for all 80 patients enrolled in the first stage of the study.

3SBio Inc. (ADR) (NASDAQ:SSRX) stock jumped 15.70% to $13.41 after the company announced that Board of Directors has received a preliminary non-binding proposal letter dated September 12, 2012 from its Chairman and Chief Executive Officer, Dr. Jing Lou, and CPEChina Fund, L.P., an exempted limited partnership registered under the laws of the Cayman Islands and a China-focused private equity fund associated with CITIC Private Equity Funds Management Co. Ltd. (CITIC PE), to acquire all of the outstanding shares of 3SBio Inc. not currently owned by Dr. Lou and his affiliates in a going private transaction for $15 per American Depositary Share (ADS, each ADS representing seven ordinary shares of the Company) in cash, subject to certain conditions.

Peregrine Pharmaceuticals (NASDAQ:PPHM)
shares gained 12.29% to $4.47. The company announced that interim results from its Phase IIb trial in patients with refractory non-small cell lung cancer showed a statistically significant improvement in overall survival and a doubling of median overall survival in the bavituximab-containing arms, compared to the control arm.

Additionally, Roth Capital restated their buy rating on shares of PPHM and the firm currently has a $5.00 price target on the stock.

Santarus, Inc. (NASDAQ:SNTS)
stock climbed 7.44% to $8.38 after the company announced that its Phase III clinical study to evaluate the safety and efficacy of the investigational drug, rifamycin SV MMX, met the primary endpoint of reducing time to last unformed stool or TLUS in patients with travelers' diarrhea. The company said that the Phase III clinical study enrolled 264 patients, 65 patients on placebo and 199 patients on rifamycin SV MMX, in an international multicenter, randomized, double-blind, placebo-controlled trial to assess the efficacy and safety of rifamycin SV MMX.

Additionally, Analysts at Stifel Nicolaus boosted their price target on shares of SNTS from $8.00 to $11.00 and the firm currently has a “buy” rating on the stock.

shares increased 7.65% to $4.08 in the morning hour. The 52 week trading range for the company is $2.34 - $6.55. The shares of the company soared 23% in the last one year. The company is a biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules that target hormone pathways for the treatment of cancer, cancer supportive care, and other serious medical conditions.

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