Healthcare Review: Tenet Healthcare , BioMimetic, Keryx Biopharmaceuticals Jump, Neuralstem Slumps Print E-mail
By Staff and Wire Reports   
Friday, 14 September 2012 13:30
U.S. stocks extended gain on Friday as global markets embraced the Federal Reserve’s bond-buying program.

Friday’s data showed U.S. retail sales rising along with the cost of living in August, both reflecting increased costs for gasoline. Industrial production contracted last month as consumer confidence unexpectedly brightened in September, with climbing stocks and home prices helping to bolster sentiment and offset escalating gasoline costs. Several healthcare stocks are making notable news at mid day on Friday.

Neuralstem, Inc. (NYSEAMEX:CUR)
shares dropped 13.77% to $1.19. The company announced the pricing of a registered direct offering of 7 million shares of its common stock, offered at a price to the public of $1.00 per share. The gross proceeds to Neuralstem from this offering are expected to be $7.0 million. The offering is expected to close on or about September 19, 2012. Aegis Capital Corp. is acting as sole placement agent for this offering.

Myrexis Inc (NASDAQ:MYRX)
stock fell 2.30% to $2.55 after the company provided an update on recent developments and reported results for its fiscal full year ended June 30, 2012. The Company ended its fiscal year with $89.6 million in cash, cash equivalents and marketable securities. The net cash used in operating activities was $27.8 million for the fiscal year ended June 30, 2012, as compared to $33.5 million for the same twelve month period ended June 30, 2011.

Net loss for the fiscal year ended June 30, 2012 was $31.2 million, or $1.18 per basic and diluted share, compared to $38.7 million, or $1.52 per basic and diluted share, for the same period ended June 30, 2011.

Tenet Healthcare Corporation (NYSE:THC)
stock gained 6.33% to $5.71. The company announced a $67 million investment in Sierra Providence East Medical Center in El Paso, Texas, that will further the hospital’s mission to provide high-quality care to the eastside community. The project includes the construction of a four-story tower and the expansion of the hospital’s existing patient tower and emergency department, totaling more than 145,000 square feet.

BioMimetic Therapeutics, Inc.(NASDAQ:BMTI)
shares climbed 6.55% to $4.39 in the early hour. The 52 week trading range for the company is $1.87 - $4.44. The shares of the company gained 22% in the last one year. The company is a biotechnology company. The Company is engaged in developing and commercializing products to the healing of musculoskeletal injuries and diseases, including therapies for orthopedic, sports medicine and spine applications.

Support.com, Inc. (NASDAQ:SPRT)
shares jumped 4.82% to $4.60. The company announced it has achieved the Silver Midmarket Solution Provider Competency in the Microsoft Partner Network. SPRT also announced it has maintained its status as Silver Competency for Desktop and its certification as a Small Business Specialist.
Zacks upgraded shares of SPRT from a neutral rating to an outperform rating in a report released on August 29.

Keryx Biopharmaceuticals (NASDAQ:KERX)
shares gained 4.37% to $2.51 in the morning hour. The 52 week trading range for the company is $1.28 - $5.19. The shares of the company declined 37% in the last one year. The company is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and renal disease.



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