|Healthcare Review: Amicus Therapeutics , Cytori Therapeutics, Cantel Medical, Threshold Pharmaceuticals Are Big Movers|
|By Staff and Wire Reports|
|Thursday, 11 October 2012 15:33|
The number of Americans filing new claims for unemployment benefits last week dropped by 30,000 to a seasonally adjusted 339,000, against the 370,000 economists had predicted.
Following are the notable movers at midday on Thursady.
Amicus Therapeutics, Inc.(NASDAQ:FOLD) shares jumped 6.85% to $6.01 after the company announced additional positive preliminary results from an ongoing Phase 2 open-label drug-drug interaction study (Study 010) to evaluate the safety and plasma pharmacokinetic (PK) effects of the pharmacological chaperone AT2220 (duvoglustat HCl) co-administered with enzyme replacement therapy (ERT) for Pompe disease (Myozyme(R) and Lumizyme(R)).
Cytori Therapeutics Inc. (USA)(NASDAQ:CYTX) shares climbed 6.20% to $4.28 in the early hour. The company announced the initiation of the FDA approved ATHENA clinical trial to investigate Cytori's cell therapy in patients who suffer from a severe form of refractory (untreatable) heart failure due to chronic myocardial ischemia. Cytori's cell therapy is based on a patient's own adipose-derived stem and regenerative cells (ADRCs) processed by the Company's proprietary Celution(R) System technology, making this the first FDA approved trial in the U.S. to evaluate ADRCs for cardiovascular disease.
Cantel Medical Corp.(NYSE:CMN) stock dropped 6.27% to $25.81 after the company reported fourth-quarter net income of $9.65 million or $0.35 per share, as compared to $4.68 million or $0.18 per share in the same quarter last year. Net sales increased to $98.69 million from $86.02 million last year. Analysts expected the company to report profit per share of $0.32 on revenue of $102.70 million for the quarter.
Threshold Pharmaceuticals, Inc.(NASDAQ:THLD) stock gained 5.89% to $5.57. The company, on Sept. 30, announced preliminary data from an ongoing dose-escalation Phase 1/2 clinical trial of its investigational hypoxia-targeted drug TH-302 in combination with bevacizumab in patients with recurrent glioblastoma. The company said that the vo dose-limiting toxicity has been reported to date in the first two dose cohorts (240 mg/m2 TH-302 plus bevacizumab and 340 mg/m2 TH-302 plus bevacizumab); dose escalation is ongoing.
Idenix Pharmaceuticals, Inc.(NASDAQ:IDIX) shares climbed 5.83% to $4.09 in the early hour. Bank of America downgraded shares of Idenix from a buy rating to a neutral rating in a report issued on Sept. 21. They currently have $6.00 target price on the stock, down from their previous target price of $8.00. Analysts of Bank of America said that they are downgrading IDIX shares from Buy to Neutral based on a series of recent conversations, with mgmt as well as industry & academic experts at recent conferences (ICAAC Sep 9-12, and EASL-AASLD HCV Special Conf Sep 14-16), that left them with limited hope that IDIX will convince the FDA to allow further clinical testing of HCV nuc drug candidates with a “G” base.