Healthcare Review: AEterna Zentaris, Cell Therapeutics, Lexicon Pharmaceuticals, NPS Pharmaceuticals Are Notable Movers Print E-mail
By Mary Davila   
Friday, 12 October 2012 13:49
Stocks slipped on Wall Street Friday, putting the big indexes on track for their worst week since early June. Bank and energy stocks led the way lower after investors had a mixed reaction to earnings reports from JP Morgan and Wells Fargo.

Following are the notable movers at mid day on Friday.

AEterna Zentaris Inc. (USA)(NASDAQ:AEZS)
stock plummeted 22.44% to $2.42 after the company announced the pricing of its previously announced public offering of 6.6 million units, with each unit consisting of one common share and 0.45 of a warrant to purchase one common share, at a purchase price of $2.50 per unit. Each warrant will be exercisable for a period of five years following the issuance thereof at an exercise price of $3.45 per share. Net proceeds from the Offering are expected to be approximately $15.2 million.

Cell Therapeutics Inc. (NASDAQ:CTIC)
shares increased 6.31% to $1.50 after the company announced that on October 11, 2012 there has been the closing of its previously announced underwritten public offering of 60,000 shares of its Series 17 Preferred Stock, sold at a price to the public of USD 1,000 per share of Series 17 Preferred Stock (the Offering). Each share of Series 17 Preferred Stock is convertible at the option of the holder, at any time, into approximately 714 shares of common stock at a conversion price of USD 1.40 per share of common stock, for a total of approximately 42.9 million shares of common stock.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)
stock climbed 8.37% to $2.59 after the company announced positive, top-line data from a recently completed Phase 2 study in carcinoid syndrome with telotristat etiprate. Results from the trial will be presented at the North American Neuroendocrine Tumor Society on October 13, 2012 in San Diego, California.

WellPoint, Inc. (NYSE:WLP)
stock fell 0.32% to $62.61. The company will reorganize into four business units in the first major move undertaken by interim Chief Executive Officer John Cannon.

Additionally, Amerigroup Corp said it has delayed a stockholder approval vote on the $4.5 billion sale of the health insurer to WellPoint by two weeks after shareholders sued Amerigroup's board.

NPS Pharmaceuticals, Inc.(NASDAQ:NPSP)
shares gained 15.44% to $10.54. The company plan to manage the risks of Gattex, a drug for patients who have lost the ability to absorb nutrients, gained the support of U.S. regulators in a report. Food and Drug Administration staff said Gattex, the company’s lead experimental drug candidate, helped wean patients with short- bowel syndrome off a time-consuming intravenous nutrition program.

Additionally, Morgan Stanley began coverage on shares of NPSP in a research note issued to investors this week. The firm issued an overweight rating on the stock.

Achillion Pharmaceuticals, Inc.(NASDAQ:ACHN)
stock gained 5.20% to $10.92. The company last month, said it achieved positive proof-of-concept results for its hepatitis C drug, allowing it to move forward with its clinical trials of the drug. The company is among a handful of companies racing to bring an all-oral regimen for hepatitis C to the market. The new drugs being developed would eliminate an injectable drug used in the current standard treatment, interferon, which can be difficult for patients to tolerate.

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