|Healthcare Review: Aegerion Pharmaceuticals , Questcor Pharmaceuticals, Seattle Genetics, ISIS Pharmaceuticals Are Notable Movers|
|By Staff and Wire Reports|
|Tuesday, 16 October 2012 12:56|
As earlier profit warnings from large multinationals left investors leery of the third-quarter earnings season, Tuesday's earnings helped decrease concerns about the global economy.
Following are the notable movers at mid day on Tuesday:
Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) stock increased 7.79% to $18.82 after U.S. Food and Drug Administration medical reviewers said a proposed Aegerion drug that would treat a rare genetic disorder that causes very high cholesterol is effective at reducing cholesterol but there's a potential for it to cause liver damage.
StemCells, Inc. (NASDAQ:STEM) shares gained 2.67% to $2.31 after the company announced today the launch of four new SC Proven human neural stem cell (NSC) kits for use in neuroscience research. Each kit will contain high purity, multipotent NSCs derived from a different area of the human central nervous system (CNS), and will provide researchers with a reproducible and scalable serum-free platform with which to perform a broad range of assays.
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) shares climbed 7.03% to $24.79. The company announced that it will release third quarter 2012 financial results on Tuesday, October 23, 2012 after the close of the U.S. financial markets. The Company will host a conference call and slide presentation via webcast on Tuesday, October 23, 2012 at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss results and highlights of the quarter, as well as current corporate developments.
Additionally, Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who acquired Questcor Pharmaceuticals securities between April 26, 2011 and September 21, 2012.
Seattle Genetics, Inc. (NASDAQ:SGEN) stock increased 6.83% to $26.75. The company, last week, said it would receive milestone payments from its antibody-drug conjugate or ADC joint venture with Genentech, a member of the Roche Group. The milestones are resultant of Genentech's advancement of two ADCs in a collaboration with Seattle Genetics' technology into phase II clinical trials. Payment details, however, remain undisclosed.
ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) shares plunged 18.71% to $10.69 after Piper Jaffray lowered shares of ISIS from an overweight rating to a neutral rating in a research report released today.