|Healthcare Review: BSD Medical Corporation, Keryx Biopharmaceuticals, Cambrex Corporation, Ariad Pharmaceuticals Are Notable Movers|
|By Staff and Wire Reports|
|Tuesday, 23 October 2012 13:00|
The Federal Reserve has been trying to drive the economy by keeping interest rates low, but the earnings season has cast doubt on whether the strategy is working.
BSD Medical Corporation (NASDAQ:BSDM) shares soared 25% after reporting clinical data demonstrating a threefold increase in tumor destruction in patients with advanced rectal cancer after using its its BSD-2000 Hyperthermia System in addition to preoperative radiochemotherapy. The treatment left no evidence of a viable tumor in a statistically significant number of patients. Researchers also said hyperthermia may sufficiently reduce tumor size to allow for increased rates of sphincter preservation surgery, thus allowing patients to maintain normal rectal function.
Keryx Biopharmaceuticals (NASDAQ:KERX) shares slid 7.22% to $2.57, extending its weekly fall to 12%. Keryx Biopharmaceuticals, Inc. (Keryx) is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and renal disease. The Company is developing KRX-0401, an oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase pathway, and also affects a number of other key signal transduction pathways.
Cambrex Corporation (NYSE:CBM) slumped 7% after the company’s rival Sigma-Aldrich Corp.'s (third-quarter profit slipped 4.3% as higher input costs masked stronger overall sales. The supplier of chemical products and kits for high-tech scientific research posted in-line earnings but revenue fell short of Wall Street's expectations.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) slid 2% on a downgrade to Perform on valuation at Oppenheimer. The firm says that Ponatinib, its potential treatment for chronic myeloid leukemia, is already priced into the stock, and notes that it's too early to call its lung cancer drug AP26113 a winner.
Cynosure, Inc. (NASDAQ:CYNO) rose 6% after following its solid Q3 earnings beat this morning. Total revenue soared over 31% Y/Y on strong laser product sales growth in both its U.S. and international markets. Gross margin also improved by 170 bps to 58.2%. The quarter's results are a marked improvement from the same period last year, when it reported a loss of $0.06 per share.