Healthcare Review: Amarin Corporation, Pluristem Therapeutics, Agenus, Sequenom, ISIS Pharmaceuticals Are Notable Movers Print E-mail
By Staff and Wire Reports   
Friday, 09 November 2012 15:03
Stocks advanced on Friday, but were well off session highs after comments by President Barack Obama and House of Representatives Speaker John Boehner left investors little hope that a deal to avoid the "fiscal cliff" was on the horizon.

Both the S&P 500 and the Nasdaq had risen 1 percent around midday following economic data showing consumer sentiment was at its highest level in more than five years and wholesale inventories jumped in September.

Amarin Corporation plc (ADR) (NASDAQ:AMRN)
stock gained 7.61% to $11.03 after the company reported a third-quarter GAAP net loss of $26.4 million, or $0.18 per share, as compared to net income of $96.3 million, or $0.62 per share in the year ago quarter. Analysts expected the company to report a loss of $0.22 per share for the quarter. Non-GAAP adjusted net loss was $39.4 million or $0.26 per share. The company did not generate revenue for the both latest and prior year quarter.

Pluristem Therapeutics Inc. (NASDAQ:PSTI)
shares increased 8.39% to $3.09. The company offered comments on an article published in Bloomberg on November 7, 2012. Pluristem has submitted a direct request to Bloomberg to publish a correction because the article it published is factually inaccurate and misleading.

The company has requested that the news agency issue a correction specific to the article's claim and implication that Pluristem knew of the death of this patient at the time of a recent capital raising transaction and withheld this information from its investors. A morning report contradicted Bloomberg and pointed out that Pluristem management and did not learn of these facts until after the financing was completed.

Agenus Inc. (NASDAQ:AGEN)
stock climbed 5.18% to $4.47 after the company announced the second complete set of results from the Phase 3 trial of GlaxoSmithKline's RTS,S malaria vaccine candidate (also known as Mosquirix), which contains Agenus' QS-21 Stimulon adjuvant. QS-21 Stimulon is a component of AS01, one of GSK's proprietary adjuvant systems used in RTS,S.

Sequenom, Inc. (NASDAQ:SQNM)
shares climbed 20.46% to $3.65 in the early hour after the company reported a third quarter net loss of $0.26 per share, as compared to the loss of $0.19 per share last year. Revenues came in at $22.9 million, up from $13.6 million in the previous year.

ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS)
stock surged 16.17% to $8.89 after the company reported a pro forma net operating loss (NOL) of $26.0 million and $36.0 million for the three and nine months ended September 30, 2012, respectively, compared to a pro forma NOL of $20.0 million and $44.9 million for the same periods in 2011. The Company ended the third quarter of 2012 with $343.6 million in cash.

Additionally, Cowen upgraded shares of ISIS from a neutral rating to an outperform rating in a research report released today.

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