|Healthcare review: Tranzyme, AcelRx, Gilead Sciences, AspenBio Pharma, Threshold Pharmaceuticals Are Notable Movers|
|By Staff and Wire Reports|
|Thursday, 15 November 2012 15:18|
Stocks have struggled recently to hold onto even slight gains, dropping more than 1 percent on Wednesday after starting the session higher. Investors worry the economy could slip into recession if no deal is reached in Washington to avoid the fiscal cliff - budget cuts and tax hikes that begin to take effect in the new year. The S&P 500 is off about 2 percent for the week so far.
Following are the notable movers at mid day on Thursday:
Tranzyme Inc(NASDAQ:TZYM) plunged 76% t after reporting negative preliminary results from the first of two trials assessing its TZP-102 treatment for diabetic patients with a common stomach complication. Neither the 10mg dose group nor the 20mg dose group of TZP-102 patients reached statistical significance vs. a placebo.
AcelRx Pharmaceuticals Inc(NASDAQ:ACRX) climbed 6.60% after saying that its under-the-tongue NanoTab system for relieving pain after surgery came out on top in a direct head-to-head with morphine in a Phase III trial. Patients loved it and so did nurses. NanoTab system is being tested in two other late-stage studies.
Gilead Sciences, Inc.(NASDAQ:GILD) says Phase 3 clinical trial results from its study comparing single tablet regimens of Complera versus Atripla in adults with HIV infection demonstrated that Complera - which is marketed as Eviplera in the E.U. - showed a statistically significant difference in efficacy compared to Atripla among patients with low baseline viral load, and was non-inferior to Atripla among patients with high baseline viral load. Separately, the company also reports that two-year results from two Phase 3 tests of it's newest single tablet HIV regimen, Stribild, also showed it was non-inferior after two years of treatment as compared to two other standard HIV regimens. Shares of the company are up 0.50% to $72.66.
AspenBio Pharma, Inc.(NASDAQ:APPY) slid 14% after pricing its previously announced secondary offering of 1.5M shares at $2.10 each, a 15% discount to Wednesday's close. The diagnostic-product developer has a 7.7M share float outstanding at the beginning of November.
Threshold Pharmaceuticals, Inc.(NASDAQ:THLD) added 5% an updated results from a Phase II trial of Threshold's (THLD) TH-302 treatment suggest that the drug can be used in patients with soft-tissue sarcoma, first in combination with chemotherapy doxorubicin, and then on its own as a maintenance treatment. The results support Phase III trials of the regimen.