Healthcare Review: Cytori Therapeutics, Centene Corp, Alexza Pharmaceuticals, Celsion Corporation, Merck & Co Are Big Movers Print E-mail
By Staff and Wire Reports   
Friday, 14 December 2012 14:54

Stocks fell on Friday, with the Nasdaq weighed down by another drop in shares of Apple, and as the overhang of "fiscal cliff" negotiations kept buying to a premium. President Barack Obama and House of Representatives Speaker John Boehner held a "frank" meeting on Thursday at the White House to discuss how to avoid the tax hikes and spending cuts set to kick in early in 2013.

Following are the notable movers:

Cytori Therapeutics Inc. (USA) (NASDAQ:CYTX) shares declined 15.36% to $2.81 in the morning hour after the company announced the sale of 7,020,000 shares of its common stock in an underwritten public offering at a price to the public of $2.85 per share. The net offering proceeds to Cytori from the sale of the shares are expected to be approximately $18.5 million, after deducting underwriting discounts and commissions and other estimated offering expenses, but excluding any exercise of the underwriters` over-allotment option. CYTX anticipates using the net proceeds from this offering for general corporate purposes.

Centene Corp (NYSE:CNC)
stock dropped 8.89% to $40.97. The company announced its 2013 financial guidance. For its 2013 fiscal year, the Company expects Premium and Service Revenues in the range of $9.7 billion to $10.0 billion, Earnings per diluted share of approximately $2.60 to $2.90.

Full year 2012 earnings will be reported on February 5, 2013, at 6:00 AM, with the conference call at 8:30 AM (Eastern Time). The company will host an investor meeting, including a question-and-answer session, to discuss the details of its guidance.

Alexza Pharmaceuticals, Inc.(NASDAQ:ALXA)
stock increased 11.61% to $5.85 after ALXA and Grupo Ferrer Internacional SA said the Committee for Medicinal Products for Human Use adopted a positive opinion on recommending European marketing of schizophrenia and bipolar disorder treatment Adasuve, a win for the small drug maker.

Grupo Ferrer, a privately held European research and development-based pharmaceuticals and medical devices company, is Alexza's partner for Adasuve in several international countries.

Celsion Corporation(NASDAQ:CLSN)
shares fell 4.87% to $8.41. The company announced financial results for the third quarter ended September 30, 2012 and provided a business update including development progress with ThermoDox, Celsion's proprietary heat-activated liposomal encapsulation of doxorubicin for the treatment of hepatocellular carcinoma (HCC), commonly referred to as primary liver cancer.

ThermoDox is currently being evaluated under a Special Protocol Assessment with the U.S. Food and Drug Administration (FDA) in a global, multi-center, randomized, pivotal Phase III trial (the HEAT Study) in patients with non-resectable primary liver cancer.

Merck & Co., Inc.(NYSE:MRK)
shares dropped 1.02% to $43.50 in the early hour after MRK)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued yesterday. They currently have a $48.00 price target on the stock.
Additionally, the company announced its formal notification to the European Medicines Agency or EMA of its decision to withdraw the Marketing Authorization Application or MAA for bone tumor compound ridaforolimus, citing the agency's view that the data provided for the application is insufficient.

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