Healthcare Review: Telik, PURE Bioscience, Neuralstem, Centene Corp, Arena Pharmaceuticals Print E-mail
By Mary Davila   
Monday, 14 January 2013 14:45
U.S. stocks traded mostly lower Monday after a two-week winning run, as shares of consumer-technology company Apple Inc. fell sharply on reports it had reduced orders for iPhone parts.

In Washington, President Barack Obama talked about efforts to reduce the U.S. deficit, calling for a “balanced package” involving more than just spending cuts to address the nation’s red ink. Federal Reserve Chairman Ben Bernanke is scheduled to speak at 4 p.m. Monday in Michigan, following comments delivered by Chicago Fed president Charles Evans that the central bank should continue to keep monetary policy accommodative as lawmakers cut U.S. spending.

Following are the notable movers at mid day on Monday

Telik, Inc. (NASDAQ:TELK) shares dropped 22.82% to $2.30. The company, on Jan. 11, said that it was notified that its product candidate, ezatiostat HCL (Telintra), has been granted orphan drug designation by the US Food and Drug Administration (FDA) for the treatment of myelodysplastic syndrome (MDS).  Orphan designation grants potential US market exclusivity to a drug for the treatment of a specified condition for a period of seven years following FDA marketing approval.

PURE Bioscience (NASDAQ:PURE)
shares jumped 13.08% to $1.03 in the early hour. The company is advising its institutional and household customers of the effectiveness of PURE™ Hard Surface disinfectant in killing various flu viruses, and emphasizing the product’s 24-hour residual protection capability. The Company recommends using PURE Hard Surface disinfectant and food contact surface sanitizer on all high-touch surfaces, including hand rails, banisters, handles, light switches, doorknobs, telephones, tabletops, chairs, remote controls, and appliances as well as on office, manufacturing and technical equipment.

Neuralstem, Inc. (NYSEAMEX:CUR)
stock gained 6.45% to $1.32 after the company announced that it received approval from the United States Food and Drug Administration (FDA) to commence a Phase I safety trial of its lead cell therapy candidate, NSI-566, in chronic spinal cord injury patients. This open-label, multi-site study, will enroll up to eight patients with thoracic spinal cord injuries (T2-T12), who have an American Spinal Injury Association (AIS) A level of impairment, between one and two years after injury. AIS A impairment refers to a patient with no motor or sensory function in the relevant segments at and below the injury, and is considered to be complete paralysis.

Centene Corp (NYSE:CNC)
shares dropped 1.44% to $41.05 in the early hour after the company announced that it has signed a definitive agreement to acquire Specialty Therapeutic Care Holdings, Inc. (d/b/a AcariaHealth), one of the nation's largest, independent, comprehensive specialty pharmacy companies, from Enhanced Equity Funds and affiliates for $152 million.

Additionally, the company announced that it will release its 2012 fourth quarter and year-end financial results at approximately 6:00 AM (Eastern Time) on Tuesday, February 5, 2013, and host a conference call afterwards at approximately 8:30 AM (Eastern Time) to review the results.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)
shares climbed 4.71% to $10.12. The company’s president and chief executive officer, Jack Lief, said last week that the company is looking for partners to sell the medicine abroad once it clears regulatory hurdles.



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