|Healthcre Review: Keryx Biopharmaceuticals, Repros Therapeutics, Biogen Idec, Herbalife Ltd, Idenix Pharmaceuticals|
|By Staff and Wire Reports|
|Monday, 28 January 2013 15:07|
Encouraging news about manufacturing provided an early boost, but stocks fell later after a report on the pace of home sales fell short of expectations.
Following are notable movers at mid day on Monday:
Keryx Biopharmaceuticals (NASDAQ:KERX) shares soared 91% on news its Zerenex experimental kidney disease drug had met its late-stage trial goal of reducing phosphate levels in blood. KERX expects to submit a new drug application with the FDA and a marketing authorization application with the EMA for Zerenex in Q2.
Repros Therapeutics Inc. (NASDAQ:RPRX ) slumped 32% as it plans to release data from a clinical trial of its Androxal treatment for secondary hypogonadism during Q3 instead of Q2 amid marked discrepancies in baseline sperm counts in the study. RPRX says it doesn’t expect the developments to affect the timing of its new drug application to the FDA.
Biogen Idec Inc.(NASDAQ:BIIB) rose 3% on a mixed Q4 report, missing on its bottom line but slightly beating on revenue. Net earnings actually fell 2.7% Y/Y, due largely to the company's preparations to launch its new multiple sclerosis drug BG-12, which masked revenue growth from its existing MS treatment. The company also boosted its FY13 revenue growth expectations to 10%. Analysts are looking for a 9% rise to $5.98B.
Shares of Herbalife Ltd.(NYSE:HLF) go parabolic after the FTC announces a press conference today to discuss an alleged pyramid scheme. The conference will be held out of the Kentucky Attorney General's office in Lexington, Kentucky, and is scheduled for 1:00PM EST. It's not yet clear whether the conference has to do with HLF however, and the speculation is hitting the stock hard. Shares of HLF slumped 8%.
Idenix Pharmaceuticals, Inc.(NASDAQ:IDIX) jumped 5% after saying it's entered into a non-exclusive collaboration with Janssen Pharmaceuticals for the clinical development of antiviral Hepatitis C vaccine combination therapies. The plans include an initial drug-drug interaction study to begin in the first quarter of 2013, followed by phase II studies pending approval from regulatory authorities.