Healthcare Review: Oncolytics Biotech, Alnylam Pharmaceuticals, 3SBio Inc, Hansen Medical, Sirona Dental Systems Print E-mail
By Staff and Wire Reports   
Friday, 08 February 2013 14:12
U.S. stocks edged higher on Friday, with the benchmark S&P index hitting a five-year high, in the wake of a batch of encouraging domestic and international economic reports.

Data showing stronger international trade in China and Germany, and a report indicating the U.S. trade deficit had narrowed in December, pointed to improving global demand. The U.S. technology sector rose, boosted by gains in LinkedIn Corp and AOL Inc following their quarterly results, and in turn, lifting the Nasdaq.

Following are the notable movers at mid-day on Friday:

Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY)
shares gained 25.21% to $4.47 after the company today announced results examining percent overall tumour shrinkage data from its U.S. Phase 2 clinical trial in patients with squamous cell carcinoma of the lung or SCCLC using intravenous administration of Reolysin in combination with carboplatin and paclitaxel or REO 021. The analysis examined percent best overall tumour changes between pre-treatment and up to six treatment cycles. Of 20 evaluable patients, 19 (95%) exhibited overall tumour shrinkage, (mean (20 patients): 33.7% shrinkage).

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)
stock increased 4.82% to $25.03 after the company yesterday reported fourth-quarter net loss of $62.2 million or $1.20 per share, wider than $14.3 million or $0.33 per share last year. Net revenues from research collaborators dropped to $8.5 million from $20.5 million last year. Analysts on consensus estimated a loss of $1.43 per share on revenues of $15.82 million for the quarter.

3SBio Inc. (ADR) (NASDAQ:SSRX) stock gained 5.87% to $14.60 after the company today agreed to be taken private for about $340 million by a group led by its chief executive Jing Lou and Chinese investment firm CITIC Capital, the latest in a growing list of Chinese companies going private to escape U.S. regulatory scrutiny. For drug makers such as 3SBio, which has a prominent presence in the oncology space, pricing pressures have compounded the problem. China cut the maximum retail price on 95 cancer, immunology and blood-related drugs by about 17 percent, effective October 8.

Hansen Medical, Inc. (NASDAQ:HNSN) shares dropped 4.49% to $2.34 in the early hour. The company, on Jan. 23, announced that its Magellan Robotic System was utilized in two successful live endovascular aortic aneurysm repair (EVAR) cases broadcast at the 25th Annual International Symposium on Endovascular Therapy (ISET), on January 22nd at the Fontainebleau Miami Beach Hotel in Miami, FL.

Sirona Dental Systems, Inc. (NASDAQ:SIRO)
shares jumped 5.59% to $73.36 in the morning hour after the company today posted net income of $38.30 million, essentially flat with $38.27 million a year back. On a per share basis, the company's earnings rose slightly to $0.68 from $0.67 last year. Adjusted earnings per share stood at $0.94 for the quarter. Analysts, on average, estimated profit per share of $0.84 for the period. Revenue for the period was at $272.4 million, up from last year's $258.11 million and consensus estimate of $266.64 million.



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