|Healthcare Review: Affymax, Discovery Laboratories, Oncolytics Biotech, Hospira, Incyte Corporation|
|By Staff and Wire Reports|
|Thursday, 14 February 2013 13:49|
Stocks fell earlier after a report the euro zone's gross domestic product contracted by the steepest amount since the first quarter of 2009. In addition, Japan's GDP shrank 0.1 percent in the fourth quarter, crushing expectations of a modest return to growth.
Following are notable movers at mid day on Thursday:
Affymax, Inc. (NASDAQ:AFFY) shares fell 5.50% to $15.97. The company announced that John Orwin, the company's chief executive officer, was scheduled to present at the 15th Annual BIO CEO & Investor Conference on Tuesday, February 12, 2013 at 9:30 a.m. Eastern Time (6:30 a.m. Pacific Time) in New York City.
Additionally, the company, on Feb. 1, announced the promotion of Christine Conroy, Pharm.D., to senior vice president, Regulatory Affairs and Quality Assurance, as well as Tim Varacek to vice president, Sales and Account Management. The company also announced Robert F. Venteicher, Ph.D., will retire as Affymax’s senior vice president, technical operations effective March 31, 2013.
Discovery Laboratories, Inc. (NASDAQ:DSCO) stock jumped 13.89% to $2.46. The company, on Feb. 13, announced that it has entered into a secured loan facility with Deerfield Management Company, L.P. (Deerfield) for up to $30.0 million in financing. Deerfield is a leading healthcare investment firm with more than $3.5 billion of assets currently under management.
Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) shares climbed 7.28% to $4.57. The company, on Feb. 8, 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).
Hospira, Inc. (NYSE:HSP) shares decreased 7.60% to $30.18. The company, on Feb. 13, announced that for fiscal 2013, it expects net sales growth to be in a range of 1% to 3% on both a constant-currency and reported basis and adjusted earnings per share (EPS) to be in a range of $2.05 to $2.20, representing growth of 2% to 9%. The Company reported revenue of $4.092 billion for fiscal 2012. Analysts on an average are expecting the Company to report revenue of $4.204 billion and EPS of $2.31 for fiscal 2013.
Additionally, the company announced that the company will present at Raymond James 34th Institutional Investors ConferenceMarch 5, 2013 (Tuesday) - Orlando, Fla. 10:25 a.m. Eastern time. The presentations will be available to all interested parties through a live audiocast accessible via the investor relations section of Hospira's website.
Incyte Corporation (NASDAQ:INCY) stock gained 7.02% to $19.96 after the company reported fourth-quarter and full-year 2012 financial results, including revenue from Jakafi® (ruxolitinib), which is approved by the U.S. Food & Drug Administration (FDA) for the treatment of patients with intermediate or high-risk myelofibrosis (MF). The Company also provided 2013 financial guidance and updated information about key clinical programs, including key Phase III data for Jakafi that was presented at the 2012 American Society of Hematology (ASH) Annual Meeting.
Total revenues for the quarter ended December 31, 2012, were $113.8 million as compared to $28.9 million for the same period in 2011. Net income for the quarter ended December 31, 2012, was $18.8 million, or $0.14 per basic and diluted share, as compared to a net loss of $55.1 million, or $0.44 per basic and diluted share, for the same period in 2011.