Healthcare Review: Affymax, Horizon Pharma, Oculus Innovative Sciences, Celldex Therapeutics, EDAP TMS Print
By Staff and Wire Reports   
Thursday, 07 March 2013 15:04
The Dow pushed further into unchartered territory Thursday, having surpassed its previous all-time high two days ago. The catalyst was a government report on employment that gave succor to stock market bulls. Stocks started higher after the Labor Department reported that the number of Americans seeking unemployment aid fell by 7,000 last week, driving the four-week average to its lowest in five years. The drop is a positive sign ahead of Friday's employment report.  Following are notable movers at mid day on Thursday:-

Shares of Affymax, Inc.(NASDAQ:AFFY) ramp higher by 49% with no news of note out on the drug developer. Aside from a couple hiccups, the stock has been essentially dead money over the past nine sessions, following its 85% plunge last month on an FDA recall of its anemia treatment Omontys.

Horizon Pharma Inc(NASDAQ:HZNP) receives final approval from the U.K.'s Medicines & Healthcare products Regulatory Agency for its Duexis drug for the symptomatic treatment of osteoarthritis, rheumatoid arthritis and ankylosing spondylitis in certain patients. Horizon is looking to license the rights to Duexis in Europe to one or more commercial partners, although it reckons the U.S. will be the better bet

Shares of Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) get hammered after pricing a 7.5M share offering at $0.40, a 25% discount to yesterday's closing price. The company announced its intention to offer stock after yesterday's close, but didn't detail the number of shares or the price. The commercial healthcare company currently has around 37.4M shares outstanding.

Celldex Therapeutics, Inc. (NASDAQ:CLDX) crumbles 5% after its Q4 EPS miss and earnings call (slides), which one Yahoo poster describes as disappointing, as "execs seemed confused, analysts unhappy." Net loss widens to $16.8M from $12.7M, primarily due to increased trial costs. As of Feb 28, Celldex had liquidity of $189M following a $114.1M fundraising.

The FDA accepts EDAP TMS S.A. (ADR)(NASDAQ:EDAP) approval application for its ultrasound device for treating low-risk, localized prostate cancer. The next step for the product, which is called the Ablatherm Integrated Imaging HIFU (High Intensity Focused Ultrasound), is the filing review. Both assessments look at the completeness of the application and not the clinical outcomes of the study.

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