Healthcare Review: Halozyme Therapeutics, Arena Pharmaceuticals, ACADIA Pharmaceuticals, Chindex International Print E-mail
By Staff and Wire Reports   
Friday, 22 March 2013 13:23

U.S. stocks bounced back on Friday on hopes a deal to bail out Cyprus was near completion. A nearly 12 percent jump in Nike shares a day after the maker of athletic shoes and apparel posted results lifted the consumer discretionary sector of the S&P 500, which led the benchmark's gains. The sector's index was up 1.1 percent. Cyprus was close to a deal to raise billions of euros and unlock a bailout from the European Union that could avert a financial meltdown and its exit from the euro, its ruling party said.

Following are notable movers at mid day on Friday:

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares climbed 15.37% to $6.08 after Baxter International Inc. (NYSE:BAX) and Halozyme today announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (EMA CHMP) has granted a Positive Opinion to Baxter for the use of HyQvia (solution for subcutaneous use) as replacement therapy for adult patients with primary and secondary immunodeficiencies. The product is a combination of human normal immunoglobulin (IGSC, 10%) and recombinant human hyaluronidase, which facilitates the dispersion and absorption of the IGSC.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares gained 5.32% to $8.31. The company, on Mar. 4, said it lost $21.3 million in the fourth quarter, compared to $23.7 million of 2011. Total interest and other expense in the fourth quarter of 2012 decreased to $1.0 million, compared to $5.4 million in the fourth quarter of 2011. Total interest and other expense in the full year ended December 31, 2012, increased to $28.4 million, compared to $26.4 million in full year ended December 31, 2011.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares decreased 7.40% and closed at $7.64. Analysts at Jefferies Group initiated coverage on shares of ACAD in a research report issued to clients and investors on Mar. 18. The firm set a “buy” rating on the stock.

Additionally, the company, on Mar. 20, announced that Jeffrey Cummings, M.D., Sc.D., Director of Cleveland Clinic Lou Ruvo Center for Brain Health, presented detailed results today from ACADIA's pivotal Phase III -020 Study with pimavanserin in patients with Parkinson's disease psychosis at the Emerging Science session of the 65th American Academy of Neurology (AAN) Annual Meeting. The analysis of the full data set from the Phase III -020 Study showed robust and consistent efficacy of pimavanserin across a wide array of study measures and confirmed the positive top-line results previously reported.

Chindex International, Inc. (NASDAQ:CHDX) shares climbed 3.75% to $13.83. The company, on Mar. 13, announced financial results for the fourth quarter and full year of 2012 ended December 31, 2012. Fourth quarter 2012 revenue from healthcare services increased 36% to $43.5 million from $31.9 million in the prior year period. Net income for the quarter ended December 31, 2012 was $3.5 million, or $0.20 per diluted share, compared to net income of $1.2 million, or $0.07 per diluted share, in the prior year period. For the fourth quarter of 2012, weighted average diluted shares outstanding were 17.7 million.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) shares climbed 3.14% to $53.86. VRTX‘s stock had its “sell” rating restated by equities researchers at TheStreet in a report issued on Mar. 4.

Additionally, the company, on Mar. 4, announced that treatment with VX-787 in a Phase 2 influenza challenge study resulted in statistically significant improvements in viral and clinical measurements of infection. VX-787 is an investigational new class of medicine for the treatment of influenza and is designed to directly inhibit replication of the virus.




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