Healthcare Review: Opexa Therapeutics, ZIOPHARM Oncology, Arena Pharmaceuticals, Progenics Pharmaceuticals, Amarin Corporation Print E-mail
By Staff and Wire Reports   
Tuesday, 26 March 2013 14:19
Stocks gained on Tuesday, putting the S&P 500 within striking distance of its all-time high, as strong data on home prices showed an economy that was improving, although slowly. Single-family home prices rose in January at the fastest pace in more than six years. A measure of manufacturing also rose. The Commerce Department reported demand for long-lasting manufactured goods, also known as durable goods orders, shot up 5.7 percent in February. Following are notable movers at mid day on Tuesday:-

Opexa Therapeutics Inc. (NASDAQ:OPXA) shares gained 27.01% to $2.70 on no official news.  The company, on Feb. 27, said it received written communication from Nasdaq giving the company until May to become compliant with listing regulations. The company received notification from Nasdaq Listing Qualifications Staff in November that its stockholders equity of $2.3 million reported for the period ended Sept. 30 was below the required $2.5 million. Nasdaq gave Opexa until Jan. 10 to meet the equity requirement, but the company filed for an extension.

ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) shares plunged 61.60% to $1.97 after the company announced today that its Phase 3 trial of palifosfamide (ZIO-201) for the treatment of metastatic soft tissue sarcoma in the first-line setting (PICASSO 3) did not meet its primary endpoint of progression-free survival (PFS).

The study's independent data monitoring committee (IDMC) has recommended that patients be followed for overall survival (OS), the study's secondary endpoint, however the Company does not expect to continue follow up for OS. Palifosfamide was well tolerated, with a safety profile in combination with doxorubicin observed in the study comparable with other palifosfamide clinical trials in soft tissue sarcoma.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares gained 0.35% to $8.56. 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.

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX)  shares increased 15.76% to $5.95. The company on Mar. 15 announced its earnings results. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.30. The company posted revenue of $8.87 million for the quarter, compared to the consensus estimate of $1.16 million.

Amarin Corporation plc (ADR) (NASDAQ:AMRN) stock dropped 5.95% to $6.90. The company, on Mar. 7, announced that the United States Patent and Trademark Office (USPTO) has published notification of a Notice of Allowance for Amarin's U.S. Patent Application Serial Number 13/614,111titled "Stable Pharmaceutical Compositions and Methods of Using the Same."

Additionally, the company, on Feb. 28, reported a fourth quarter GAAP net loss of $10.6 million, or basic and diluted loss per share of $0.07. Fourth quarter Non-GAAP adjusted net loss was $42.0 million, or non-GAAP adjusted basic and diluted loss per share of $0.28.

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