Healthcare Review: Novavax, Idenix Pharmaceuticals, AtriCure Inc, MannKind Corporation, Halozyme Therapeutics Print E-mail
By Staff and Wire Reports   
Monday, 01 April 2013 14:04
U.S. stocks declined on Monday after weaker-than-expected U.S. manufacturing data gave investors reason to book profits after both the Dow and S&P 500 set record closing highs in the prior session. The Institute for Supply Management's March manufacturing reading of 51.3 continued to show expansion, but activity slowed from the 54.2 reading in February. A separate report showed construction spending rose more than expected in February, gaining 1.2 percent, compared with forecasts of a 1 percent rise.

Following are notable movers at mid day:

Novavax, Inc. (NASDAQ:NVAX) shares increased 3.59% to $2.37. The company, on Mar. 18, reported that David C. Flyer, Ph.D., Director of Preclinical Development at Novavax, presented recent preclinical findings from the company's respiratory syncytial virus (RSV) vaccine development program at the XV International Symposium on Respiratory Viral Infections in Rotterdam, the Netherlands. He reported that in preclinical studies, Novavax' RSV vaccine candidate induced anti-RSV antibodies capable of neutralizing RSV in vitro and significantly reduced infectious RSV in a cotton rat challenge model.

Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX) shares declined 6.21% to $3.32. The company, on Mar. 22, announced that the United States Patent and Trademark Office Patent Trial and Appeal Board (USPTO) issued a decision in the first phase of the ongoing interference concerning one of the Company's patent applications (U.S. Patent Application 12/131,868) and an issued patent ( U.S. Patent 7,429,572) owned by Gilead Pharmasset LLC ("Gilead") that covers certain 2'-methyl- 2'-fluoro nucleoside compounds useful in the treatment of the hepatitis C virus.

AtriCure Inc. (NASDAQ:ATRC) shares gained 3.28% to $8.18 in the morning hour. The company, on Mar. 11, announced that Robert "Bob" S. White has been appointed to the Company's Board of Directors, effective immediately. Mr. White is a veteran in the medical technology industry with over 25 years of experience in commercial expansion, operations and sales. He is currently President and CEO of TYRX, a privately-held company, which commercializes innovative, implantable combination drug and device products focused on infection control, including the AIGISRx® Antibacterial Envelope, designed to reduce surgical site infections associated with Cardiac Implantable Electronic Devices (CIEDs).

MannKind Corporation (NASDAQ:MNKD) shares climbed 4.72% to $3.55. Bank of America analyst Steve Byrne reiterated a Buy rating on MannKind on Mar. 27 and raised the price target from $3.00 to $5.00. Byrne noted that they commissioned a survey of 75 primary care physicians (PCPs) to assess the market opportunity for MNKD's inhaled insulin candidate Afrezza in both type 1 and type 2 diabetes patients. Results indicated meaningful use within a year of approval.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares fell 5.29% to $5.46. Baxter International Inc. (NYSE:BAX) and Halozyme on Mar. 22 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.




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