Healthcare Review: STAAR Surgical Company, Keryx Biopharmaceuticals, VIVUS, Synta Pharmaceuticals, Affymetrix Print
By Staff and Wire Reports   
Tuesday, 09 April 2013 13:40
Stocks rose modestly Tuesday as traders lacked a catalyst to push the market higher following a strong start to the year. The stock market has mostly moved sideways for the past three weeks, alternating between small gains and losses, after beginning the year on a tear. Signs of slowing growth and concerns about the outlook for Europe have checked investors' confidence. Investors will be looking to see whether companies are feeling an impact from government spending cuts that kicked in recently, said Jim Russell, investment director at U.S. Bank. They will also want to know what impact, if any, there will be from the ongoing debt crisis in Europe.

Following are notable movers:

STAAR Surgical Company (NASDAQ:STAA) shares increased  13.25% to $6.24. The company, on April 8, announced that first quarter revenue is expected to be approximately $18 million.

STAAR is reporting the preliminary results due to previously scheduled meetings with investors on April 11-12 and the upcoming American Society of Cataract and Refractive Surgeons Annual Conference.  Final results for the first quarter are expected to be released on May 1, 2013.

Keryx Biopharmaceuticals (NASDAQ:KERX) shares grew 11.51% to $8.18. The company, on Marc h 11, 2013 announced its results for the fourth quarter and year ended December 31, 2012. The net loss for the 4th quarter ended December 31, 2012 was $6.6 million, or $0.09 per share versus $8.4 million for quarter 2011, representing a decrease of $1.8 million and Net loss for the year ended December 31, 2012, was $22.7 million versus $28.1 million for the year ended December 31, 2011, representing a decrease in net loss of $5.4 million. At December 31, 2012, the Company had cash, cash equivalents, interest receivable, and investment securities of $14.7 million, as compared to $39.5 million at December 31, 2011.

VIVUS, Inc. (NASDAQ:VVUS) shares climbed 4.78% to $10.96. The company, on March 26, announced that it has entered into a $110 million non-equity financing with an investment fund managed by Pharmakon Advisors. Under the terms of this financing, VIVUS will make an initial draw of $50 million and will have the option, at its discretion, to draw an additional $60 million at any time prior to December 31, 2013.

Synta Pharmaceuticals Corp. (NASDAQ:SNTA) shares gained 4.30 % to $10.42. The company, on April 5, reported  that poster presentations related to studies with ganetespib, a selective Hsp90 inhibitor in clinical development by the company, will be presented at the 2013 Annual Meeting of the American Association of Cancer Research in Washington, D.C.

Affymetrix, Inc. (NASDAQ:AFFX) shares decreased 13.41% to $4.03. The company today reported that based on preliminary financial data, the Company expects total revenue of approximately $78 million for the first quarter of 2013, including revenue of approximately $19 million from eBioscience. The Company expects to report cash-on-hand of at least $38 million as of March 31, 2013.

Additionally, Ingenuity® Systems and Affymetrix on April 8 announced that they will co-promote Ingenuity® iReport(TM) with Affymetrix expression microarray products effectively eliminating a bottleneck for researchers working with human, mouse and rat applications by coupling a fast and accurate statistical analysis and biological interpretation workflow with the gold-standard platform for gene expression studies.




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