Healthcare Review: Arca Biopharma Inc, Catalyst Pharmaceutical, Opexa Therapeutics, Compugen Ltd, ACADIA Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Monday, 22 April 2013 14:29
Stocks mostly rose on Monday, reversing earlier declines on strength in technology shares, while the energy and material sectors advanced on encouraging results. While most S&P 500 companies that have reported earnings so far have topped analysts' expectations, a number of high-profile disappointments have raised questions about whether the market's steep run so far this year may be out of gas. Following are notable movers at mid day on Monday:-

Arca Biopharma Inc. (NASDAQ:ABIO) shares soared 46.70% to $2.89. The company, on April 22, announced that it has entered into an agreement with Medtronic, Inc. (NYSE:MDT), a leader in medical technologies to improve the treatment of chronic diseases, including cardiac rhythm disorders, to collaborate on ARCA’s proposed clinical trial, known as GENETIC-AF, of its lead developmental drug Gencaro (bucindolol hydrochloride).

Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) shares surged 15.65% to $1.02. Research analysts at Aegis began coverage on shares of Catalyst Pharmaceutical Partners in a report released on April 18. The firm set a “buy” rating and a $2.50 price target on the stock.

Additionally, the company on April 2 reported financial results for the fourth quarter and year ended December 31, 2012. For the year ended December 31, 2012, Catalyst's net loss was $4,076,386, or $0.14 per basic and diluted share, compared to a net loss of $6,391,062, or $0.29 per basic and diluted share, in the prior year.

Opexa Therapeutics Inc. (NASDAQ:OPXA) shares increased 7.11% to $1.81. The company, on April 1, said that it has appointed Karthik Radhakrishnan as Chief Financial Officer. Radhakrishnan joins Opexa with over 10 years of healthcare capital markets experience and most recently was a Vice President at ING Investment Management in New York. He replaces David Jorden, Opexa's Acting CFO, who will continue to serve as a Director of the company.

Compugen Ltd. (USA) (NASDAQ:CGEN) stock jumped 9.30% to $5.64. The company announced that the Company will host a conference call at 10:00 AM EDT on Thursday April 25 2013 to review first quarter 2013 results. The quarterly results will be released on the Company’s website (www.cgen.com) prior to the conference call.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares climbed 10.09% to $13.31. The company, on April 11, announced that the U.S. Food and Drug Administration (FDA) has agreed that the data from the pivotal Phase III -020 study, together with supportive data from other studies with pimavanserin, are sufficient to support the filing of a New Drug Application (NDA) for the treatment of Parkinson's disease psychosis (PDP). As a result, ACADIA will no longer conduct the Phase III -021 study that was planned as a confirmatory trial and was scheduled to be initiated later this month.




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