|Healthcare Review: Insulet Corporation, Immunomedics, Ariad Pharmaceuticals, Hologic, Santarus|
|By Staff and Wire Reports|
|Tuesday, 07 May 2013 13:12|
U.S. stocks edged up on Monday, boosted by the tech sector, as Wall Street extended a rally that pushed the Dow and S&P 500 to record highs last week on improving earnings and reassuring signs about the economy. Although weak economic data from the euro zone and China has caused concerns over the global growth outlook, Friday's stronger-than-expected U.S. payrolls report fueled the gains that took the indexes to record levels.
Following are notable movers at mid day on Tuesday:
Insulet Corporation (NASDAQ:PODD) stock climbed 12.18% to $27.89. The company on May 6 announced financial results for the first quarter ended March 31, 2013. First quarter 2013 revenue increased 20% to $57.4 million, compared to $47.8 million in the first quarter of 2012. Net loss for the first quarter of 2013 was $10.7 million, or $0.20 per share, compared to a net loss of $14.8 million, or $0.31 per share, for the first quarter of 2012.
Immunomedics, Inc. (NASDAQ:IMMU) shares climbed 0.62% to $2.43 in the early hour. The company announced that it will host a conference call and live audio webcast on Thursday, May 9, 2013 at 10:00 a.m. Eastern Time to discuss financial results for the third quarter of fiscal year 2013, and review key clinical developments and future planned activities.
Additionally, the company on May 7 announced that it has received notice that its patent application for "Delivery system for cytotoxic drugs by bispecific antibody pretargeting," will issue as US patent No. 8,435,539. This patent relates to compositions for pretargeting delivery of therapeutic agents for use with bispecific antibodies generated by the Company's proprietary DOCK-AND-LOCK™ (DNL™) protein conjugation technology.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) shares gained 3.17% to $17.90. The company on May 7 reported financial results for the first quarter, including revenue from its first cancer medicine, Iclusig(R) (ponatinib), which was approved last December by the U.S. Food & Drug Administration. Net loss for the quarter ended March 31, 2013 was $64.7 million, or $0.36 per share, compared to net loss of $55.9 million, or $0.35 per share, for the same period in 2012. Net sales of Iclusig were $6.4 million for the quarter ended March 31, 2013.
Hologic, Inc. (NASDAQ:HOLX) shares decreased 4.02% to $19.82. The company on May 6 said its fiscal second-quarter earnings loss widened amid acquisition-related charges and other items as the health-care products company posted strong revenue growth.
For the quarter ended March 30, the company reported a loss of $51.1 million, or 19 cents a share, compared with a year earlier loss of $40.3 million, or 15 cents a share. Adjusted earnings were up at 35 cents from 33 cents. Revenue climbed 30%, to $612.7 million. The company in February projected earnings of 33 cents to 34 cents on revenue of $635 million to $640 million.
Santarus, Inc. (NASDAQ:SNTS) stock increased 9.54% to $20.67. The company, on May 6, reported financial and operating results for the quarter ended March 31, 2013. Net income for the first quarter of 2013 was $18.7 million, diluted EPS was $0.25, non-GAAP adjusted earnings were $23.9 million and diluted non-GAAP adjusted EPS were $0.32. In the first quarter of 2012 the company reported net income of $0.6 million, diluted EPS of $0.01, non-GAAP adjusted earnings of $7.8 million and diluted non-GAAP adjusted EPS of $0.12.