Healthcare Review: Amyris Inc, Halozyme Therapeutics, Response Genetics, Arena Pharmaceuticals, Cyclacel Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Thursday, 16 May 2013 14:42
U.S. stocks advanced modestly on Thursday as Cisco led gains in blue chips and technology stocks following strong earnings, offsetting concerns about softer-than-expected data on the manufacturing sector and labor market. Wall Street started off Thursday's session slightly weaker after data showed the biggest jump in weekly initial jobless claims since November. Other data showed housing starts slid in April, falling sharply below analysts' expectations, while business activity in the U.S. mid-Atlantic region contracted in May, according to data from the Federal Reserve Bank of Philadelphia.

Following are notable movers at mid day on Thursday:-

Amyris Inc. (NASDAQ:AMRS) stock dropped 5.71% to $3.02. The company on April 30 announced financial results for the first quarter ended March 31, 2013. Aggregate revenues for the quarter ended March 31, 2013 were $7.9 million compared to aggregate revenues of $29.5 million in the first quarter of 2012. GAAP net loss attributable to common stockholders for the quarter was $32.6 million ($0.44 per share) compared to a loss of $94.5 million ($1.88 per share) in the comparable quarter of 2012.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares jumped 15.88% to $7.81. The company, on May 8, reported financial results for the quarter ended March 31, 2013. Revenues for the first quarter of 2013 were $11.8 million, compared to $7.4 million for the first quarter of 2012. The net loss for the first quarter of 2013 was $19.3 million, or $0.17 per share, compared with a net loss for the first quarter of 2012 of $15.1 million, or $0.14 per share.

Response Genetics, Inc. (NASDAQ:RGDX) shares jumped 14.75% to $1.55 in the morning hour. The company on May 16 announced that it has entered into an agreement with health insurer Blue Shield of California to join all of Blue Shield of California's provider networks.

Additionally, the company on May 14 announced its consolidated financial results and business progress for the first quarter ended March 31, 2013. Total revenue for the first quarter ended March 31, 2013 was $5.6 million compared to $4.0 million for the quarter ended March 31, 2012 and $5.5 million for the quarter ended December 31, 2012.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stock fell 1.61% to $7.92. Investment analysts at Credit Suisse cut their target price on shares of Arena Pharmaceuticals from $6.00 to $5.00 in a note issued to investors on May 6.

Additionally, the company issued its quarterly earnings data on April 30. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by $0.02. The company had revenue of $2.37 million for the quarter, compared to the consensus estimate of $50.36 million.

Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC) stock dropped 13.54% to $3. The company on May 16 announced the pricing of the underwritten offering of 6,666,667 shares of its common stock at a price to the public of $3.00 per share. Cyclacel has granted the underwriters a 30-day option to purchase up to an aggregate of 166,667 shares of Common Stock to cover over-allotments, if any. All of the shares of common stock in this offering are to be sold by Cyclacel. The common stock offering is being conducted as a public offering by means of a prospectus supplement.

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