Healthcare Review: Savient Pharmaceuticals, Hemispherx BioPharma, ACADIA Pharmaceuticals, Novavax, Affymax Print E-mail
By Staff and Wire Reports   
Thursday, 06 June 2013 13:24
U.S. stock fell for a third straight day on Thursday, with the Dow dropping more than 100 points and the S&P 500 slipping below its 50-day moving average as investors turned cautious on the day before the monthly payrolls report. The U.S. Labor Department's non-farm payrolls report on Friday will not only give insight into the strength of the economic recovery, but it could also offer a clue into how long the Federal Reserve will keep its own stimulus policy intact. Following are notable movers at mid day on Thursday:-

Savient Pharmaceuticals, Inc. (NASDAQ:SVNT) shares decreased 9.48% and closed at $0.760. The company , on May 15, reported financial results for the three months ended March 31, 2013. Net sales of KRYSTEXXA(®) (pegloticase) were $4.4 million for the first quarter of 2013, a 6% decrease from the fourth quarter of 2012 and a 43% increase over the first quarter of 2012. For the three-month period ended March 31, 2013, the Company had a net loss of $24.4 million or $0.34 per share, on total revenues of $4.7 million, compared with a net loss of $34.2 million or $0.49 per share, on total revenues of $3.5 million during the same period in 2012.

Hemispherx BioPharma, Inc. (NYSEAMEX:HEB) shares dropped 11.31% to $0.245. The company, on May 8, announced its financial results for the three months ended March 31, 2013. The net loss (including non-cash effects) was approximately $3,611,000 or $(0.02) per share as compared to a net loss of $2,308,000 or ($0.02) per share for the same three month period in 2012. Cash, cash equivalents and marketable securities were approximately $37,835,000 at March 31, 2013 as compared to $43,953,000 as of December 31, 2012.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares climbed 5.10% to $15.49. The company, on June 3, announced that Allergan, Inc. (NYSE: AGN) has advanced an additional product candidate as a potential new treatment for glaucoma. The novel small molecule resulted from joint research conducted by the companies under their recently concluded research collaboration focused on new therapies for glaucoma and related ophthalmic conditions.

Novavax, Inc. (NASDAQ:NVAX) shares increased 3.14% to $1.97. The company, on June 6, announced that it had successfully produced a vaccine candidate designed to provide protection against the recently emerging Middle East Respiratory Syndrome Coronavirus (MERS-CoV). The vaccine candidate, which was made using Novavax' recombinant nanoparticle vaccine technology, is based on the major surface spike (S) protein. The Company believes that its MERS-CoV vaccine candidate may provide a path forward for a vaccine for this emerging threat.

Affymax, Inc. (NASDAQ:AFFY) shares is trading at $1.20. The company is falling ahead of the pending delisting from the NASDAQ tomorrow, June 6. The company plans to list on the OTCBB. Nasdaq notified the Company that it is operating as a "public shell" and has determined that, following the Company’s announcement regarding the voluntary recall of OMONTYS, the Company no longer has an operating business.




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