Healthcare Review: Navidea Biopharmaceuticals, Celgene Corporation, Arena Pharmaceuticals, Celsion Corporation, St. Jude Medical Print E-mail
By Staff and Wire Reports   
Wednesday, 12 June 2013 12:39
U.S. stocks retreated for a second day as investors weighed prospects for central-bank stimulus and economic growth, while the yen extended its strongest two-day rally versus the dollar in more than three years. More than $2.5 trillion has been erased from the value of global equities since Federal Reserve Chairman Ben S. Bernanke said May 22 that the Fed could scale back stimulus efforts if the employment outlook shows “sustainable improvement.” The yen has appreciated more than 7 percent after sliding to a 4 ½- year low on May 22. A report today showed euro-area industrial output unexpectedly increased in April. Following are notable movers at mid day on Wednesday:-

Navidea Biopharmaceuticals Inc. (NYSEAMEX:NAVB) shares jumped 2.74% to $2.43. The company, on June 12, announced results from a meta-analysis study of Lymphoseek® (technetium Tc 99m tilmanocept) Injection, a novel, receptor-targeted, small-molecule radiopharmaceutical. The study compared Lymphoseek performance data from a pre-planned interim analysis of its Phase 3 clinical trial (NEO3-06) versus published data from the ACOSOG Z-0360 trial which was done using radiolabeled sulfur colloid.

Results in this study demonstrated that Lymphoseek identified sentinel lymph nodes (SLNs) in subjects with squamous cell carcinoma of the head or neck (SCC) with a False Negative Rate (FNR) of 2.56%, whereas sulfur colloid demonstrated an FNR of 10% (p=0.0006). Lymphoseek identified SLNs with an overall accuracy of 99%, versus an overall accuracy of sulfur colloid of 97%. 

Celgene Corporation (NASDAQ:CELG) shares gained 2.43% to $121.62. The company’s international unit on June 12 said the biopharmaceutical company's investigational treatment for psoriatic arthritis significantly improved symptoms in a long-term Phase 3 study. The company said 52-week data showed its oral Apremilast treatments improved efficacy over time at 20-milligram and 30-milligram dosages. The latest data showed meaningful improvement from week 24 through week 52.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stock jumped 0.34% to $8.80. The company on June 7 reported on the launch of BELVIQ (pronounced BEL-VEEK) in the United States. BELVIQ will be available to patients by prescription in US pharmacies beginning June 11. Eisai Inc. is responsible for the marketing and distribution of BELVIQ under its agreement with Arena Pharmaceuticals GmbH, a wholly owned subsidiary of Arena Pharmaceuticals, Inc.

Celsion Corporation (NASDAQ:CLSN) shares declined 14.40% to $1.38. The company, on May 31, announced that it has received commitments from institutional investors to purchase an aggregate of approximately $9.83 million of the Company's common stock in an at-the-market registered direct offering led by a dedicated health care fund.

The Company entered into definitive purchase agreements with these investors pursuant to which the Company agreed to sell an aggregate of 6,264,492 shares of its common stock at a per share price of $1.57.  The shares were priced at-the-market with no discount to the previous day's closing bid price.


St. Jude Medical, Inc. (NYSE:STJ) shares jumped 3.06% to $45.17. The company, on June 11, announced U.S. Food and Drug Administration (FDA) approval of its next-generation Ellipse™ and SJM Assura™ portfolio of implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds). The new devices are designed to lower the risk of lead abrasion and to ensure high-voltage therapy delivery.






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