Healthcare Review: Medivation, Atossa Genetics Inc, MannKind Corporation, Amgen, Amicus Therapeutics Print E-mail
By Mary Davila   
Monday, 17 June 2013 12:49

U.S. stocks rebounded on Monday, climbing 1 percent and recovering last week's losses, as investors speculated the Federal Reserve will reaffirm its policies of supporting the economic recovery later this week.

Technology and energy shares led gains on the S&P 500, pointing to bets on a stronger economy. The S&P tech sector index was up 1.6 percent. Data showing U.S. homebuilder sentiment jumped in June to the highest in seven years since the start of the housing crisis helped support stocks. The PHLX housing sector index rose 2.6 percent.

Following are notable movers at mid day on Monday:

Medivation, Inc. (NASDAQ:MDVN) shares dropped 7.59% to $46.99. Astellas Pharma Inc. (TSE: 4503) and Medivation, Inc. on June 3 announced that after a priority review, Health Canada has approved XTANDI® (enzalutamide) capsules for the treatment of patients with metastatic castration-resistant prostate cancer in the setting of medical or surgical castration who have received docetaxel therapy.

Atossa Genetics Inc. (NASDAQ:ATOS) shares gained 1.24% to $4.90 in the morning hour. The company on June 17 has entered into a contractual agreement with HealthSmart, a Preferred Provider Organization (PPO) network serving clients in all 50 states. The agreement with HealthSmart affords preferred providers and their patients with greater access to Atossa's ForeCYTE Breast Health Test by ensuring timely reimbursement for the laboratory costs associated with the test.

MannKind Corporation (NASDAQ:MNKD) shares increased 1.56% to $7.83. The company on June 17 announced that all follow-up visits have been completed for the patients enrolled in Study 175, a Phase 3 clinical study of AFREZZA® (insulin human [rDNA origin]) inhalation powder, an investigational, ultra rapid-acting mealtime insulin therapy, administered using MannKind's next-generation inhaler. MannKind expects to release data from this study later this summer.

Amgen, Inc. (NASDAQ:AMGN) shares gained 2.47% to $99.83. The company on June 13 said U.S. Food and Drug Administration approved Xgeva for the treatment of giant-cell tumor of the bone, the first treatment the U.S. regulator has approved for the rare disease.

The world's largest independent biotechnology company is in a transitional period as it looks to expand further into international markets, gain approvals for new experimental drugs and increase sales for its arthritis and osteoporosis drugs. Many of the company's core products face the potential of new competition as they lose patent protection in the coming years.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares dropped 21.03% to $2.52. The company, on June 17, announced that John F. Crowley, Chairman and Chief Executive Officer, will host a conference call at 8:00 a.m. ET this morning. Mr. Crowley will highlight the regulatory strategy for migalastat HCl monotherapy for Fabry disease following a recent Type C meeting with the U.S. Food and Drug Administration (FDA).

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