Healthcare Review: ISIS Pharmaceuticals, VIVUS, CombiMatrix Corporation, Gilead Sciences, Cytokinetics Print E-mail
By Staff and Wire Reports   
Tuesday, 25 June 2013 13:14
U.S. stocks rallied Tuesday as central banks helped inject a sense of calm into the markets, which helped investors digest a slight rise in Treasury yields on the back of better-than-expected economic data. Stocks have been retreating from recent highs lately, and Treasury yields have soared, amid growing fears the Federal Reserve could begin scaling back its easy-money policies as early as this year. On Tuesday, the yield on the 10-year Treasury note rose to 2.589%, after settling at 2.546% the previous session, after a string of data beat analyst forecasts.

Following are notable movers at mid day on Tuesday:

ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) shares dropped 4.26% to $27.24. The company on June 23 announced that data from the Phase 2 study of ISIS-APOCIIIRx in patients with high triglycerides and type 2 diabetes were presented today at the American Diabetes Association Scientific Sessions in Chicago. In this study, patients treated with ISIS-APOCIIIRx experienced an 88 percent reduction in apolipoprotein C-III (apoC-III), a 72 percent reduction in triglyceride levels, a 40 percent increase in high-density lipoprotein cholesterol (HDL-C), the 'good' cholesterol, and improvements in other atherogenic lipid parameters.

VIVUS, Inc. (NASDAQ:VVUS) shares declined 2.30% to $12.72. The company on June 25 announced that it believes First Manhattan Co.'s ("FMC") recent letter to stockholders contains several highly questionable claims and would like to set the record straight.

Additionally, the company on June 19 announced positive results from a multicenter, placebo-controlled study, TA-501, designed to assess the efficacy of STENDRAâ„¢ (avanafil) in approximately 15 minutes. In the study, STENDRA patients achieved statistically significant improvement over placebo, in the mean proportion of attempts that resulted in erections sufficient for successful intercourse, as early as 10 minutes for the 200 mg dose and 12 minutes for the 100 mg dose after being taken.

CombiMatrix Corporation (NASDAQ:CBMX) shares soared 56.87% to $4.22. The company, on June 25, announced that its chromosomal microarray analysis (CMA) test for miscarriage analysis has received conditional approval from the New York State's Department of Health for testing on patient samples from the state. With nearly 20 million people, New York is the third most populated state in the nation, behind only California and Texas.

Gilead Sciences, Inc. (NASDAQ:GILD) shares gained 2.09% to $49.95. The company, on June 17, announced interim results from a single-arm, open-label Phase 2 study (Study 101-09) evaluating idelalisib (formerly GS-1101), an investigational, targeted, oral inhibitor of PI3K delta, for the treatment of patients with indolent non-Hodgkin's lymphoma (iNHL) that is refractory (non-responsive) to rituximab and to alkylating-agent-containing chemotherapy. Previously, this has been a largely unstudied population for which there is significant unmet medical need for effective therapy. 

Cytokinetics, Inc. (NASDAQ:CYTK) shares decreased 2.20% to $12.03. The company on June 24 announced that it has filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to effect a one-for-six reverse stock split of its common stock, effective as of 5:00 p.m. Eastern time today.  A series of alternate amendments to effect a reverse stock split were approved by the Company`s stockholders at its Annual Meeting of Stockholders held on May 22, 2013, and the specific one-for-six ratio was subsequently approved by the Company`s Board of Directors.

Additionally, Cytokinetics, and Astellas Pharma Inc. (Tokyo Stock Exchange: 4503, "Astellas") announced on June 25 a collaboration focused on the research, development and commercialization of skeletal muscle activators.  The primary objective of the collaboration is to advance novel therapies for diseases and medical conditions associated with muscle weakness.  The parties will jointly conduct research in the area of skeletal muscle activation.




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