Healthcare Review: Neuralstem, Addus Homecare, Keryx Biopharmaceuticals, Immunomedics, SIGA Technologies Print E-mail
By Staff and Wire Reports   
Tuesday, 16 July 2013 13:40
Stocks declined on the back of lackluster earnings results as investors looked ahead to Federal Reserve Chairman Ben Bernanke's congressional testimony on Wednesday. Through Monday, the S&P 500 had gained for eight-straight sessions, the longest win streak since January. And the Russell 2000 index of small-capitalization stocks had closed at seven-straight record highs, the longest stretch since October 1997. And the technology-friendly Nasdaq 100 rose for 14-straight sessions, the most since May 1990.

Neuralstem, Inc. (NYSEMKT:CUR) shares declined 9.60% to $1.60 in the morning hour. The company on June 10 reported that Eva Feldman , MD, PhD, will address the Canadian Neurological Sciences Federation Annual Congress, in Montreal , Canada , on Thursday, June 13 th at 8:30 a.m. ET as a grand plenary speaker ( Dr. Feldman will present final data from Neuralstem's Phase I trial testing NSI-566 spinal cord-derived neural stem cells in the treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease).

Addus Homecare Corporation (NASDAQ:ADUS) stock dropped 12.97% to $20.07. ADUS;s stock was downgraded by stock analysts at Robert W. Baird to a “neutral” rating in a report issued on July 16. Separately, Zacks cut shares of ADUS from an outperform rating to a neutral rating in a research report sent to investors on July 5. The firm currently has $21.50 price target on the stock.

Keryx Biopharmaceuticals (NASDAQ:KERX) shares gained 7.82% to $9.02. J.P. Morgan analyst Cory Kasimov initiated coverage on Keryx Biopharmaceuticals on June 19 with a rating of Overweight and a price target of $13.

Additionally, the company on June 3 announced the presentation of updated efficacy and safety data from the Phase 3 long-term clinical trial of Zerenex (ferric citrate), the Company's ferric iron-based phosphate binder drug candidate for the treatment of elevated serum phosphorus levels, or hyperphosphatemia, in patients with end-stage renal disease (ESRD) on dialysis.

Immunomedics, Inc. (NASDAQ:IMMU) shares jumped 6.06% to $6.65. The company on July 16 reported the issuance of U.S. Patent 8,486,395 with expiration on August 2, 2024. The new patent covers additional claims for the patent family, "Anti-CD19 Antibodies." The allowed claims protect our new, proprietary humanized hA19 antibody and cover its use for the treatment of B-cell lymphoma, chronic lymphocytic leukemia or acute lymphocytic leukemia.

SIGA Technologies, Inc. (NASDAQ:SIGA) stock gained 6.46% to $3.46. The company, on July 16, announced it has passed another significant commercial milestone with the third delivery of its proprietary smallpox antiviral drug, Arestvyr™, to the United States Government's Strategic National Stockpile (SNS). With a cumulative delivery of approximately 590,000 courses of Arestvyr to the SNS over the past five months, SIGA has met a key requirement of its contract with the Government's Biomedical Advanced Research and Development Authority (BARDA) and has qualified for a payment of approximately $79 million for the courses delivered to date.

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