Healthcare Review: Star Scientific, Celsion Corporation, Neostem Inc, Organovo Holdings, Arena Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Tuesday, 23 July 2013 13:38
U.S. stocks fluctuated, after the Standard & Poor’s 500 Index extended a record yesterday, as investors weighed corporate earnings amid speculation on when the Federal Reserve may scale back its asset purchases. Investors have been weighing data to determine the timing and pace of any stimulus reduction by the Fed. Half of the economists in a July 18-22 Bloomberg survey expect the central bank to trim at its September meeting the pace of its monthly bond buying to $65 billion from the current $85 billion. That’s up from 44 percent in last month’s poll.

Star Scientific, Inc. (NASDAQ:STSI) shares dropped 5.39% to $1.93 on no official news. The company on May 10 reported net sales of $2.5 million for the quarter ended March 31, 2013, compared with $1.1 million for the same period in 2012. The net loss for first-quarter 2013 was $(8.2) million compared with a $(5.2) million net loss for the same period in 2012.

During the first quarter of 2013, the company expanded the Anatabloc® cosmetic products line with the introduction of Anatabloc® Revitalizing Facial Serum.  Both Anatabloc® Facial Creme and Anatabloc Facial Serum are available on the Company's product website, as well as on GNC's website.

Celsion Corporation (NASDAQ:CLSN) shares dropped 5.79% to $1.22. CLSN and Zhejiang Hisun Pharmaceutical Company Ltd. (SSE Code: 600267), a leading Chinese pharmaceutical company, on July 19 announced that they have entered into a Memorandum of Understanding to pursue ongoing collaborations for the continued clinical development of ThermoDox® as well as the technology transfer relating to the commercial manufacture of ThermoDox® for the greater China territory.

Neostem Inc. (NYSEAMEX:NBS) shares increased 17.54% to $8.77. The company on July 23 announced that it has met the listing criteria for the NASDAQ Capital Market and will move its listing from NYSE MKT to the NASDAQ Capital Market effective with the start of trading on August 5, 2013. NeoStem will continue to trade under its existing ticker symbol "NBS". NeoStem's common stock will trade on the NYSE MKT until the market close on August 2, 2013.

Organovo Holdings Inc. (NYSEMKT:ONVO) stock jumped 4.90% to $6.64. The company on July 18 announced that Richard A. Heyman, Ph.D. has been nominated to be elected to the Company's Board of Directors at the Annual Meeting of Stockholders scheduled to be held on August 21, 2013.

Dr. Heyman is an experienced life science executive who is currently chief executive officer of Aragon Pharmaceuticals, which he co-founded in 2009. In June 2013, Aragon announced a definitive agreement with Johnson and Johnson whereby Aragon will be acquired for up to $1 billion dollars in total transaction value.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stock gained 0.15% to $6.88. The company on June 28 announced that it has applied for Canadian regulatory approval for its anti-obesity drug, Belviq. The application was submitted by Arena’s partner in marketing and commercialization, Japanese drug maker Eisai Inc., and its Canadian subsidiary Eisai Ltd., triggering a $500,000 milestone payment to Arena.




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