Healthcare Review: Sequenom, AEterna Zentaris, Organovo Holdings, BioCryst Pharmaceuticals, Health Net Print E-mail
By Staff and Wire Reports   
Thursday, 25 July 2013 14:18
Sequenom, Inc. (NASDAQ:SQNM) shares plunged 30.39% to $3.26. The company on July 24 said its second-quarter loss widened as the life-sciences company logged an increase in interest expense and said reimbursement issues hurt its diagnostic revenue. The company posted a loss of $31 million, or 27 cents a share, compared with a year-earlier loss of $29.6 million, or 26 cents a share. Analysts polled by Thomson Reuters had projected a loss of 21 cents a share. Revenue soared 91% to $34.9 million, but fell short of analysts' projection of $47 million.

AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) shares declined 22.60% to $1.37 in the early hour. The company on July 25 announced that it has received commitments from institutional investors to purchase US$7.8 million of securities in a registered direct offering. Under the terms of a Securities Purchase Agreement, the Company will sell to such investors an aggregate of approximately 5.2 million common shares of its capital at a price of US$1.50 per share and issue warrants to acquire an aggregate of approximately 2.6 million common shares at an exercise price of US$1.85 per share.

Organovo Holdings Inc. (NYSEMKT:ONVO) stock dropped 7.08% to $6.04. ONVO and Methuselah Foundation, a public charity incentivizing innovation in regenerative medicine, on July 24 announced that Methuselah Foundation has initiated a campaign in which it will fund research at major research institutions using Organovo's proprietary NovoGen Bioprinting technology. The program will feature grants of research funding from the non-profit Methuselah Foundation to major academic research centers engaged in cutting edge biomedical research.

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) shares decreased 6% to $4.23. The company, on July 22, announced that the randomized, placebo-controlled, Phase 1 clinical trial of orally-administered BCX4161 in healthy volunteers successfully met all of its objectives. The safety, tolerability, drug exposure and on-target kallikrein inhibition results of this Phase 1 trial strongly support advancing the development program into a Phase 2a study in hereditary angioedema (HAE) patients.

Health Net, Inc. (NYSE:HNT) shares dropped 3.09% to $32.35. The company, on July 25, said that its second-quarter profit dropped to $33.5 million, or 42 cents a share, from $124.6 million, or $1.48, a year earlier. Revenue fell to $2.74 billion from $2.84 billion. The company also cuts its full-year profit outlook by 10 cents a share to $2.10 to $2.20. Analysts, on average, were looking for profit of 52 cents a share in the second quarter and $2.24 for the year.

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