Healthcare Review: Repros Therapeutics, Curis, Sunshine Heart Inc, AMN Healthcare Services, Hansen Medical Print E-mail
By Staff and Wire Reports   
Monday, 05 August 2013 13:52
U.S. stocks edged lower on Monday, with indexes pulling back from record levels as investors looked for new catalysts to spur further market gains. The S&P 500 has risen for five of the past six weeks, gaining more than 7 percent over that period. The index closed at an all-time high on Friday despite a disappointing read on the labor market, which showed that hiring slowed in July. In the latest read on the services sector, the Institute for Supply Management's July non-manufacturing index came in at 56, above expectations of 53 and over the previous month's read of 52.2. Stocks were little impacted by the data.

Repros Therapeutics Inc. (NASDAQ:RPRX) dips on a negative article in TheStreet.com saying the company is worried about the validity of its Androxal patent. Despite reassurances by RPRX, recent action it's taken to obtain a declaratory judgment affirming its intellectual property rights in a Texas court suggests the company is actually much more worried than it lets on about the risk of it being invalidated. A New York urologist has accused RPRX CEO Joe Podolski of stealing the idea for Androxal from him after a face-to-face meeting in New York City.

Curis, Inc. (NASDAQ:CRIS) moves up after its Q2 easily topped estimates this morning. Revenue grew by 25% Y/Y, primarily the result of an increase in royalties received from Genentech/Roche's net sales of Erivedge and its achievement of certain clinical objectives in its ongoing Phase 1 clinical study of CUDC-907. The company currently anticipates that it will end 2013 with around $49M to $54M in cash and equivalents, which includes the $6M milestone payment that it earned in July related to the conditional approval of Erivedge in the European Union.

Sunshine Heart Inc. (NASDAQ:SSH) pops on a report out of Runway Research saying the company's C-Pulse Heart Assist System is a "game changing device" that could lead to a buyout worth as much as $50 per share. SSH received unconditional FDA approval for the C-Pulse(R) system's U.S. pivotal trial in November, 2012. With the device, Runway says that SSH is targeting the New York Heart Association's Class III and ambulatory Class IV Congestive Heart Failure market, which is an enormous untapped opportunity with approximately 1.5M patients in the U.S. and another 3.7M patients in Europe.

AMN Healthcare Services, Inc. (NYSE:AHS) gets a big boost from an upgrade to Neutral from Sell at UBS. The firm also raises its price target to $16 from $9. UBS says that despite an uneven turn around in the medical staffing sector, the company has continued to post solid numbers. Additionally, problems at its largest competitor, Cross Country Healthcare (CCRN), have created an opportunity for AHS to gain market share.

Hansen Medical, Inc. (NASDAQ:HNSN) pops after announcing the first patients have been enrolled in its Artisan-AF Trial, a test of the company's Artisan family of Control Catheters with its Sensei X Robotic Catheter System for the treatment of atrial fibrillation. The Company announced in May that it had received conditional approval of the new study design from the FDA, and is targeting the enrollment of as few as 125 subjects at up to 14 investigational sites.




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