Healthcare Review: Tornier, VIVUS, Santarus, TrovaGene Inc, Nanosphere Print E-mail
By Staff and Wire Reports   
Wednesday, 07 August 2013 13:27
U.S. stocks fell for a second day as retailers posted results that disappointed investors while trade data fueled concern the Federal Reserve may begin to reduce its bond purchases this year. Treasuries slid, while the euro gained as reports signaled European economies are recovering. The U.S. trade deficit narrowed more than forecast in June to the lowest level since October 2009 as crude oil imports declined and American companies shipped more goods abroad, causing Goldman Sachs Group Inc. and Barclays Plc to raise their estimates for second-quarter economic growth.

Tornier N.V. (NASDAQ:TRNX) stock gained 20.26% to $19.12. The company on August 6 reported today its financial results for the second quarter ended June 30, 2013. Revenue for the second quarter of 2013 reached $78.1 million compared to second quarter 2012 revenue of $66.0 million, an increase of 18.4% as reported and 17.9% in constant currency. Revenue for the six months ended June 30, 2013 totaled $160.8 million, compared to revenue of $140.5 million for the same period of 2012, an increase of 14.5% as reported and 14.2% in constant currency.

VIVUS, Inc. (NASDAQ:VVUS) shares gained 6.11% to $13.83. The company on August 1 announced that it has entered into a Commercial Supply Agreement with Sanofi Chimie ("Sanofi"), a wholly owned subsidiary of Sanofi, to manufacture and supply the active pharmaceutical ingredient (API) for avanafil on an exclusive basis in the United States and other territories and on a semi-exclusive basis in the European Union and Latin America.

Santarus, Inc. (NASDAQ:SNTS) stock decreased 10.13% to $27.39. The company on August 6 reported financial and operating results for the quarter ended June 30, 2013. The company reported total revenues of $89.4 million grew 89% compared with total revenues of $47.2 million in the second quarter of 2012. Non-GAAP adjusted earnings were $24.3 million and diluted non-GAAP adjusted earnings per share (EPS) were $0.31 in the second quarter of 2013 compared with non-GAAP adjusted earnings of $7.1 million and diluted non-GAAP adjusted EPS of $0.10 for the second quarter of 2012. Net income of $73.5 million, or $0.94 diluted EPS.

TrovaGene Inc. (NASDAQ:TROV) stock jumped 6.85% to $9.52. The company on July 31 announced that it has closed a registered direct offering of $15 million of common stock at a price of $7.00 per share.  The shares were sold directly to an institutional investor by the Company. Trovagene intends to use the net proceeds from the offering to fund its research and development activities and for working capital and other general corporate purposes.

Nanosphere, Inc. (NASDAQ:NSPH) stock declined 31.51% to $2. The company on August 6 reported financial results for the second quarter ended June 30, 2013. Second quarter revenue was $1.9 million, compared to $1.3 million in the second quarter of 2012. The Company achieved 35 new customer placements in the second quarter of 2013. This year's placement guidance of 200-250 is revised to 150-200.




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