|Healthcare Review: Osiris Therapeutics, Insys Therapeutics, Prana Biotechnology, Alimera Sciences, AcelRx Pharmaceuticals|
|By Staff and Wire Reports|
|Tuesday, 13 August 2013 13:42|
Osiris Therapeutics, Inc. (NASDAQ:OSIR) stock surged 127.49% to $24.30. The company on August 13 said its Grafix stem-cell treatment for chronic diabetic foot ulcers met primary and secondary endpoints in a recent clinical trial that compared the product with conventional treatment. The study included 131 diabetes patients who received weekly applications of Grafix or conventional treatment. In the trial, 62% of patients receiving Grafix had complete wound closure compared with only 21% of patients who received conventional treatment.
Insys Therapeutics Inc. (NASDAQ:INSY) shares climbed 21.92% to $21.80 in the early hour. The company on August 13 announced its financial results for the three months ended June 30, 2013. Total net revenue increased $7.7 million, or 70%, to $18.8 million when compared to first quarter 2013 net revenue of $11.1 million. Net income for the second quarter of 2013 was $4.5 million and diluted earnings per share was $0.26 compared to a net loss of $6.4 million and diluted loss per share of $0.68 for the second quarter of 2012.
Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) stock jumped 5.45% to $3.68. The company on July 3 announced that it has received approval from the Austin Health Human Research Ethics Committee (HREC) to commence a 12-month open-label extension study with Alzheimer's Disease patients participating in Prana's IMAGINE trial. The approval follows a full review by Austin Health HREC of the potential benefit to patients and safety data collected during the ongoing IMAGINE trial, a 12-month double-blind Phase II clinical trial of PBT2 in Alzheimer's patients.
Alimera Sciences Inc. (NASDAQ:ALIM) stock dropped 16.47% to $3.55. The company on August 12 announced financial results for the second quarter ended June 30, 2013. Total revenue for the quarter ended June 30, 2013 was $179,000, which was generated in connection with the commercial launch of ILUVIEN in Germany and the United Kingdom during the quarter. Net loss attributable to common shareholders for the quarter ended June 30, 2013 was $(21.3) million, or $(0.67) per common share, compared with a net loss attributable to common shareholders of $(4.7) million, or $(0.15) per common share, for the quarter ended June 30, 2012.
AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) shares declined 7.67% to $9.99. The company on August 12 reported financial results for the three and six months ended June 30, 2013. Net loss for the second quarter of 2013 was $17.4 million, or $0.47 per share, compared with a net loss of $7.2 million, or $0.35 per share for the second quarter of 2012. Adjusted net loss for the second quarter of 2013 was $8.1 million, or $0.22 per share.
During the second quarters of 2013 and 2012, AcelRx recognized revenue of $407,000 and $224,000, respectively, as reimbursement for work completed under a research grant from the U.S. Army Medical Research and Materiel Command (USAMRMC), for development of ARX-04, a sufentanil NanoTab product candidate for the treatment of moderate-to-severe acute pain in a range of ambulatory environments.