Healthcare Review: Prana Biotechnology Limited, Osiris Therapeutics, Anacor Pharmaceuticals, MannKind Corporation, ZIOPHARM Oncology Print
By Staff and Wire Reports   
Friday, 16 August 2013 13:05
U.S. stocks were little changed on Friday after the largest sell-off in almost two months in the previous session, but homebuilders rebounded on recent housing data. The S&P 500 and Nasdaq composite indexes were on track for the largest weekly declines since late June, and the Dow industrials headed for the largest weekly drop since April. U.S. housing starts rose 5.9 percent in July, compared with a 9.9 percent drop in June. Homebuilders Pulte Group and Lennar Corp. rallied on the news and were among the top percentage gainers on the S&P 500.

Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) stock jumped 10.99% to $4.14. 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.

Osiris Therapeutics, Inc. (NASDAQ:OSIR) stock jumped 9.72% to $21.52. 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.

Anacor Pharmaceuticals Inc. (NASDAQ:ANAC) shares gained 8.56% to $11.29. The company, on August 8, announced its financial results for the second quarter ended June 30, 2013. Revenues for the quarter ended June 30, 2013 were $3.4 million, compared to $2.6 million for the comparable period in 2012. Cash, cash equivalents, short-term investments and restricted investments totaled $51.1 million, including restricted investments of $5.3 million, at June 30, 2013.

MannKind Corporation (NASDAQ:MNKD) shares dropped 6.66% to $6.20. The company on August 14 announced positive preliminary results from Study 171, a Phase 3 clinical study of AFREZZA® (insulin human [rDNA origin]) Inhalation Powder, an investigational, ultra rapid-acting mealtime insulin therapy, administered using MannKind's next-generation (Gen2) inhaler (also known as the Dreamboat™ inhaler), in patients with type 1 diabetes.

ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) shares decreased 3.57% to $2.97. The company issued its quarterly earnings data on August 9. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.24) by $0.02. The company had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis.

 




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