Healthcare Review: Coronado Biosciences, Horizon Pharma, XOMA, Prana Biotechnology, Gentium Print E-mail
By Staff and Wire Reports   
Thursday, 22 August 2013 18:01
Trading was halted on the Nasdaq stock exchange on Thursday because of technical problems while U.S. stocks rose slightly. All traffic through Nasdaq stopped at 12:14 p.m. (1614 GMT), the exchange said on its website, adding that trading in all Nasdaq-listed shares would be halted until further notice. The Securities and Exchange Commission said it was monitoring the situation, while Nasdaq, owned by NASDAQ OMX Group, urged securities firms to route all their trades elsewhere.

Coronado Biosciences Inc. (NASDAQ:CNDO) shares gained 11.63% to $8.16. The company on August 5 announced its financial results for the second quarter ended June 30, 2013. The company reported a net loss of $10.7 million and $19.5 million for the three and six months ended June 30, 2013, respectively, compared to a net loss of $6.5 million and $13.0 million for the three and six months ended June 30, 2012, respectively.

Additionally, the company announced that Dr. Karin Hehenberger, Coronado's Executive Vice President of Scientific Affairs, will present at the Themes in Helminth Biology Conference on Friday, August 30, 2013, at 8:30 AM EET. Dr. Hehenberger will also be chairing the Helminths and Type 1 Diabetes panel discussion. The conference will be held in Hydra, Greece on August 28-31, 2013.

Horizon Pharma Inc. (NASDAQ:HZNP) stock climbed 11.41% to $2.36. The company on August 22 said it entered into settlement and license agreements with Par Pharmaceutical Companies, Inc and its unit, Par Pharmaceutical, Inc., to resolve a patent litigation involving DUEXIS (ibuprofen and famotidine) tablets. Pursuant to the license agreement, Horizon has granted non-exclusive right to market a generic ibuprofen and famotidine product in the U.S. under Par's Abbreviated New Drug Application, beginning January 1, 2023, or earlier under certain situations.

XOMA Corp. (NASDAQ:XOMA) shares jumped 10.20% to $4.43. The company on August 20 announced the pricing of 7,596,685 shares of its common stock at a price to the public of $3.62 per share. In addition, XOMA anticipates its aggregate net proceeds from the offering will be approximately $25.5 million after deducting the underwriting discount and estimated offering expenses payable by XOMA. The offering is expected to close on or about August 23, 2013, subject to customary closing conditions.

Additionally, the company on August 7 reported total revenues of $7.2 million in the second quarter ended June 30, 2013, compared with $9.3 million in the corresponding period of 2012. For the second quarter of 2013, XOMA had a net loss of $17.2 million (or $0.21 per share), compared with a net loss of $16.2 million (or $0.24 per share), for the second quarter of 2012.

Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) stock jumped 8.87% to $4.91. The company on August 1 announced the first of several key appointments in the near term to advance PBT2 into late stage and pre-market clinical development of PBT2 as a treatment for Alzheimer's and Huntington's diseases. Dr. Peter Smith has been engaged to drive business development for Prana's lead drug PBT2 globally at an important time for Prana with results from Phase II clinical trials for Huntington's and Alzheimer's diseases expected in October 2013 and March 2014 respectively.

 

Gentium S.p.A. (ADR) (NASDAQ:GENT) shares climbed 8.23% to $20.90 in the early hour. The company posted its quarterly earnings results on August 13. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. On average, analysts predict that Gentium SpA will post $0.32 earnings per share for the current fiscal year.

Additionally, Analysts at Brean Capital boosted their price objective on shares of Gentium SpA from $21.00 to $24.00 in a research report issued to clients and investors on August 14. The firm currently has a “buy” rating on the stock.




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