|Healthcare Review: Rockwell Medical Inc, pSivida Corp, Emeritus Corporation, MannKind, Synta Pharmaceuticals|
|By Staff and Wire Reports|
|Friday, 06 September 2013 13:14|
Rockwell Medical Inc. (NASDAQ:RMTI) shares climbed 8.89% to $8.72. The company on Sept. 4 said its lead experimental drug met the main goal of improving hemoglobin levels in its final late-stage trial among adult patients with chronic kidney disease. The study was the second of two identical late-stage studies testing the drug in patients with chronic kidney disease on hemodialysis — a process by which waste and extra fluid is removed from the blood of patients with kidney failure.
pSivida Corp. (NASDAQ:PSDV) stock jumped 4.34% to $3.83. The company will present at two upcoming investor conferences in September. pSivida will present at the Rodman & Renshaw Annual Global Investment Conference being held at the Millennium Broadway Hotel in New York on Tuesday, September 10 at 12:05 p.m. The company will also present at the Stifel Nicolaus Healthcare Conference being held at the Four Seasons Boston Hotel, in the Winthrop Room, on Thursday, September 12 at 11:30 a.m.
Emeritus Corporation (NYSE:ESC) shares declined 12.57% to $19 in the morning hour. The company on Sept. 6 announced a revision to 2013 guidance. The Company's updated guidance for 2013 is as follows: Community, ancillary services, and management fee revenue in the range of $1.90 billion to $1.95 billion; Routine capital expenditures in the range of $28.0 million to $30.0 million; Senior living general and administrative expenses as a percent of total senior living operated revenue of approximately 4.9%, excluding non-cash stock-based compensation expenses; Adjusted CFFO in the range of $1.95 to $2.05 per share, with third quarter 2013 guidance in the range of $0.45 to $0.50 per share.
MannKind Corporation (NASDAQ:MNKD) shares dropped 7.30% to $5.84. The company on August 14 reported positive preliminary results from Study 171, a Phase 3 clinical study of AFREZZA 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.
Additionally, the company on August 9 reported financial results for the second quarter ended June 30, 2013. The net loss for the second quarter of 2013 was $46.1 million, or $0.16 per share, as compared with a net loss of $36.6 million, or $0.23 per share based on 159.9 million.
Synta Pharmaceuticals Corp.(NASDAQ:SNTA) shares gained 3.73% to $6.67. The company announced that the Company will present at the Stifel 2013 Healthcare Conference on Wednesday, September 11, at 3:15 p.m. (EDT) in Boston.
Additionally, the company on Aug. 7 announced that the results from an interim survival analysis of the GALAXY-1 trial will be presented at this year's Best of ASCO Meetings in Chicago, Los Angeles, and Boston. GALAXY-1 is a global, randomized Phase 2b/3 study designed to evaluate the efficacy and safety of the Company's lead drug candidate, ganetespib, as second-line treatment for patients with advanced non-small cell lung adenocarcinoma.