Healthcare Review: DexCom, Navidea Biopharmaceuticals, Cerner, ArQule, Geron Print E-mail
By Staff and Wire Reports   
Friday, 27 September 2013 13:46
U.S. stocks declined on Friday, with the S&P 500 and Dow on track for their first weekly drop in four, as debt and budget negotiations by lawmakers in Washington continued. The S&P is roughly 2 percent below its record high set last week and is facing resistance at its 14-day moving average, now at about 1,699.

DexCom ($DXCM) sinks after the FDA approves Medtronic's (MDT +0.2%) MiniMed 530G.Billed as an "artificial pancreas," the device shuts down insulin delivery when it senses blood sugar levels have fallen too low. Both DXCM and Insulet (PODD -2.6%) could have done without the news — the companies market glucose monitors and insulin pumps.

Navidea Biopharmaceuticals ($NAVB) moves up after CEO Mark Pykett's presentation at the Biotech Industry Conference. Pykett updated the RIGscan and Manocept programs as well as NAV4694 and NAV5001. Also notable: Terren Peizer reported a 9.9% passive stake Thursday.

Cerner ($CERN) shares spike after the company inks a multi-year strategic partnership with Intermountain (which operates 22 hospitals in Utah and Idaho) to implement Cerner's electronic medical record and revenue cycle solutions across all of Intermountain's hospitals and clinics.The collaboration also aims to leverage Intermountain's clinical processes and data as well as build a new set of tools, such as activity-based costing, for "a post-fee-for-service world."

B. Riley's Gene Mannheimer told Benzinga that the partnership is "huge" and could be valued at "a couple hundred million dollars." Making things sweeter, Cerner beat out Epic for the contract, which has recently been viewed as the likely winner of "any contract up for grabs."

Today's rally in shares of ArQule ($ARQL) is likely attributable to RBC's Adnan Butt, who Reuters quotes as saying that an upcoming presentation at ESMO could mean another shot for tivantinib in lung cancer. The drug was effectively left for dead (at least as far as NSCLC goes) last October when ARQL and partner Daiichi Sankyo (DSKYF.PK) dropped a Phase 3 trial due to lack of efficacy.

This month's big Geron ($GERN) rally takes another leg higher. With today's move, the shares are up around 151% in September. At least one trader in the options market thinks the rally has further to go: The purchase of 3K November 3 strike calls was partially funded by the sale of 3K November 5 strike calls. Although the upside in this trade is capped, there's still a nice profit to be made if GERN trades up to or above $5 by expiration.

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