Healthcare Review: IsoRay, Osiris Therapeutics, Idenix Pharmaceuticals, Zalicus, Acadia Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Friday, 01 November 2013 14:11
U.S. stocks rose on Friday, rebounding following two days of losses as solar companies jumped on results and strong data on manufacturing. Equities have been pressured since Wednesday, when a Federal Reserve statement raised concerns about when the central bank would begin to scale back its stimulus program, which has contributed to the S&P 500's advance of 23 percent this year. Some investors interpreted comments in the statement as suggesting the Fed would begin tapering stimulus earlier than expected.

Shares of IsoRay ($ISR) trade up after Maxim Group initiates the isotope-based cancer treatment producer at Buy with a PT of $1.50. Maxim is the first firm to cover IsoRay. From yesterday's close, that implies a potential upside of 188%.

Shares of Osiris Therapeutics ($OSIR) soar following the company's Q3 results. Revenue rises 220% from Q3 2012 and gross margin expands by 254%. The company notes that it is now profitable and cash flow positive. Management addresses the controversy surrounding Grafix on the CC, calling the FDA agreement "favorable. "Importantly, the company says the perceived delay in notifying the public about the Untitled FDA letter it received was due to the fact that the agreement the company struck with the regulator included FDA review of any press release related to the matter. Due to the government shutdown, that review was delayed.

Shares of Idenix Pharmaceuticals ($IDIX) are on-the-move this morning, trading sharply higher on heavy volume. Although there are no readily apparent catalysts for the move, the company did give an HCV pipeline update Wednesday along with its Q3 report. Also of note, IDIX said its cash "will be sufficient to sustain its operations through December 2014."

Zalicus ($ZLCS) announces results from a Phase 1b Z944 study. The company used the LEP model to "compare the analgesic/anti-hyperalgesic properties of three different single doses of Z944 in a model of inflammatory pain and in a model of chronic neuropathic pain as compared with placebo."Results: "Statistically significant and meaningful reductions at each of the three doses compared to placebo of overall PtP amplitude, consistent trends in reduction of subjective pain scores compared to placebo, Z944 was generally well tolerated with dose dependent CNS side effects."

Acadia Pharmaceuticals ($ACAD) announces the publication of Phase 3 pimavanserin results in PDP.The data, published today in The Lancet, shows "pimavanserin met the primary endpoint ... by demonstrating highly significant improvement in psychosis compared to placebo on the 9-item SAPS-PD scale." "The mean change in SAPS-PD score represented a 37% improvement for pimavanserin versus 14% for placebo," the company notes.

 




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