|Healthcare Review: ANI Pharmaceuticals, Ampio Pharma, Stemcells, Spectrum Pharmaceuticals, Ariad Pharmaceuticals|
|By Staff and Wire Reports|
|Friday, 27 December 2013 17:22|
U.S. stock indexes barely budged on Friday, taking a break from the rally that has repeatedly pushed stocks to all-time highs this week as investors close out a stellar year for equities. Twitter Inc, the social media stock, which has nearly tripled in price since going public in early November, slid 7.1 percent to $68.11 by midday. The stock, however, is still up about 13.5 percent for the week. Twitter was among the most actively traded on the New York Stock Exchange.
Shares of ANI Pharmaceuticals ($ANIP) trade 11% higher in as Investors appear pleased with the company's acquisition of 31 generic products from Teva. The deal "demonstrates ANI's commitment to diversify [the] marketed product portfolio and supplement internal product development efforts," the company says.
Ampio Pharma ($AMPE) has made a mixed-shelf filing to raise $100M by selling an unspecified number of stocks and warrants. The company will use the proceeds for general corporate purposes. Existing shareholders may also offer 1.5M shares.
Stemcells ($STEM) has made a filing to raise $100M in stock, warrants and/or debt securities, saying that the registration statement will become effective "from time to time." Stemcells plans to use the proceeds for general corporate purposes, including R&D, clinical trials and acquisitions.
“Expectations remain low so there is likely more upside opportunity than downside risk," RBC's Adnan Butt says of Spectrum Pharmaceuticals ($SPPI). Butt likes SPPI's "aggressive business development, pipeline advancement, and new launches" and think "sales from currently marketed products [will] deliver a stable base and downside protection." RBC is also looking forward to a number of catalysts in 2014 including "NDA filings, product approvals and Phase 2 data."
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) looks to continue its rally today following the announcement last Friday that the U.S. Food and Drug Administration, or FDA, approved a revised Prescribing Information and a Risk Evaluation and Mitigation Strategy for the company’s leukemia drug Iclusig. Per the revised label, Iclusig can now only be prescribed to patients with chronic myeloid leukemia who have failed to benefit from or are ineligible to take other alternative therapies, including Novartis AG’s (NYSE: NVS ) Gleevec. Gleevec is currently a first-line treatment, whereas Iclusig is now a treatment of last resort in many ways.