Healthcare Review: TetraLogic Pharmaceuticals, Rockwell Medical, Amgen, Chelsea Therapeutics, Rexahn Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Wednesday, 15 January 2014 14:06
U.S. stocks rose on Wednesday, with the S&P 500 hitting a record high after strong earnings from Bank of America and data pointed to improvement in the economy. Bank of America Corp shares climbed 2.7 percent to $17.22 and gave one of the biggest boosts to the S&P 500 after the second-largest U.S. bank said its quarterly profit surged by nearly $3 billion, as revenue increased and mortgage losses plunged in the clearest sign yet that the bank was shaking off the impact of the financial crisis.

 Shares of TetraLogic Pharmaceuticals ($TLOG) spiked suddenly in morning trading, and are now up sharply on the session. Market chatter suggests the move is attributable to optimism surrounding the company's research on "targeted cancer therapeutics designed to specifically induce cancer cell death," which traders are apparently linking to a study from researchers at Cornell who have reportedly developed a way to prevent metastasis— the research is being billed (by some) as somewhat of a "cure" for cancer.

Rockwell Medical ($RMTI) is notably higher in morning trading. Perhaps helping to tip sentiment is SA contributor and long-time RMTI bull EXPstocktrader, who is out with an article reminding investors that "consensus says [the shares] go over $19."

Amgen ($AMGN) is partnering with Massachusetts General Hospital and the Broad Institute to develop treatments for inflammatory bowel disease (IBD), a chronic disorder that affects millions worldwide. "IBD treatment options are limited," says Amgen VP of R&D Sean Harper. "We believe this collaboration...will help identify improved treatment options for these patients."

The sell-side continues to weigh in on Chelsea Therapeutics ($CHTP) following Thursday's Northera panel. Deutsche's Robyn Karnauskas lifts her target to $5 from $4, but notes the FDA could still decide against approval. Fair value is $8-9 assuming approval. Meanwhile, Wedbush is out reiterating an Outperform rating and an $8 target. "Our impression was that the panel came to appreciate the vagaries of clinical trials for neurological disorders—especially in orphan diseases like NOH," analyst Liana Moussatos says.

Shares of Rexahn Pharmaceuticals ($RNN) fall 14% on top of Tuesday's 27% decline. The company is set to sell $20M worth of units in a registered direct offering. Each unit consists of one share of common and a five-year warrant to purchase 0.25 of a share. The price per unit is $1.05.

 




"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 

Newsletter