Healthcare Review: Herbalife Ltd, Ariad Pharmaceuticals, Dyax Corp, CEL-SCI Corporation, Achillion Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Friday, 14 March 2014 13:58
The stock market was little changed in afternoon trading Friday, alternating between small gains and losses. Investors remained focused on the developing crisis in Ukraine, with many buying up utilities in a bid for lower-risk stocks. The Standard & Poor's 500 index slipped about half a point, or 0.03 percent, to 1,845 as of 2:01 p.m. Eastern Time. The Dow Jones industrial average fell nine points, or 0.1 percent, to 16,099. The Nasdaq composite shed two points, or 0.1 percent, to 4,257.

Herbalife Ltd. ($NYSE:HLF) annual meeting will now be held on April 29 rather than April 24. (PR)The company continues to talk with top investor Carl Icahn regarding "potentially adding additional Icahn nominees to Herbalife's board." Herbalife agreed to add two Icahn-nominated directors last year.

Ariad Pharmaceuticals, Inc. ($NASDAQ:ARIA)’s shares gained 10% to $8.23. The company on Feb. 25 reported financial results for the fourth quarter and full year ended December 31, 2013 and provided an update on corporate developments. Net loss for the fourth quarter ended December 31, 2013 was $74.2 million, or $0.40 per share, compared to a net loss of $60.5 million, or $0.36 per share, for the same period in 2012. Net loss for the full year 2013 was $274.2 million, or $1.49 per share, compared to a net loss of $220.9 million, or $1.34 per share, for the full year 2012.

Dyax Corp. (NASDAQ:DYAX)’s shares decreased 9.85% to $9.15. The company on Mar. 14 announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock, offered at a price to the public of $9.25 per share. The gross proceeds to Dyax from this offering are expected to be $74 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Dyax. The offering is expected to close on or about March 19, 2013, subject to customary closing conditions.

CEL-SCI Corporation (NYSEAMEX:CVM)’s stock gained 7.87% to $1.37. The company on Mar. 4 announced its Phase III Head and Neck Cancer clinical trial of its investigational cancer immunotherapy treatment Multikine* (Leukocyte Interleukin, Injection) has activated its first U.S. clinical trial expansion site at 21st Century Oncology in Greenville, North Carolina. The trial is already active in dozens of hospitals and clinical centers in 12 countries.

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)’s shares gained 4.73% to $3.32. The company on Mar. 14 announced that two oral presentations were made at the 23rd Asian Pacific Association for the Study of the Liver (APASL) Conference 2014 in Brisbane, Australia. Updated Phase 2 clinical trial results evaluating a 150 mg loading dose followed by 50 mg once daily of ACH-3102 in combination with either once daily 200 mg or 400 mg of sovaprevir and twice daily ribavirin showed that 100% of patients achieved SVR12 (n=8) including subjects who had Y93 mutations at baseline. A second oral presentation on ACH-3102 was made at APASL 2014 that discussed clinical virology and the lack of virologic breakthrough that was observed in the novel Phase 2 clinical trial evaluating ACH-3102 with ribavirin for patients with treatment-naive genotype 1b HCV.

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