Healthcare Review: BG Medicine, Geron, Oculus Innovative Sciences, Advaxis, Prosensa Holdings Print E-mail
By Staff and Wire Reports   
Tuesday, 18 March 2014 14:19
U.S. stocks climbed for a second straight session on Tuesday, with the S&P within 1 percent of its intraday record after comments from Russian President Vladimir Putin relaxed investors' concerns that tensions over Ukraine could escalate. Gains were broad, with nine of the ten primary S&P 500 sectors higher on the day. Technology shares, up 1.3 percent, led the advance, buoyed by a rally in Microsoft Corp .

Investors are gobbling up nano cap BG Medicine ($BGMD +15.6%) today. Shares are up 16% on 6x normal volume. The current up trend began on December 12 after the company announced a 69% increase in Medicare reimbursement for its Gelectin-3 blood test. Since then, the firm announced positive results for the automated version of the test and met NASDAQ Capital Markets' listing requirements. Consensus revenue estimates for 2013 and 2014 are $4.1M and $6.2M, respectively.

Geron ($GERN +23%) is up 23% on 4x normal volume as investors storm back into the stock after last Wednesday's collapse. Market chatter believes shares are oversold due to the perception that the FDA-mandated clinical hold for Imetelstat will be temporary. Most of the observed elevations in liver enzymes are Grade 1 with no progression over prolonged exposure. The mean analyst recommendation is Hold.

Shares of nano cap Oculus Innovative Sciences ($OCLS +19.7%) enjoy a pop this morning continuing the up move that began on December 4 when the firm reported the FDA clearance of Microsyn Scar Management HydroGel. Consensus estimate for Q1 is a loss of $0.19/share on revenues of $3.4M.Consensus estimates for 2014 and 2015 are a loss of $0.51/share on revenues of $14.2M and a loss of $0.48/share on revenues of $15.2M, respectively.10 mutual funds have positions, up from 9 a year earlier.

Advaxis ($ADXS) has received a patent in Japan that covers the use of the company's ADXS-HPV immunotherapy product for the treatment of late-stage cervical cancer. The IP is set to last until 2028. Advaxis has over 40 patents worldwide and over 40 pending.

Prosensa Holdings N.V. ($RNA) reports a net loss of €16.6M (€0.51/share) on revenues of €8.9M for 2013. Comparable results for 2012 were a loss of €9.9M (€0.37/share) on revenues of €7.9M.Cash and equivalents at year end were €82.2M.Company regains all rights to drisapersen from GSK after the phase 3 for Duchenne Muscular Dystrophy (DMD) failed to meet its primary endpoint of a statistically significant improvement in the six-minute walk test versus placebo.

 




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