|Healthcare Review: EDAP SA, Novartis, Herbalife, Abiomed, Alkermes plc|
|By Staff and Wire Reports|
|Thursday, 31 July 2014 13:55|
Shares of EDAP SA ($EDAP) crater on a 6x surge in volume after the FDA's Gastroenterology and Urology Devices Ad Comm panel voted against recommending approval of the company's Ablatherm Integrated Imaging device for the treatment of prostate cancer.
In a just-published article detailing clinical trial results for Novartis' ($NVS -1.2%) antimalarial drug candidate, KAE609 (cipargamin), the parasite was cleared in adult patients in a median time of only 12 hours, including patients with resistant infections.
Herbalife ($HLF) has earmarked a newly-constructed facility in Jiangning High-tech Industry Park, Nanjing as its newest manufacturing site in China. The company will invest up to $400M to develop the facility in time to commence manufacturing by the end of 2015. It will ultimately produce up to 65% of the firm's product requirements in China.
Abiomed ($ABMD) fiscal Q1 results: Total Revenues: $48.8M (+14.3%); Operating Expenses: $50.3M (+14.3%); Operating Loss: ($1.5M) (-15.4%); Net Loss: ($1.7M) (+0.8%); Loss Per Share: ($0.04) (unch); Quick Assets: $87.1M (+14.1%).
Alkermes plc ($ALKS) Q2 results: $153.4M (+10.7%); Operating Expenses: $176.2M (+40.8%); Operating Loss: ($22.8M) (-268.9%); Net Income: $3.7M (-49.3%); Quick Assets: $713.9M (+58.6%). Total revenues: $580M - 610M (unch); COGS: $165M - 175M (unch); R&D: $260M - 280M from $225M - 245M; SG&A: $190M - 200M (unch); GAAP net loss: ($90M - 110M) from ($70M - 90M); GAAP EPS loss: ($0.62 - 0.76) from ($0.48 - 0.61); non-GAAP net income: $30M - 50M from $65M - 85M; non-GAAP EPS: $0.19 - 0.32 from $0.41 - 0.54; FCF: up to $20M from $30M - 50M.