Healthcare Review: Rosetta Genomics, Community Health Systems, Tekmira Pharmaceuticals, Achillion Pharmaceuticals, Trovagene Print
By Staff and Wire Reports   
Monday, 18 August 2014 13:51
U.S. stocks rose sharply Monday, boosted by news of corporate deal-making and a rally in European shares. The Dow Jones Industrial Average gained 173 points, or 1%, to 16836 in midday trading. The S&P 500 index advanced 17 points, or 0.9%, to 1972. The Nasdaq Composite Index tacked 43 points, or 1%, to 4508. Little in the way of economic data was on tap Monday. The National Association of Home Builders said their gauge of home-builder confidence came in two points higher at 55 this month.

Rosetta Genomics ($ROSG) appoints Douglas Sites as EVP of Sales and Marketing reporting to CEO Kenneth A. Berlin. Previously, he was VP of Sales and Marketing at Asuragen.

Shares of thinly-traded nano cap Trovagene ($TROV) jump on a 6x surge in volume albeit on turnover of only ~450K. Prices have rebounded ~50% from the August 1, 2014 low of $2.97. Shares peaked at $10.27 about a year ago (August 5, 2013). The firm is developing tests to detect cell-free DNA in urine samples.

In a regulatory filing, Community Health Systems (NYSE:CYH) reports that Chinese hackers breached its computer network and stole non-medical identification data pertaining to ~4.5M patients from its physician practice operations. The attack occurred sometime between April and June 2014. The pilfered information did not include credit card, medical or clinical data but did include patient names, addresses, birth dates, telephone numbers and social security numbers.

Shares of Tekmira Pharmaceuticals (NASDAQ:TKMR) are up 5% on modest volume. Its Ebola-stoked run began past month. Prices rose 183% from the July 17 low of $8.86 to a high of $26.05 on August 11 before profit-taking drove shares back down to ~$16. The rollercoaster ride began last year. Prices rocketed up from ~$5 to a high of $31.48 after the company announced a deal with Monsanto. Prices then corrected down to July 17's $8.86.

Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) are up 7% on fair volume. Prices have jumped ~240% since June 9 when the FDA lifted its clinical hold on the company's Phase 1 trial of sovaprevir. On Friday, the company reported positive results from an interim analysis of a Phase 2 trial of ACH-3102 plus Sovaldi, albeit for only 12 patients.

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