|RxNews Recap for Tuesday 01-12-10|
|By Mary Davila|
|Tuesday, 12 January 2010 20:16|
Below is a list of the companies that made news in the healthcare sector on Tuesday, January 12, 2010.
Shares of Illumina Inc (NASDAQ:ILMN) a maker of tools for genetic analysis, surged today as the company reported preliminary fourth-quarter revenue above estimates. Helping the 15% gain was news of a large order received for its sequencing systems.
The company's preliminary revenue of $176 million is about 5 percent higher than analysts estimates.
In addition, Illumina said it expects earnings per share of 90 cents to $1, excluding items, for fiscal 2010. It sees revenue growth of about 20 percent from the now anticipated 2009 revenue of $662 million and expects 2010 gross margins in the mid-to-high 60s.
In a separate news release, Illumina reported that BGI, formerly known as the Beijing Genomics Institute, purchased 128 of its newly launched HiSeq 2000 gene sequencing systems.
Illumina said list price on the machines will be $690,000 each before volume discounts.
The new technology is the latest offering in an intense race among companies that make the machines to reduce the time it takes to decode a person's genome and to make it more affordable for use in both drug development and eventually patient medical care.
Other sequencing companies include Pacific Biosciences Inc., Life Technologies Inc. (Nasdaq: LIFE) and Helicos Biosciences Inc. (Nasdaq: HLCS)
The BGI order "renders the 2010 guidance pretty conservative" and the launch of the HiSeq should help address some of the concerns about the company's future beyond 2010, Cowen & Co analyst Doug Schenkel said.
Illumina said most of the units will be installed in BGI's genome center in Hong Kong. Installations will begin in the first quarter 2010 and will continue throughout the year. Revenue related to the sale of these instruments is expected to be recognized over the next three years, the company said.
Shares of Illumina closed up just shy of 16 percent to $39.17 and continued to trade higher after the bell.
In other news from movers and shakers today:
Alcon, Inc. (NYSE: ACL) will report on its fourth quarter financial results for the period ended December 31, 2009 after the market close on Thursday, February 11, 2010.
BioCyst Pharmaceuticals Inc (NASDAQ: BCRX) Mexico has approved BioCryst Pharmaceuticals Inc.’s lead experimental flu drug Peramivir. BCRX's partner, Moksha8, has been granted approval from the Federal Commission for the Protection against Sanitary Risk in Mexico to use Peramivir to treat patients with the H1N1 flu virus.
Celgene International Sàrl (NASDAQ: CELG) today announced that the Intergroupe Francophone du Myelome and University Hospital of Toulouse, the sponsor of the study, reported that the independent Data and Safety Monitoring Committee, of the international Phase III, randomized, double-blind, multi-center clinical study (IFM 2005 02) evaluating REVLIMID® (lenalidomide) compared to placebo in multiple myeloma patients following autologous stem cell transplant, has reviewed a preplanned interim analysis and indicated that the primary endpoint of the study has been met.
GlaxoSmithKline (NYSE:GSK) reported today that the German government reduced its order for swine flu vaccine by about 30%. GSK will continue to deliver about 34 million doses or approximately 70% of the original order. GlaxoSmithKlinealso indicated that they are amidst discussions withother governments regarding their plans for the vaccine. Thus far there have been no changes to orders with the U.S.
Life Technologies Corporation (NASDAQ: LIFE), a provider of innovative life science solutions, today announced that it has signed a definitive agreement to acquire AcroMetrix, for an undisclosed amount. “The addition of AcroMetrixwill accelerate the expansion of our focused commercial channel for reaching molecular diagnostics customers, bothwiththe current product portfolio and with assays in development,” said Mark Stevenson, Life Technologies’ President and Chief Operating Officer. “Our objective is to become the technology partner of choice to organizations worldwide that are building out their molecular diagnostic capabilities.”
Luna Innovations Incorporated (NASDAQ: LUNA), a company focusing on sensing, instrumentation and nanotechnology, announced today that it has emerged from Chapter 11 reorganization, less than six months after filing.
Myriad Genetics Inc., (NASDAQ:MYGN) shares traded lower today on a downgrade from Oppenheimer. Analyst Amit Hazan cut his rating from "Perform" to "Underpeform" citing weakness in sales of its BRACAnalysis test for hereditary breast and ovarian cancer as a result of fewer women keeping OB/GYN appointments due to the state of the economy.
Nektar Therapeutics (Nasdaq: NKTR) today announced preliminary results from the first stage of a two-stage Phase 2 clinical study evaluating NKTR-102 in women with platinum-resistant ovarian cancer.
NexMed, Inc. (Nasdaq: NEXM), a specialty CRO and a developer of products based on the NexACT® technology, today announced that pre-clinical results from its research and development group at Bio-Quant successfully demonstrated the ability of the NexACT technology to deliver an oral formulation of Taxol® (paclitaxel) and to enhance the drug’s bioavailability by approximately ten-fold through this oral administration. Shares were up a whopping 85% in Tuesday trading and at one point reached a new 52 week high of .76.
Spectrum Pharmaceuticals (NASDAQ:SPPI) saw its shares soar over 11% as the company reported that the second of two Phase III pivotal clinical trials of apaziquonehas achieved its enrollment target. The two trials enrolled more than 1600 patients with non-muscle invasive bladder cancer. A $1.5 million milestone payment will be paid by Allergen to Spectrum Pharmaceuticals per the companies collaboration agreement.
Symbollon Pharmaceuticals, Inc. (OTCBB: SYMBA) has decided to internalize the retail launch of IoGen™, its dietary supplement for women’s breast health. IoGen is the first dietary supplement formulated to promote breast health for women. The Company plans to market IoGen through various retail channels, including sales through its own internet web site
Synta Pharmaceuticals Corp. (NASDAQ: SNTA), a biopharmaceutical company focused on discovering, developing, and commercializing small molecule drugs to treat severe medical conditions, today announced that preclinical results presented at the AACR-IASLC (American Academy of Cancer Research – International Association for the Study of Lung Cancer) Joint Conference.
Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.