Below is a look at some of the headlines for companies that made news in the healthcare sector on November 9, 2010.
Shares of Bovie Medical Corporation (NYSE Amex: BVX), shot up more than 53% today after the manufacturer and marketer of electrosurgical products announced its financial results for the third quarter and nine months ended September 30, 2010.
Revenues for the third quarter ended September 30, 2010 increased 2% to $6,501,163 versus $6,371,371 for the comparable period last year; resulting in net income of $4,236 or $0.00 per diluted share as compared to net loss of $(37,749) or $.00 per diluted share in the same period last year.
Revenues in the third quarter were positively impacted by an increase in sales of generators, electrodes and cauteries both domestically and internationally offsetting a reduction in the sale of OEM ablator deliveries.
Revenues for the nine months ended September 30, 2010 were $17,997,180 versus $20,420,272 for the comparable period last year; resulting in net loss of $(165,774) or $(0.01) per diluted share as compared to net income of $568,136 or $.03 per diluted share in the same period in the prior year.
Subsequent to the close of the third quarter, the Company received net cash proceeds of $633,000 for the sale of its old facility in St. Petersburg, Florida.
Andrew Makrides, president of Bovie, stated, "With continued improvement in current electrosurgical sales, management is encouraged that, as 2011 approaches, future growth can be realized with the introduction of new product lines marketed by our increased number of independent sales reps, now totaling 37."
The Company recently submitted a 510(k) application with the Food and Drug Administration (FDA) to market a new handpiece with retractable cutting features to be used in both laparoscopic and open procedures. On November 8, 2010 Bovie filed additional patents for its new J-Plasma handpiece.
Shares of Bovie moved $1.41 or 53.41% to close Tuesday trading at $4.05. Earlier in the day shares hit an intra-day high of $5.00.
Genomic Health, Inc. (Nasdaq:GHDX) shares shot up as much as 22% today. After the market close Monday the company released Q3 financial report that showed a growth in sales and profits.
The biotech company reported a profit of 12 cents a share which compares to a loss of 2 cents a share for Q3 2009. Revenue for the quarter rose to $46 million from $40 million, an 18% jump in product sales helped the strong results. Shares of Genomic Health surged 20.63%, closing the day at $18.07, up $3.09.
Shares of Repros Therapeutics Inc. (NasdaqCM:RPRXD) fell today after reporting on the outcome of a Type B meeting held with the FDA to discuss two Phase 3 protocols for the use of Androxal in the treatment of secondary hypogonadism in men. The FDA opined that a Phase 2B study in men with secondary hypogonadism but naïve to testosterone treatment would provide for a more solid data base for design of Phase 3 studies and eventual approval of such studies under an SPA. The FDA did note "the Division agrees in general with the outline of your program for the development of enclomiphene" (Androxal). They further stated that if the Company moved to Phase 3 at this time it would do so at its own risk. Shares of Repros fell more than 17% or 27 cents to $1.25.
NewCardio, Inc. (OTC Bulletin Board:NWCI.ob), a cardiovascular diagnostic solutions developer, announced today that Dr. Samuel George, NewCardio's Senior Medical Advisor, will present the results of QTinno performance on a blinded "testing" dataset, conducted independently by the Cardiac Safety Research Consortium (CSRC), at the CSRC's Annual Meeting, to be held on December 9, 2010, at the headquarters of the Food and Drug Administration (FDA) in Silver Spring, MD.
At the meeting, Dr. George will present results of a blinded validation study in which CSRC-affiliated investigators independently evaluated the accuracy and precision of fully automated QTinno measurements in 11,672 electrocardiograms (ECGs) from the moxifloxacin and placebo arms of a recent Thorough QT Study (TQTS). In the study, the CSRC investigators made detailed comparisons of QTinno measurements to those originally submitted by the drug sponsor, with the primary comparators of accurate detection of the moxifloxacin effect on QT intervals.
PolyMedix, Inc. (OTC BB:PYMX.ob), an emerging biotechnology company focused on developing new therapeutic drugs to treat infectious diseases and acute cardiovascular disorders, announced that data from two separate pre-clinical research studies were published in the December issue of Molecular Oral Microbiology. The data demonstrated that PolyMedix’s investigational defensin-mimetic compounds exhibited both anti-inflammatory and antimicrobial activity against microbial biofilms that cause infections of the oral cavity. This is the first scientific publication of the discovery of anti-inflammatory activity with PolyMedix’s defensin-mimetic compounds.
Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board:ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced that it has submitted a full proposal to the National Institute of Allergy and Infectious Diseases (NIAID) under BAA-NIAID-DMID-NIHAI2010097 Development Of Therapeutics For Biodefense.
Aeterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ)today reported financial and operating results for the third quarter ended September 30, 2010.
Amylin Pharmaceuticals, Inc. (Nasdaq:AMLN) will be presenting at the Citi 7th Annual US Small/Mid Cap Conference in Las Vegas, Nevada on Tuesday, November 16, 2010 at 12:25 p.m. ET / 9:25 a.m. PT.
Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) today announced that it had released its financial results for the third quarter ended September 30, 2010.
AtheroNova Inc. (OTCBB: AHRO) a biotech company focused on the research and development of compounds to regress atherosclerotic plaque, announced that the Company has signed a research agreement for its second phase of a pre-clinical laboratory animal study to be conducted by the Cedars-Sinai Heart Institute's Division of Cardiology.
BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today that six holders of its 2.50% Convertible Senior Subordinated Notes due 2013 have agreed to exchange $87.0 million in aggregate principal amount of the notes for approximately 5.25 million shares of the Company's common stock.
Boston Scientific Corporation (NYSE:BSX) today announced the first implantation of its Vercise™ Deep Brain Stimulation (DBS) System as part of the VANTAGE clinical trial.
Capital Group Holdings, Inc. (PINKSHEETS:CGHC) announced today that its wholly-ownedsubsidiary, Main Street Family Pharmacy, has signed an agreement with Injectics, LLC.
Cardium Therapeutics (NYSE Amex:CXM) today reported highlights and financial results for its third quarter ended September 30, 2010.
China Biologic Products, Inc. (Nasdaq:CBPO) a leading plasma-based biopharmaceutical company in China, today announced that it will host a conference call at 9:00 a.m. EST on Tuesday, November 16, 2010, to discuss the third quarter 2010 financial results.
diaDexus, Inc. (OTC Bulletin Board:DDXS), a diagnostics company focused on the development and commercialization of patent-protected in vitro diagnostic products addressing unmet needs in cardiovascular disease, today announced that its Board of Directors has appointed two new independent directors, bringing the total number of directors to seven.
Dyadic International, Inc. (Pink Sheets:DYAI), a global biotechnology company, today announced that it will release financial results for the third quarter ended September 30, 2010 on Monday, November 15, 2010 before market open to be followed by a conference call at 11:00 a.m. Eastern Time.
Endo Pharmaceuticals (Nasdaq:ENDP) today announced that it will present at the Credit Suisse Healthcare Conference on Wednesday, November 10, 2010, at 12:00 p.m. EST.
GeoVax Labs, Inc. (OTCQB / OTC Bulletin Board:GOVX), an Atlanta-based biopharmaceutical firm developing vaccines that prevent and fight Human Immunodeficiency Virus (HIV) infections, today announced its financial results for the three and nine months ended September 30, 2010.
HearUSA, Inc. (NYSE Amex: EAR), a leader among the nation's hearing care providers, reported financial results for the third quarter ended September 25, 2010.
InfuSystem Holdings, Inc. (OTCBB: INHI) (OTCBB: INHIW) (OTCBB: INHIU), the leading provider of infusion pumps and associated products and services, today announced financial results and provided a business update for the thirdquarter ended September 30, 2010.
Kraig Biocraft Laboratories, Inc. (PINKSHEETS: KBLB) announced today that Henry Wendt, the renowned former head of SmithKline Beecham, has joined the Company's Board of Advisors.
Marijuana, Inc. (PINKSHEETS:PCIO) is proud to announce and acknowledge the decision of the Israeli Health Ministry committee on medical marijuana for recommending last Wednesday that Marijuana be added to the list of medicinal drugs.
Microfluidics International Corporation (OTC Bulletin Board:MFLU) announced today the Company will release third quarter 2010 financial results on Tuesday, November 16, 2010, at 8:30am ET.
NeoStem, Inc. (NYSE Amex:NBS) an international biopharmaceutical company with operations in the U.S. and China, today announced that NeoStem's Chairman and CEO, Dr. Robin L. Smith, M.D., MBA, will be honored tonight at Moves Magazine's 2010 Power Women Awards Dinner & Ceremony beginning at 6:30 pm at the Astor Center, 399 Lafayette Street, New York City.
NMT Medical, Inc. (NASDAQ: NMTI), an advanced medical technology company that designs, develops, manufactures and markets proprietary implant technologies that allow interventional cardiologists to treat structural heart disease through minimally invasive, catheter-based procedures, today announced financial results for the quarter ended September 30, 2010.
NuVim, Inc. (PINKSHEETS: NUVM) today announced that Edward Najjar has joined the investor relations firm Equiti-trend Advisors, LLC.
Pegasystems Inc. (NASDAQ: PEGA) today announced financial results for the third quarter and nine months ended September 30, 2010.
Poniard Pharmaceuticals, Inc. (Nasdaq:PARD), a biopharmaceutical company focused on innovative oncology therapies, today reported financial results for the third quarter ended September 30, 2010.
RightSmile, Inc. (PINKSHEETS: RIGH) the leader in Cosmetic Laser Teeth Whitening, has scheduled its Shareholder Meeting for 11am, Friday, Nov 19, 2010, to be followed by a press conference introducing two celebrities who will be endorsing RightSm
Sangamo BioSciences, Inc. (Nasdaq:SGMO) announced today that Edward Lanphier, Sangamo's president and CEO, will provide an update on the progress of Sangamo's ZFP Therapeutic® development programs and an overview of the company's business strategy at 4:40 pm ET on Tuesday, November 16, 2010, at the Lazard Capital Markets 7th Annual Healthcare Conference which will be held in New York City.
Stellar Pharmaceuticals Inc. (OTCBB:SLXCF) a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today announced financial results for the quarter ended September 30, 2010.
TomoTherapy Incorporated (NASDAQ: TOMO), maker of advanced radiation therapy solutions for cancer care, today released revised financial results for the third quarter ended September 30, 2010.
Verenium Corporation (Nasdaq:VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today announced that Janet Roemer, President and Chief Operating Officer, will present at the upcoming Jefferies 10th Global Clean Technology Conference.
Viro Pharma Incorporated (NASDAQ: VPHM) today announced the schedule of its upcoming Cinryze™ (C1 esterase inhibitor [human]) hereditary angioedema (HAE) presentations during the 2010 Annual Meeting of the American College of Allergy, Asthma & Immunology (ACAAI), November 11 through 16 in Phoenix, Ariz.
Verenium Corporation (Nasdaq:VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today reported a summary of recent Company highlights and financial results for the third quarter of 2010.
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