|Regeneron soars on analysts upgrade. Spectrum moves higher on strong revenues. AH: Radient surges higher on trial results|
|By Mary Davila|
|Wednesday, 27 April 2011 18:59|
After the bell, shares Radient Pharmaceuticals Corporation (RPC) (AMEX:RPC) soared after the company announced the results of its analysis of data from the U.S. clinical trial conducted in collaboration with a well-recognized, large third-party not-for-profit group practice and its affiliates for RPC's Onko-Sure® in vitro diagnostic (IVD) cancer test.
Based on the final trial analysis, it has been determined that Onko-Sure® (DR-70) is a useful tool when combined with Carcinoembryonic Antigen (CEA) in detecting colorectal cancer (CRC) in all stages, and specifically, in early Stages (stages I and II) where early diagnosis and treatment can lead to better patient prognosis. Additionally, the study demonstrated RPC's Onko-Sure® IVD cancer test can be up to 17% more effective in detecting CRC in Stages I and II over Carcinoembryonic Antigen (CEA). Furthermore, the study also showed when Onko-Sure® is combined with CEA, the sensitivity of the combined tests delivers additional increased sensitivity as opposed to using CEA alone.
RPC plans to disseminate these results in a peer-reviewed journal, either independently or with other third party healthcare organizations. Additionally, RPC plans to present these results to physicians at international oncology conferences and scientific meetings.
RPC's Chairman and CEO Douglas MacLellan commented, "We are extremely pleased with the final data set analysis of this trial and look forward to broadly disseminating the findings. This is a significant milestone for Radient Pharmaceuticals, our dedicated staff, loyal shareholders and cancer patients, and for the future commercialization of this product."
Shares were up 10 cents or 24% to $0.52.
Shares of Regeneron Pharmaceuticals, Inc. (Nasdaq:REGN) soared nearly $15 today after the company, along with it's partner Sanofi-Aventis' reported late Tuesday, that its potential colon cancer drug met key goals. The companies reported that Zaltrap, in combination with chemotherapy, improved overall survival in patients with colon cancer that has spread. Several analysts upped their price target on Regeneron citing the blockbuster potential for Zaltrap.
Shares of Regeneron traded as high as $71.74, a 52 week high, before settling the day at $67.05, up $14.91 or 28.6%.
Shares Spectrum Pharmaceuticals (NasdaqGS:SPPI), jumped higher Wednesday after the biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, reported preliminary unaudited first quarter 2011 product revenues and that it anticipates reporting a record quarterly profit in the first quarter, including Q1 2011 product revenues in excess of $40 million, which would be almost a six-fold increase as compared to approximately $7 million in the first quarter 2010.
"We are pleased with our record revenue and profit during the first quarter,” said Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. “We believe that our strategy of having multiple commercial drugs has been validated, and our ability to respond to market developments has been demonstrated. While we expect ZEVALIN revenues to grow gradually over time as we continue to focus on driving adoption of ZEVALIN as the treatment of choice for appropriate patients, the revenue growth this quarter was driven by FUSILEV. There is great anticipation around several events for Spectrum over the next two years. If approved for colorectal cancer later this week, we believe it could represent a significant growth catalyst for the company. The PDUFA action date for FUSILEV’s use in colorectal cancer is this Friday, April 29th."
Shares of Spectrum gained 53 cents or 5.61% to $9.98.
Aegerion Pharmaceuticals, Inc. (Nasdaq:AEGR), moved higher today after the biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat severe lipid disorders, announced today the issuance of Patent No. 7,932,268 for lomitapide for "Methods for Treating Disorders or Diseases Associated with Hyperlipidemia and Hypercholesterolemia While Minimizing Side Effects" by the United States Patent and Trademark Office. Shares were up $1.20 to $19.99.
Cardiome Pharma Corp. (NASDAQ:CRME) (TSX:COM.to) jumped 21% today after the company was upgraded by RBC Capital to "Outperform". Shares gained 95 cents to $5.36.
Johnson & Johnson (NYSE:JNJ), the world's most comprehensive and broadly-based manufacturer of health care products, and Synthes, Inc. (SWX:SYST.VX.sw), a premier global manufacturer of orthopaedic devices, today announced that they have entered into a definitive agreement whereby Johnson & Johnson will acquire Synthes for CHF159 per share, or $21.3 billion. Upon completion of this transaction, Synthes and the DePuy Companies of Johnson & Johnson together will comprise the largest business within the Medical Devices and Diagnostics segment of Johnson & Johnson. "DePuy and Synthes together will create the most innovative and comprehensive orthopaedics business in the world and enable us to better serve clinicians and patients worldwide," said Bill Weldon, Chairman and Chief Executive Officer of Johnson & Johnson.
Nabi Biopharmaceuticals (Nasdaq:NABI) announced today that it has completed the Phase I trial for two of the PentaStaph antigens that began in December 2009. Completion of this trial was the final milestone associated with the sale of the PentaStaph vaccine candidate to GlaxoSmithKline Biologicals S.A. (NYSE: GSK). As a result of completing this milestone, Nabi has received $5 million under the agreement governing Nabi's sale of PentaStaph and related assets to GSK.
ACCESS PHARMACEUTICALS, INC. (OTCBB: ACCP), a biopharmaceutical company leveraging its proprietary drug-delivery platforms to develop treatments in areas of oncology, diabetes and RNAi, will attend this year's Oncology Nursing Society (ONS) Congress at the Boston Convention and Exhibition Center in Boston, MA.
Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board: ADLS.OB), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, announced that as of today the Company's ticker symbol has reverted back to "ADLS.OB."
Amylin Pharmaceuticals, Inc. (Nasdaq:AMLN) will be presenting at the Deutsche Bank 36th Annual Healthcare Conference on Wednesday, May 4, 2011 at 12:15 p.m. ET / 9:15 a.m. PT in Boston.
Dyadic International, Inc. ("Dyadic") (OTC: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of enzyme and protein products for the bioenergy, industrial enzyme and biopharmaceutical industries, announced today that it has been issued U.S. Patent No. 7,923,236 entitled, "Fungal Enzymes" by the United States Patent and Trademark Office ("USPTO").
Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX), a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases, today reported unaudited financial results for the first quarter of 2011. At March 31, 2011, Idenix's cash and cash equivalents totaled $31.4 million.
Life Technologies Corporation (NASDAQ:LIFE) today announced it will webcast a management presentation to investors as part of the Morgan Stanley West Coast Medtech and Life Science Tools Bus Trip which is being held at the company's headquarters in Carlsbad on Monday, May 16 at 1:00 PM PT.
Nektar Therapeutics (Nasdaq:NKTR) today reported its financial results for the quarter ended March 31, 2011.
PDL BioPharma, Inc. (PDL) (Nasdaq:PDLI) today reported financial results for the first quarter ended March 31, 2011.
Protalix BioTherapeutics, Inc. (NYSE-AMEX:PLX, TASE:PLX), announced today that Dr. David Aviezer, the Company's Chief Executive Officer, will present at two conferences during May 2011: the Bio-Manguinhos International Symposium on Immunobiologicals in Brazil and the ILSI-Biomed 2011 Conference in Israel.
Talecris Biotherapeutics Holdings Corp. ("Talecris") (NASDAQ:TLCR) today announced its financial results for the three months ended March 31, 2011 and filed its Form 10-Q with the U.S. Securities and Exchange Commission (SEC).
ThermoGenesis Corp. (NASDAQ:KOOL), a leading supplier of innovative products and services that process and store adult stems cells, said BoyaLife, a major stem cell bank in China, has become the largest operating cord blood banking organization in the country to commit to the implementation of its AXP® AutoXpress™ (AXP) and BioArchive® Systems used to process and store stem cells from cord blood.
Transgenomic, Inc. (OTCBB: TBIO) announced today that its President and Chief Executive Officer, Craig Tuttle, had presented the Company's latest results with its ultra-sensitive DNA mutation detection technology, COLD-PCR at BIT Life Sciences' 2nd World DNA and Genome Day Conference, April 25-30th, in Dalian, China.
WuXi PharmaTech (Cayman) Inc. (NYSE:WX) today announced that it filed its annual report on Form 20-F for the year ended December 31, 2010 with the Securities and Exchange Commission.