|Depomed and Synergetics lead health stocks on Tuesday|
|By Staff and Wire Reports|
|Tuesday, 11 October 2011 15:34|
Investors accumulated shares of DepoMed Inc.(NASDAQ:DEPO) and pushed the stock slightly higher a day after the company announced the launch of GRALISE(TM) as a new once-daily treatment for postherpetic neuralgia (PHN), the pain following healing of the rash associated with shingles.
"The launch of GRALISE is a major milestone for Depomed," said Jim Schoeneck, the company's president and CEO said when the company formally announced the news development on Monday afternoon. "Starting today, our sales force is introducing this new once-daily therapy for PHN to physicians and pharmacists. We have also received positive reactions from insurers and we expect to have broad managed care coverage."
Shares of DEPO traded up to $6.12 +0.63 (11.48%) on slightly less than average volume (+93.30%) on a day when most other small-cap stocks traded flat.
Each year, about one million Americans develop shingles, a painful viral infection caused by a reactivation of the same virus that causes chickenpox. It is estimated that up to one in five people with shingles will experience prolonged pain after shingles, known as postherpetic neuralgia or PHN. The pain can persist long after the shingles rash has healed and can disrupt sleep, mood, work and other daily activities.
Shares of Synergetics USA (NASDAQ:SURG) traded higher to $6.27+0.57 (10.00%), in anticipation of the firm's 4th Quarter and Fiscal 2011 Results. After the bell, the medical device company that designs, manufactures and markets innovative microsurgical instruments and other devices said that fourth quarter 2011 net income rose 100% to $2.0 million, or $0.08 per diluted share, compared with $1.0 million, or $0.04 per diluted share, in the fourth quarter of 2010. Fourth quarter sales rose 21% to a record $15.8 million in fiscal 2011 compared with sales of $13.1 million in the fourth quarter of fiscal 2010.
“Synergetics’ record results for the fourth quarter highlight the solid progress we have made since last year in building our sales of ophthalmic and neurosurgical products and in improving our profitability,” stated Dave Hable, President, CEO and Director of Synergetics USA, Inc. “Our record net income benefited from higher sales, growth in our margins and improved leverage of selling, general and administrative expenses.
“Our sales accelerated in the second half of 2011 due to increased demand for our ophthalmic disposable products and the contribution from new products introduced over the past year. Disposable product sales have grown to approximately 80% of our total product sales,” continued Mr. Hable. “We improved our manufacturing efficiencies by continuing to adopt lean manufacturing techniques that resulted in a 15% improvement in sales per production employee compared with the prior year. After fiscal year end, we implemented a new ERP system that we expect will result in further efficiencies in our planning and administrative functions.”
Advaxis, Inc., (OTCBB:ADXS) a leader in developing the next generation of immunotherapies for cancer and infectious diseases, has been granted a pre-Investigational New Drug (“IND”) meeting with the U.S. Food and Drug Administration (“FDA”) on November 22nd, 2011 to discuss the initial clinical development plan for ADXS-HER2, a construct for the treatment of HER2 expressing cancers.
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, announced today the publication of two peer-reviewed papers documenting systemic delivery of RNAi therapeutics to certain immune and inflammatory cells.
Anacor Pharmaceuticals (NASDAQ:ANAC) announced today that the University of California San Francisco (UCSF) has been awarded $718,136 in funding from the National Institutes of Health (NIH) to discover and optimize novel oxaboroles as antimalarial drugs in collaboration with Anacor Pharmaceuticals.
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX), announced today that the independent Data Monitoring Committee (DMC) has completed the seventh unblinded review of the LibiGel Phase III cardiovascular and breast cancer safety study, which has completed enrollment of subjects.
Chembio Diagnostics, Inc. (OTCQB: CEMI) (PINKSHEETS: CEMI), which develops, manufactures, markets and licenses point-of-care diagnostic tests, announces that its DPP® Syphilis Screen & Confirm Assay has received a CE marking.
China Medical Technologies, Inc. (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic ("IVD") company, today announced that it has received two patents from the United Kingdom Intellectual Property Office (the "UKIPO") and Notice of Allowance for four patent applications from the United States Patent and Trademark Office (the "USPTO"). All patents relate to the Company's SPR technology.
Codexis, Inc. (Nasdaq: CDXS) today announced that Achilles Antonio Clement has been named Director, Latin America.
Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing the Symphony® tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude® SkinPrep System for transdermal drug delivery, today announced that Samir Farah, who has more than fifteen years of medical product design and development experience, has joined Echo Therapeutics' management team at a critical stage in product development and company growth.
eHealth, Inc. (NASDAQ: EHTH), the leading online source of health insurance for individuals, families, and small businesses, announced today that the company plans to release third quarter 2011 financial results on October 25, 2011.
FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, said today that the announcement of the "Major Diagnostic Breakthrough in Multiple Sclerosis Achieved With Advanced UPRIGHT® MRI" was first announced at a Radiology Department Grand Rounds at the University of California San Diego Medical Center. Raymond Damadian, MD, president and founder of FONAR delivered the Grand Rounds to the assembly on October 4.
Genesis Biopharma, Inc. (OTCBB: GNBP), a biotechnology company developing targeted cancer immunotherapies, today announced it has entered into a Patent License Agreement (the "License Agreement") with the National Institutes of Health, an agency of the United States Public Health Service within the Department of Health and Human Services ("NIH").
Healthnostics, Inc. (PINKSHEETS: HNSS) is moving the launch of MicroFill-2160 to the 1st Quarter of 2012.
Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) today presented new data on its novel gene-silencing oligonucleotide (GSO) technology at the Cell Symposium on Regulatory RNAs in Chicago, IL.
International Stem Cell Corporation (OTCBB: ISCO) announces today successful completion of the first series of preclinical studies designed to support the safety and utility of neuronal cells derived from human parthenogenetic stem cell line (hpSC).
Medidata Solutions (NASDAQ: MDSO), a leading global provider of SaaS-based clinical development solutions, today announced that Novella Clinical, a full service contract research organization (CRO), has expanded its use of Medidata products with the addition of Medidata Grants Manager®, the industry’s leading investigator site benchmarking tool.
Omeros Corporation (NASDAQ: OMER) today announced that the first patients have been treated in the Company's Phase 3 clinical program evaluating OMS302 in intra-ocular lens replacement surgery.
Pacira Pharmaceuticals, Inc. (Nasdaq: PCRX) today announced that new data highlighting the pain control and pharmacokinetic properties of EXPAREL™ (bupivacaine liposome extended-release injectable suspension), the company's lead investigational product for postsurgical pain management, will be presented during poster presentations at the 2011 Annual Meetings of the American Society of Anesthesiologists (ASA) and the American College of Clinical Pharmacy (ACCP) in Chicago and Pittsburgh, respectively.
PROLOR Biotech, Inc. (NYSE Amex: PBTH) today announced that it received a notice of allowance from the U.S. Patent and Trademark Office (PTO) for a patent application covering PROLOR's CTP-modified interferons.
Roche (SIX: RO, ROG; OTCQX: RHHBY) and Arizona Technology Enterprises (AzTE) announced today an agreement to license several technologies developed by Dr. Stuart Lindsay at the Biodesign Institute at Arizona State University and Dr. Colin Nuckolls of the Columbia University Nanoscience Center for the development of a revolutionary DNA sequencing system.
Soligenix, Inc. (OTCBB: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company, announced today the formation of a Medical Advisory Board (MAB) to provide medical/clinical strategic guidance to the Company as it relates to the development of SGX203 (oral beclomethasone dipropionate, or oral BDP) for the treatment of pediatric Crohn's disease.
ThermoGenesis Corp. (NASDAQ: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, said today that its submission for approval of the AXP® AutoXpress® (AXP) which is used to concentrate stem cells from cord blood, has been accepted by the State Food & Drug Administration (SFDA) in China.
United Therapeutics Corporation (NASDAQ: UTHR) today announced that it intends to offer, subject to market and other conditions, $210 million aggregate principal amount of convertible senior notes due 2016 to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
Vanguard Health Systems, Inc. (NYSE: VHS) announced that Carol J. Burt has joined the Company's Board of Directors.
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) announced today that INCIVEK™ (telaprevir) tablets are now available in Canada for people with genotype 1 chronic hepatitis C with compensated liver disease (some level of damage to the liver, but the liver still functions), including cirrhosis (scarring of the liver).
VisualMED Clinical Solutions Corp. (PINKSHEETS: VMCS) (FRANKFURT: VA6) announces that a major article in the New York Times analyzes the failure of old IT models and practices in the giant $20 billion dollar British Health IT program that ended in a resounding fiasco.