Healthcare Review: Synergy & Pluristem Jump, InterMune Slumps On Earnings while Obagi Bounces Ahead Of Them

U.S. stocks slumped on Monday pressured by rising soaring yields on Spain's 10- year bond past 7.5% on Monday as government debt extended a selloff from Friday. Also, Spanish and Italian regulators imposed a short-selling ban on Monday. However, there are several healthcare stocks which are showing impressive strength at mid day on Monday. Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is bucking the market trend and rose 3% to $4...

New York, 23/07/2012 (informazione.news - comunicati stampa - varie) U.S. stocks slumped on Monday pressured by rising soaring yields on Spain's 10-year bond past 7.5% on Monday as government debt extended a selloff from Friday. Also, Spanish and Italian regulators imposed a short-selling ban on Monday. However, there are several healthcare stocks which are showing impressive strength at mid day on Monday.

Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is bucking the market trend and rose 3% to $4.47 after agreed to acquire Callisto Pharmaceuticals, a development stage bio-pharmaceutical company focused primarily on the development of drugs to treat GI disorders and diseases.

Pluristem Therapeutics Inc. (NASDAQ:PSTI) extended its past week's gain of 35% and rose another 3% to $3.49. The company plans to apply for FDA authorization of its stem cell treatment for aplastic bone marrow as an orphan drug or rare-disease treatment. The benefits of orphan-drug status include an accelerated regulatory process, possible grant money and tax credits. Pluristem also intends to apply for similar designations outside the U.S.

Those who had been holding out hope for Monday buy-out news at Obagi Medical Products, Inc. (NASDAQ:OMPI) dropped shares as low as $14.75 before other speculators dove in for the discounted shares. Despite the overall market decline, there has been a steady accumulation of OMPI shares in anticipation of the Company's financial results for the second quarter; expected August 2 after the market close. A recent report listed the firm as one of six rallying healthcare stocks with strong receivable trends and observers expect to see positive numbers from the company following several fundamental developments.

InterMune, Inc. (NASDAQ:ITMN) shares slumped 15% after posting weak revenue in the latest quarter. The company posted revenue of $5.5 million, missing analysts' target of $40 million. Loss from continuing operations came in at $50.9 million, or 78 cents per share, again missing analysts' estimates of a loss of 23 cents per share. The company expects full-year revenue from Esbriet to be between $20 million and $25 million, while analysts estimate revenue of $77.9 million.

Repligen Corporation (NASDAQ:RGEN) climbed 7% to $4.16 on unusual volume. Last week, the company has received a Complete Response Letter   from the U.S. Food & Drug Administration (FDA) regarding the Company's New Drug Application for RG1068 (synthetic human secretin).

Copyright Thomson Reuters


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: %s via Thomson Reuters ONE