Health Stocks in Motion: Sirna
Shares of Rockwell Medical Technologies (RMTI) were up 24% after the hemodialysis products maker said second-quarter sales increased 77.8% over last year. Net income in the second quarter was $85,456, or 1 cent a share. Separately, the company said the European Patent and Trademark Office will issue a patent for its proprietary iron delivery product. Rockwell was up 77 cents to $3.97.
China Medical Technologies (CMED) was gaining 15% on its first day of trading after pricing an initial public offering at $15 a share. Shares of the China-based medical devices company were up $2.30 to $17.30.
Coley Pharmaceutical Group (COLY) rose nearly 18% after selling shares in an initial public offering at $16 each. The biopharmaceutical company's stock was rising $2.83 to $18.83.
KV Pharmaceutical (KV.A) was climbing 6.5% after the company's revenue for the first quarter rose 29% to $85.5 million. After a writeoff of 62 cents a share for a product acquisition, the company lost 45 cents a share. Excluding this writeoff, adjusted earnings for the first quarter would have been $8.5 million, or 16 cents a share, topping estimates by 3 cents. The specialty pharmaceutical company rose $1.06 to $17.15.Curative Health Services (CURE) dropped 28% after the company posted revenue of $71.6 million and a loss was $4.8 million, or 37 cents a share, for the second quarter. Before items, the company would have lost 31 cents. Curative shares lost 96 cents to $2.52. CuraGen (CRGN) sank nearly 14% after the biopharmaceutical company priced a public offering of 4 million shares at $5.50 each. The proceeds of the offering will be about $21 million. Shares of CuraGen were down 82 cents to $5.24. Sirna Therapeutics (RNAI) fell 8% after reporting a loss of $5.9 million, or 14 cents a share, for the second quarter. Revenue for the second quarter was $1.5 million. Shares of the clinical-stage biotechnology company were losing 34 cents to $3.76.
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