Thursday's Health Winners & Losers
Angiotech Pharmaceuticals (ANPI) saw its shares edge lower after the company's profit met analysts' estimates in the latest quarter. The company earned $1.8 million, or 2 cents a share, for the second quarter. Excluding litigation expenses, the company earned 20 cents a share, in line with estimates. Shares of Angiotech lost 2 cents to $11.85.
Shares of pain drug developer Pozen (POZN) sank following the company's announcement that its second-quarter losses doubled.
Pozen lost $8.4 million, or 29 cents a share, in the quarter compared with a loss of $4.1 million, or 14 cents a share, last year. The company attributed the wider loss to an extension of the amortization period for recognizing upfront payments for its drug Trexima. Analysts surveyed by Thomson First Call were expecting a loss of 26 cents a share. Total revenue reached $97.7 million, while analysts were expecting $89.9 million. Shares added 1 cent to $10.45.
Drug developer CoTherix (CTRX) was down 10% to $7.41 a day after its latest quarterly report.The company reported sales of $16.2 million, up 12% from the first quarter. However, its loss was $10.9 million, or 38 cents a share, compared with a loss of $6.3 million, or 26 cents a share, last year. Among other movers were Targeted Genetics (TGEN), down 10.7% to $2, and Bioenvision (BIVN), off 2.4% to $4.50. Titan Pharmaceuticals (TTP) was up 13.5% to $2.10, Cell Therapeutics (CTIC) rose 2.4% to $1.29, Adventrx Pharmaceuticals (ANX) gained 8% to $3.26, and BioMarin (BMRN) was up 7.8% to $15.54.
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