Monday's Health Winners & Losers
InSite Vision (ISV), an ophthalmic therapeutics, diagnostics and drug-delivery company, rose on news the Food and Drug Administration has accepted for filing and review the company's application for AzaSite. AzaSite is indicated for the treatment of bacterial conjunctivitis. Shares of InSite were gaining 5% to $1.69.
BioMarin Pharmaceutical (BMRN) was higher following word that Orapred ODT, an orally disintegrating tablet form of prednisolone, is now commercially available in the U.S. BioMarin's shares were up 1% to $15.85.
St. Jude Medical (STJ) ticked higher after the company said it would combine its cardiac surgery and cardiology divisions to create a new cardiovascular unit effective Jan. 1. Additionally, the company is initiating several changes to enhance the efficiency and effectiveness of its sales and customer service operations at certain international locations. Because of the restructuring, St. Jude expects to incur a pretax charge of $25 million to $35 million in the third quarter. St. Jude added 0.2% to $36.19.
Sinovac Biotech (SVA), a Chinese biopharmaceutical company, jumped 17.3% to $2.37 after it said the preliminary results of a Phase I clinical trial showed that its vaccine against the H5N1 strain of avian flu had a high safety and immunogenicity profile.Epix Pharmaceuticals (EPIXD) dropped after it received a letter from the Food and Drug Administration denying its formal appeal to approve its novel blood-pool imaging agent Vasovist and turning down the company's request for an advisory committee review. Shares of Epix were lower by 12.9% to $6.28. Shares of Corcept Therapeutics (CORT) were weaker for a second day, falling 10.4% to $1.38. The stock plunged Friday after the company announced negative results from a clinical trial on its experimental psychotic depression drug Corlux.
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