Senomyx(SNMX Quote) sank after the company reported disappointing third-quarter results and revised its sales guidance lower. Lately, the stock was dropping $3.04, or 16.7%, to $15.19.
The company reported a loss of $5 million in the quarter, compared with $4.7 million a year ago. On a per-share basis, Senomyx lost 17 cents compared with 18 cents a year ago. Analysts surveyed by Thomson First Call expected a loss of 19 cents a share. For the full year, the company lowered its revenue guidance to between $12 million and $13 million from $14 million to $16 million. Osiris Therapeutics(OSIR Quote) shares jumped after the company announced positive clinical trial data of its experimental Crohn's disease treatment Prochymal. The stock recently gained 11.8% to $16.79. In midstage trials of the drug, treatment with two of the stem cell-based infusions led to a statistically significant decrease in disease activity according to a measure of patient symptoms. With relatively low doses and a short treatment course, all patients evaluated in the trial saw a reduction in the severity of the disease within 28 days, the company says. Barr Pharmaceuticals(BRL Quote) has acquired 92% of Croatian pharmaceuticals company Pliva through a $2.5 billion tender offer. The company also said the Federal Trade Commission has voted 5-0 to permit the acquisition, subject to "minimal divestitures" of certain overlapping product lines.- Loading Comments...
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