Tuesday's Health Winners & Losers
Meanwhile, the FDA on Tuesday
The FDA said Amylin has agreed to include information about acute pancreatitis in the precautions section of the product label. The San Diego-based company has a collaboration agreement with Eli Lilly (LLY) and Alkermes (ALKS) to develop a sustained release version of Byetta for type II diabetes.
Amlyin shares fell $2.45, or 5.1%, to $45.41; Eli Lilly was down 79 cents, or 1.4%, to $57.15; and Alkermes fell 73 cents, or 4.2%, to $16.74.
On the clinical front, Repros Therapeutics (RPRX) said that it will refile for a clinical trial for secondary hypogonadism (testosterone deficiency) treatment Androxal as it has met with the FDA to determine study goals. Repros said it agreed that trial endpoints associated with male sexuality weren't appropriate. Shares rose $1.96, or 18.2%, to $12.69.Exelixis (EXEL) fell $1.18, or 9.9%, to $10.79, after reporting that a midstage study on proteinuria associated with diabetic kidney disease failed. The study missed its primary endpoint of decreasing proteinuria, the presence of excess protein in the urine, which is an indicator of renal disease. The company said it will provide an update on its plans once it's done analyzing the data. Elsewhere, Aastrom Biosciences (ASTM), which develops technology to repair tissue cells, said it plans to raise about $13.5 million in a registered direct offering of 11.8 million units to a group of institutional investors. The price of the offering is $1.14 per unit -- each unit consists of one share of the company's common stock and a warrant to buy 0.5 shares of Aastrom stock at $1.59 per share, a 25% premium to the stock's closing price on Oct. 15. It expects the offering to close soon. Shares dropped 17 cents, or 13.4%, to $1.10.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV