Health Winners & Losers: Isis

Shares of biopharmaceutical company GTx Inc. (GTXI Quote - Cramer on GTXI - Stock Picks) fell 3.2% to $16.91 after the company aired its quarterly results. GTx said its loss widened to $12.7 million, or 35 cents a share, from $8.1 million, or 23 cents a share, in the year-earlier period.

Revenue rose to $4.5 million from $1.7 million -- analysts surveyed by Thomson Reuters had expected a loss of 30 cents a share on revenue of $3.7 million.

Looking ahead, GTx said that it anticipates a full-year 2008 loss of between $52 million and $62 million, while the Thomson Rueters consensus calls for a loss of $44.7 million.

In other earnings, Medarex (MEDX Quote - Cramer on MEDX - Stock Picks) said that factoring out certain items such as the sale of 2.5 million shares of Genmab stock and a 4-cent per-share stock-based compensation expense, it lost 30 cents a share in the recent quarter. Revenue edged up to $12 million from $11.5 million the prior-year period.

Analysts polled by Thomson Reuters had pegged a loss of 38 cents a share on sales of $11.6 million. (Consensus estimates typically factor out one time items but include stock-based compensation expenses.)

Shares edged down 1.1% to $7.03 on lighter-than-average volume.

Away from earnings, Morgan Stanley analyst Steven Harr downgraded ImClone (IMCL Quote - Cramer on IMCL - Stock Picks) to underweight from equal weight on Monday, ahead of data set to be released at the American Society of Clinical Oncology meeting in June. Harr said in a note to investors that he believes the data for Erbitux in both lung an colorectal cancers won't meet expectations. ImClone shares were off 7.3% at $41.58.

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