Health Winners & Losers: Isis

Shares of biopharmaceutical company GTx Inc. (GTXI Quote) 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) 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) 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.