Health Winners & Losers: Isis

Health stocks followed the broader markets higher at the start of the week amid various earnings.

The Nasdaq and Amex biotech indices and the Amex Pharmaceutical index stretched into the green -- but by less than a percentage point -- on Monday.

Helping the indices along, biotechs Amgen (AMGN Quote) and Biogen Idec (BIIB Quote), were up 2.1% and 1.6%, respectively. While pharmas Wyeth (WYE Quote), Abbott (ABT Quote) and Merck (MRK Quote) added 2.2%, 1.9% and 1.6%.

Also rising, Isis Pharmaceuticals (ISIS Quote) reported a first-quarter loss of $4.3 million, or 5 cents a share, in the recent quarter, narrowed from a loss of 16 cents a share a year prior. Revenue grew to $21.4 million, from $2.5 million, while Wall Street analysts were looking for a loss of 10 cents a share on revenue of $22.1 million. Isis shares rose 7.4% to $12.64.

Of those stocks losing ground, Xoma (XOMA Quote) posted a first-quarter loss of $14.2 million, or 11 cents a share, vs. a loss of $15.9 million, or 14 cents a share, a year prior.

Revenue edged down to $12.1 million from the $12.3 million in the 2007 period and falling short of its the Thomson Reuters consensus. Analysts were expectign a loss of 11 cents a share on revenue of $16.4 million. Revenue reflects royalties from Genentech's (DNA Quote) Lucentis and Raptiva and also Xoma's contacts with Schering-Plough (SGP Quote), Takeda and the National Institute of Allergy and Infectious Diseases (NIAID).

Xoma shares were down 7.3% at $2.15.