Earnings breathed life into a few biotech stocks, allowing some to end the week a bit higher.

Tercica

(TRCA)

reported third-quarter earnings Thursday after the close, saying it earned $3.4 million, or 7 cents a share, in the quarter, vs. a loss of $13.1 million, or 35 cents a share, in the year-ago period. Revenue increased to $23.4 million from $316,000 in light of a $20.3 million licensing milestone payment from Ipsen related to the marketing authorization in the European Union of Increlex solution, an injection for treatment of short stature.

Analysts polled by Thomson Financial expected a loss of 25 cents a share on revenue of $9.6 million. Shares rose 80 cents, or 14%, to $6.49.

Also with earnings after the close on Thursday,

Santarus

(SNTS)

reported a net loss of $6.9 million, or 13 cents a share, compared to a loss of $12.4 million, or 26 cents a share, in the comparable 2006 period. Its quarterly revenue increased 105% to $26.5 million year over year, including a $5 million milestone payment the company received in August from Schering-Plough HealthCare relating to the companies' over-the-counter license agreement. Shares added 20 cents, or 9.4%, to $2.33.

NPS Pharmaceuticals

(NPSP)

reported third-quarter net income of $14.1 million, or 28 cents a share, vs. a net loss of $21.1 million, or 45 cents a share, in the 2006 quarter. The company said the year-over-year change reflects aggressive expense reduction measures, increased revenue from royalties and product sales, and gains from the sale of fixed assets related to site closures in Salt Lake City and Toronto.

Excluding the net proceeds generated by new business development activities and financing transactions executed in 2007, NPS said it anticipates a 2007 cash burn between $70 million and $80 million, vs. earlier guidance of $80 million to $90 million. The company also revised its previous year-end cash balance guidance to a range of $130 million to $140 million from previous guidance of $65 million to $75 million. Shares were up 54 cents, or 12.4%, at $4.81.

Tercica, Santarus and NPS helped to support the Nasdaq biotechnology index, Friday, which was up 5.01, or 0.6%, to 882.19.

Meanwhile,

Icagen

(ICGN)

said net income for the third quarter was $5.6 million, and 13 cents a share, compared to a net loss of $5.5 million, or 25 cents a share, during the 2006 period. The company said the increase in year-over-year net income was primarily due to the accelerated recognition of $10.4 million of deferred revenue that came as a result of the Sept. 18 termination of a collaboration with McNeil.

However, in light of its new collaboration with Pfizer, Icagen now expects revenue to be about $21 million, including the partial amortization of the $12 million upfront payment from Pfizer, the R&D funding from Pfizer, and the recognition of the entire balance of deferred revenue associated with the McNeil collaboration, which was about $12.5 million as of Dec. 31, 2006. The company previously estimated revenue of $16 million to $17 million.

Shares nudged down 3 cents, or 1.7%, to $1.80.

Away from earnings,

Vertex

(VRTX) - Get Report

said Friday that in two midstage clinical trials more than 60% of hepatitis C patients were cured after taking its experimental drug telaprevir, but the drug also resulted in more side effects. Shares fell $2.88, or 9.1%, to $28.74.

And a non-earnings winner,

Chelsea Therapeutics International

(CHTP)

said it entered into agreements with several institutional and accredited investors to raise about $48.9 million in a registered direct offering, before placement agent fees and offering expenses. At closing, Chelsea will issue around 7.4 million shares of its common stock at $6.62, which was the closing price on Nov. 1.

Financing is expected to close on or about Nov. 7, and proceeds will be used to fund continued clinical development of CH-1504 including Phase II trials in rheumatoid arthritis, initiation of pivotal Phase III trials of Droxidopa in neurogenic orthostatic hypotension, expansion of its Droxidopa clinical program into other indications and for general working capital. The stock rose 39 cents, or 5.9%, to $7.01.