were among the worst-performing health-related stocks Thursday, falling 7.2% after the company said that it received a delisting notification from
The company said that its stock faces possible delisting because it has failed to file its annual report with the
Securities and Exchange Commission
. Biolase previously disclosed that it has not filed its annual report because it is still assessing the effectiveness of its internal controls over financial reporting for 2004. The company intends to file an appeal with Nasdaq, which will allow its stock to continue trading on the exchange until Nasdaq makes a final decision. Shares of the medical technology company traded down 58 cents to $7.49.
rose 39.3% after the company received an unsolicited bid from
to buy the company for about $82 million, or $8.50 a share. Bio-Rad, which already owns close to 5% of BioSource's outstanding shares, said that it has made repeated attempts during the past two years -- including as recently as Monday -- to pursuade BioSource to merge with it. "Each of these attempts," Bio-Rad said, "was rebuffed by the BioSource board of directors." Bio-Rad would like to complete the deal in a friendly manner but said that by delivering its proposal notice it is preserving its ability to pursue a proxy solicitation. Shares of BioSource traded up $2.65 to $9.40.
fell 24.6% after the company said that its drug to treat systemic lupus erythematosus did not demonstrate a statistically significant benefit in a phase III clinical trial. The trial, conducted by its licensee, Genovate Biotechnology, was a randomized, placebo-controlled, double blind study aimed at determining the effect of prasterone on the bone mineral density of women with lupus receiving glucocorticoids. The primary endpoint was bone mineral density at the lumbar spine and the treatment duration was nine months, Genelabs said. The company plans to meet with the Food and Drug Administration so that it can figure out a course of action for Prestara, its formulation of prasterone. Shares traded down 14 cents to 43 cents.
rose 3.8% after the company posted third-quarter earnings and sales that were better than expected. Excluding items, the healthcare technology company posted earnings from continuing operations of $6.8 million, or 16 cents a share, on sales of $122.6 million. Analysts polled by Thomson First Call were expecting earnings of 12 cents a share on sales of $119.6 million. A year ago the company posted earnings of $9.2 million, or 25 cents a share, on sales of $111.3 million. Looking ahead, the company forecast fourth-quarter adjusted earnings of 8 cents to 12 cents a share, in line with analysts' expectations of 11 cents a share. Shares traded up 59 cents to $16.30.
Other health care movers included
, up 4 cents to $26.90;
, up 60 cents to $33.49;
, up 17 cents to $3.72;
, up 39 cents to $19.34;
, up $2.16 to $37.31;
, down 25 cents to $33.26;
, up $1.13 to $36.53;
, up 70 cents to $58.75; and
Johnson & Johnson
, up 43 cents to $69.24.