were among the winners of health-related stocks Thursday, rising 4% after the drug-development services company said it plans to shut down its Florida operations.
"SFBC International remains dedicated to providing the highest-quality, early and late-phase clinical-trial testing services to our clients," the company said. "The recent decision by the Unsafe Structures Board will further hinder our ability to restore profitability at our Miami operation, resulting in an acceleration of our review and decision to discontinue the operations of this part of the country." The Unsafe Structures Board, the company said, gave SFBC 60 days from May 17 to file for a permit to demolish its Miami facility. The company, however, plans to appeal the ruling so that it can unwind its operations in an orderly fashion.
SFBC also withdrew its 2006 financial guidance. "While the Florida operations were expected to account for approximately 10% of revenue in 2006, the losses from these operations were previously expected to impact our earnings from operations by approximately $7.5 million to $9 million in 2006," the company said. Shares were trading up 68 cents to $16.63.
rose 3% after the drugmaker said its experimental anesthetic performed well in a late-stage trial. The topical anesthetic "provided a statistically significant reduction in pain compared to placebo when administered just one to three minutes prior to venipuncture and intravenous line-placement procedures in children," the company said. Corgentech plans to present results from the study on Saturday at a medical conference in San Francisco. The company said it expects to file a new drug application for the anesthetic with the
Food and Drug Administration
during the summer. Shares were trading up 18 cents to $6.80.
rose 3% after the biopharmaceutical company said that
initiated a Phase II trial of MK-0354, a drug candidate for the treatment of atherosclerosis that was discovered by Arena. The initiation of the Phase II trial triggered a $4 million milestone payment to Arena. The company's shares were trading up 40 cents to $12.39.
slid 11% after Piper Jaffray downgraded the stock to market perform from outperform. Piper, which has a $20 price target on the stock, said an American Red Cross contract for antibody screening, if awarded to the company, appears to be smaller than what Wall Street analysts expect. The firm also said that Immucor's updated fiscal 2007 outlook, expected at the end of the month, will likely be below expectations. Shares were down $2.03 to $16.83.
Other health care volume movers included
, down 35 cents to $23.92;
, down 86 cents to $46.03;
, down 21 cents to $20.39;
Johnson & Johnson
, up 14 cents to $60.27;
, up 75 cents to $20.47;
, up 30 cents to $17.26;
, up 2 cents to $19.31;
, down 95 cents to $67.42;
, down 18 cents to $38.02;
, up 29 cents to $49.48; and
, down 3 cents to $40.70.