Thursday's Health Winners & Losers - TheStreet

Updated from 2:31 p.m. EDT

Mixed earnings results, expectations and announcements continued to drive an uneven response in the biotech and health care sector Thursday.

Among the winners,

AtheroGenics

( AGIX) climbed 6 cents, or 2.2%, to $2.90 following an earnings release Thursday. The company reported a net loss that narrowed by 34.2% compared with the same quarter in 2006. The company's net loss per share was 32 cents; analysts surveyed by Thomson Financial had estimated that the company would lose 39 cents a share.

Cephalon

( CEPH) announced on Wednesday that it expects first-quarter earnings per share to exceed previously issued guidance by 50%, driven by lower expenses and stronger-than-expected sales. Shares jumped by $5.12, or 6.8%, to $80.42.

Losing ground Thursday was

Affymetrix

(AFFX)

, which released disappointing earnings late Wednesday. The company saw a 6.9% decrease in revenue from a year ago, and shares dropped $3.59, or 11.4%, to $27.88.

Elsewhere,

Zoll Medical's

( ZOLL) shares fell $3, or 10.5%, to $25.50 after it reported earnings beating Wall Street's estimates but showed revenue shy of targets.

Cancer-drug maker

ImClone Systems'

(IMCL)

first-quarter results included a steep decline in profit, driven by a decline in license fees and milestone revenue, but results were in line with analysts' expectations. Its share price closed up 74 cents, or 1.7%, to $43.49.

Other stocks that were down, even after reporting smaller-than-expected losses, included

Celera

( CRA), which fell 19 cents, or 1.3%, to $14.11, and

Millennium Pharma

( MLNM), which fell 32 cents, or 2.7%, to $11.64.

Affimetrix and Millennium Pharma helped to drive down the Amex Biotechnology Index, which lost 0.1%.

Bristol-Myers Squibb

(BMY) - Get Report

was down 47 cents, or 1.6%, to $29.23, following earnings that show that first-quarter profit is down and that the company missed estimates.

Earnings were not the only market movers Thursday.

Shares of

Columbia Labs

(CBRX)

rose 31 cents, or 13.3%, to $2.65 following an announcement that preliminary results from a phase III clinical trial of a gel for the prevention of preterm birth were positive.

Cerrus

(CERS) - Get Report

announced Thursday it is mulling alternatives for its immunotherapy program, including partnering the business with another company or spinning it out for an equity interest in a newly-formed immunotherapy company. Shares were up 27 cents, or 3.5%, to $7.94.

Staar Surgical

(STAA) - Get Report

, a developer of implantable lenses and related ophthalmic products, announced the pricing of an underwritten public offering of 3.1 million shares of its common stock for $5 a share on Thursday. Its stock was up 10 cents, or 2%, to $5.11, following the announcement.