shares gained 7% after the cancer-drug developer said its second-quarter loss narrowed.
The Seattle-based company lost $21 million, or 20 cents a share, compared with a year-ago loss of $36.2 million, or 57 cents a share. Analysts were expecting a loss of 25 cents a share. The company didn't record any product sales in the quarter, compared with $7.4 million a year ago. Revenue from licensing and contracts fell to $20,000 from $96,000 a year ago.
Preliminary clinical-trial results from 40 patients with non-Hodgkin's lymphoma also boosted Cell Therapeutics shares Tuesday. A phase III trial on its drug pixantrone produced "encouraging" results that support the continuation and expansion of the trial, the company said in a press release. Phase III is the stage of trials conducted just before a drug is submitted to the Food and Drug Administration for marketing approval. Shares were up 9 cents to $1.33.
( VTIV) rose 11% after earnings exceeded analysts' estimates. The pharmaceuticals service provider made 66 cents a share in the second quarter, including 30 cents a share in tax benefits. inVentiv earned 32 cents a share in the second quarter of last year.
Excluding certain one-time items, the company earned 37 cents a share, compared with analysts' estimates of 32 cents a share. Revenue was up 39% to $183 million, compared with the $181.3 million analysts were expecting. Shares were up $3.01 to $30.
shares rose 9% on a positive earnings report.
The gastrointestinal drug developer earned $6.9 million, or 14 cents a share, during the second quarter. Excluding certain charges, earnings were $7.8 million, or 16 cents a share. Analysts were expecting earnings of 15 cents a share.
Revenue rose 51% from a year ago to $52.9 million, thanks partly to Xifaxan prescription growth of 122% over the prior year. Xifaxan is indicated for the treatment of travelers' diarrhea associated with the bacteria Escherichia coli. Analysts were expecting revenue of $51 million. Shares gained 95 cents to $11.34.
( KOSP) shares rose 5% on an earnings beat.
Kos earned $13.9 million, or 28 cents a share, down from $28.9 million, or 61 cents a share. However, excluding certain one-time charges, the company earned 59 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 42 cents a share.
Revenue also exceeded expectations, reaching $223.7 million, compared with estimates of $215.3 million.
( BTRX) shares fell 13% after losses widened.
The drug developer lost $13.9 million, or 58 cents a share, for the second quarter, compared with a year-ago loss of $10.8 million, or 45 cents a share. Analysts were expecting a loss of 53 cents a share.
Revenue more than doubled to $1.08 million from $472,000 a year ago. Shares fell 86 cents to $5.55.
( ISPH) fell 8% on a second-quarter loss.
Inspire's net loss widened to $5.4 million, or 13 cents a share, from the year-ago $4.7 million, or 11 cents a share. Analysts were expecting a loss of 18 cents a share. Revenue in the second quarter was $13.4 million, compared with $9.6 million a year ago.
Among other health stocks sinking Tuesday were
, down 2.5% to $44;
, off 1.2% to $43.26;
( NFLD), down 2.3% to $11.35; and
, down 9.8% to $14.80.
Among health stocks rising were
, up 9.6% to $8.25;
AMN Healthcare Services
, up 6.8% to $22.54;
, up 3.8% to $15.98; and
, up 2.8% to $18.59.