Here-and-there news underscored an overall flat biotech sector on Tuesday, while
felt the aftermath of a series of announcements.
Encysive said after Monday's market close that it will replace its CEO, cut 70% of its workforce and end a key trial of its hypertension drug, Thelin. The stock sank 15 cents, or 7.5%, to $1.73 in recent trading Tuesday.
Click here for more coverage from
Encysive didn't hurt the
Biotechnology index, which was up 1.16, or 0.2%, to 795.47.
said Tuesday that results from three phase I trials showed its topical antibiotic, REP8839, to be safe, well-tolerated and associated with low drug absorption into the blood stream. Based on the results, the company said it would initiate phase II trials in children with impetigo by the end of the year. The stock was down 29 cents, or 4.9%, to $5.64 nonetheless.
On another note,
said Tuesday its fiscal fourth-quarter earnings rose to $534,000, or 5 cents a share, compared to $95,000, or a penny a share, during the same period last year. Quarterly revenue increased 8% to $14.4 million. The company said its fiscal full-year net income was $2.2 million, or 19 cents a share, compared with $1.5 million, or 14 cents a share, the previous year. The company's shares were up 4 cents, or 1%, to $4.13.
On the up side,
said Tuesday that the Food and Drug Administration
approved label extensions for its moderate to severe facial wrinkle and fold treatments Juvederm Ultra and Juvederm Ultra Plus. The stock benefited 82 cents, or 1.4%, to $58.80.
Oculus Innovative Sciences
was up Tuesday after the company said the journal
published results from a study evaluating the impact of its Microcyn Technology. The company said the results suggest that Microcyn inhibits mast cells from releasing histamine and cytokines, which are the primary catalysts in inducing inflammation. Oculus was up 6 cents, or 0.8%, at $7.96.
was up 34 cents, or 1.2%, to $28.59, after it said Tuesday it filed a marketing authorization application to the European Medicines Agency for satraplatin in combination with prednisone to treat patients with metastatic hormone refractory prostate cancer who've failed prior chemotherapy.