Shares of Monogram Biosciences ( MGRM) were among the best-performing health-related stocks Monday, vaulting 38% after the maker of medical tests posted a narrower first-quarter loss and announced a collaboration agreement with Pfizer ( PFE). Monogram reported a loss of $3.4 million, or 3 cents a share, on revenue of $13.2 million. Excluding stock-based compensation costs, the company recorded a loss of $1.5 million, or 1 cent a share. Last year, the company posted a first-quarter loss of $7.4 million, or 6 cents a share, on revenue of $10 million. Excluding items, the year-ago loss was $4.1 million, or 3 cents a share. Pfizer will invest $25 million in Monogram as part of the companies' collaboration. The investment will "provide a substantial injection of capital to facilitate our continued growth and development and also represents a huge endorsement of our role as the partner of choice for companies with significant HIV development programs," Monogram said. The investment is being made through a 3% convertible note due 2010. The multi-year agreement aims to help Monogram make its HIV co-receptor Tropism assay available for patient use on a worldwide basis. Shares of Monogram were trading up 65 cents to $2.34. Integra LifeSciences ( IART) fell 4% after the medical-device maker posted soft revenue for the first quarter and offered a second-quarter revenue guidance that fell short as well. The company's first-quarter earnings were $8.7 million, or 28 cents a share, up from $8.4 million, or 26 cents a share, a year earlier. Excluding restructuring charges, Integra posted earnings of 31 cents a share. Revenue rose to $77.1 million from $65.8 million. Analysts polled by Thomson First Call expected earnings of 28 cents a share and revenue of $80.4 million. Looking ahead, Integra sees second-quarter earnings of 31 cents to 34 cents a share, excluding restructuring charges. The company predicts revenue of $87 million to $92 million. Analysts project earnings of 32 cents a share on revenue of $92.6 million. Shares were down $1.90 to $40.92.
PDI ( PDII) rose 6% after the provider of sales and marketing services to the biopharmaceutical industry named a new chief executive. Michael Marquard will replace Larry Ellberger, who had been serving as interim CEO since the fall of 2005. Marquard, who has more than 30 years of experience in the pharmaceutical industry, most recently served as vice president at Mylan Laboratories ( MYL) and president of Mylan Bertek Pharmaceuticals. Marquard's appointment is effective on May 11. PDI shares were trading up 82 cents to $13.50. Shares of Health Net ( HNT) rose 7% after the managed-health care company's first-quarter earnings topped analyst forecasts. The company earned $76.6 million, or 65 cents a share, on revenue of $3.19 billion. Analysts expected earnings of 62 cents a share and revenue of $3.19 billion. During the year-earlier quarter, the company earned $21.3 million, or 19 cents a share, on revenue of $2.91 billion. The year-earlier results included pretax charges of $67 million. Health Net sees second-quarter earnings of 61 cents to 66 cents a share, including one-time costs of $6.5 million. Analysts project earnings of 70 cents a share. For all of 2006, the company continues to forecast earnings of $2.90 to $3.10 a share, in line with the $2.99 a share that analysts project. Shares were up $2.65 to $40.79. Other health care volume movers included Pfizer, up 20 cents to $25.61; UnitedHealth Group ( UNH), down $1.22 to $45.17; Boston Scientific ( BSX), up 6 cents to $21.97; Medtronic ( MDT), down 24 cents to $48.12; Bausch & Lomb ( BOL), up $1.99 to $44.88; Amgen ( AMGN), up 79 cents to $67.90; Aetna ( AET), up 85 cents to $38.84; WellPoint ( WLP), up $1.81 to $71.82; and Johnson & Johnson ( JNJ), up 1 cent to $58.71.