Biotech Movers: Luminex, Exelixis, AMAG Pharmaceuticals

Shares of Luminex (LMNX) rose 14.4% to $21.65 in premarket trading on Tuesday. The Austin, Texas-based firm after the market close on Monday reported first-quarter adjusted net income of $12.16 million, or $0.28 per share, compared with $12.18 million, or $0.29 per share in the year-ago period. Consolidated revenue was $77.8 million, up 23% year-over-year.

Luminex increased its 2017 annual revenue guidance range to between $300 million and $310 million, from between $295 million and $305 million. The company said it expects revenue for the second quarter to be
between $74 million and $76 million.

Shares of Exelixis (EXEL) were up 6.1% to $24.55 after the  South San Francisco, Calif.-based firm unveiled first-quarter results after the market close on Monday. Exelixis reported net income of $16.7 million, or $0.05 per diluted share, compared with a net loss of $59.2 million, or $0.26 per share, in the same period in 2016. Revenue was $80.9 million, versus $15.4 million in the year-ago period.

The company reaffirmed previous guidance that total costs and operating expenses for the full year will be between $290 million and $310 million.

Shares of AMAG Pharmaceuticals (AMAG) were down 5.9% to $23.20. The Waltham, Mass.-based firm on Tuesday reported a first-quarter operating loss of $40 million, compared to operating income of $7.4 million in the first quarter of 2016.

"The operating loss in the first quarter of 2017 was primarily due to a one-time payment of $60 million to Palatin Technologies, Inc. related to the bremelanotide licensing transaction," AMAG said.

The company reported non-GAAP adjusted Ebitda of $57.6 million, up about 21% year-over-year. Total GAAP revenue was $139.5 million, up about 28% compared to the year-ago period.

Also on Tuesday, the company announced positive data from a phase three study of Feraheme (ferumoxytol) compared to Injectafer (ferric carboxymaltose injection) in adults with iron deficiency anemia.

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