Shares of Myriad Genetics (MYGN) rose 14.6% to $21.40 in early trading on Wednesday. The Salt Lake City-based firm after the market close on Tuesday reported fiscal third quarter 2017 results that topped analysts' expectations.
Myriad reported adjusted earnings per share of $0.27 on revenue of $196.9 million. Analysts had forecast adjusted EPS of $0.23 on revenue of $189.1 million, according to FactSet Research Systems.
For fiscal year 2017, the company raised its revenue guidance to $763 million to $765 million from the previous range of $745 million to $755 million. Myriad narrowed its adjusted EPS guidance to $1.01 to $1.03 from the prior guidance of $1.00 to $1.05.
Shares of Spectrum Pharmaceuticals (SPPI) were down 6.1% to $7.07. The Henderson, Nev.-based firm after the market close on Tuesday reported first-quarter non-GAAP net loss of $11.4 million, or $0.14 per basic and diluted share, compared with non-GAAP net income $0.3 million, or $0.01 per basic share and less than $0.01 per diluted share, in the same period in 2016. Revenue was $29.1 million, versus $43.87 million in the year-ago period.
Among the other biotech movers was Array BioPharma (ARRY) , up 8.6% to $7.99.