Healthcare Business Recap: Carefusion and Cambrex Climb on Good News
Shares of Synergy Pharmaceuticals (SGYP) go into the abyss, following the pharma’s announcement that it intends to offer 10 million common stock shares to finance its research and development activities, which include clinical trials of its plecanatide and SP-333 treatments for gastrointestinal disorders. The shares will go for $4.50 a pop.
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Bad news from the FDA send shares of Alexza (NASDAQ:ALXA) down almost 20 percent at the close on Friday. The agency won’t approve its new drug application for Adasuve, a schizophrenic and bipolar disorder treatment, until a deficiency is resolved at a manufacturing facility for the application..
CareFusion’s (NYSE:CFN) fiscal third quarter results that beat consensus, that were announced late Thursday push its shares into the black on Friday. Even though net earnings dropped 31 percent year-to-year due to loses arising from the disposal of one of its sold units, adjusted profit moved forward on double-digit revenue growth in its dispensing, infusion and respiratory segments.
A Closer Look: CareFusion Earnings Cheat Sheet>>
Shares of Life Sciences research firm Cambrex (NYSE:CBM) react well to late Thursday’s first quarter figures, in which Street consensus was handily exceeded. Sales of controlled substances and generic active pharmaceutical ingredients provided a 14 percent year-to-year rise in overall revenue, and Cambrex also elevated sales projections for its fiscal year 2012, which now point to an increase in sales of between 2 and 6 percent year-over-year.
Yet another first quarter release late Thursday moved shares of AMN Healthcare Services (NYSE:AHS) up, following word that the numbers beat the estimates. Revenue from AMN’s travel nurse unit grew 5 percent year-to-year, and Baird says that the upwards trend is just starting to move, as it raises to Outperform.
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