Alexza Pharmaceuticals Plunges 22% (ALXA, SGYP, NVAX, WCRX, ALNY)

Alexza Pharmaceuticals Plunges 22% (ALXA, SGYP, NVAX, WCRX, ALNY)

Alexza Pharmaceuticals Inc (NASDAQ:ALXA) among the losers and the stock declined 21.90% to $0.476. Alexza Pharmaceuticals Inc has received a Complete Response Letter from the FDA regarding its New Drug Application for ADASUVE inhalation powder. The application review cycle is complete and the application is not ready for approval in its present form.

Synergy Pharmaceuticals Inc (NASDAQ:SGYP) slipped 21.44% to $4.47. The Company intends to commence a public offering of its common stock. The Company will use the net proceeds from the offering to fund its research and development activities. This will include its ongoing Phase II/III clinical trial of plecanatide and its Phase I clinical trial of SP-333.

The Company has appointed Gail M. Comer, M. D. as Chief Medical Officer with effective May 14, 2012.

Novavax Inc (NASDAQ:NVAX) jumped up 2.22% to $1.38 after the Company released first quarter results. Net loss was $7.3 million or $0.06 per share compared to net loss of $7.5 million or $0.07 per share in the first quarter of 2011. Revenue was $4.6 million compared to $0.8 million in the first quarter of 2011. The increase in revenue was primarily to revenue under the contract with the U.S. Department of Health and Human Services’ Office of Biomedical Advanced Research and Development Authority.

Warner Chilcott Plc (NASDAQ:WCRX) declined 0.79% to $21.46. The Company posted first quarter profit of $113 million or 45 cents per share compared to loss of $24 million or 10 cents per share in the prior year period. Total revenue declined 9.5% to $685 million. However, analysts were expecting earnings of 92 cents per share and revenue of $649 million.

Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) plunged 4.47% to $9.83 after the Company announced first quarter results. GAAP net loss was $11.4 million or $0.25 per share as compared to net loss of $16.3 million or $0.38 per share in the previous year period. Revenues were $20.6 million as compared to $20.9 million in the first quarter of 2011.

Needham & Company restated buy rating on the stock with a price target of $16.00.