Biotech Watch List: InterMune (NASDAQ:ITMN), XOMA (NASDAQ:XOMA), Synta Pharmaceuticals (NASDAQ:SNTA), Idenix Pharmaceuticals (NASDAQ:IDIX)

Posted by on Apr 11, 2014

InterMune, Inc. (NASDAQ:ITMN) on Mar. 13 announced that it has agreed to sell 7,500,000 shares of its common stock at a price to the public of $32.75 per share in an underwritten public offering. InterMune estimates net proceeds from the offering to be approximately $233.0 million. InterMune intends to use the net proceeds from the offering to fund the commercialization activities in anticipation of the potential commercial launch of Esbriet in the United States and ongoing commercialization in Europe, to fund research and development programs with Esbriet and other compounds intended to address idiopathic pulmonary fibrosis (IPF) and other fibrotic diseases, and for general corporate purposes. Inter Mune Inc(NASDAQ:ITMN) shares after opening at $31.25 moved to $31.42 on last trade day and at the end of the day closed at $28.84. Company price to sales ratio in past twelve months was calculated as 39.84 and price to cash ratio as 7.24. Inter Mune Inc (NASDAQ:ITMN) showed a negative weekly performance of -10.93%.

XOMA Corp. (NASDAQ:XOMA) on Mar. 4 announced 2013 financial results for the fourth quarter and year ended Dec. 31, 2013. The company recorded total revenues of $35.5 million for the year ended Dec. 31, 2013, compared with $33.8 million during the same period of 2012. For the three months ended Dec. 31, 2013, XOMA recorded revenues of $12.5 million compared to $7.4 million during the corresponding period of 2012. For the year ended Dec. 31, 2013, XOMA reported a net loss of $124.1 million, or $1.43 per share, compared with a net loss of $71.1 million, or $1.10 per share, in the same period last year .XOMA Corp (NASDAQ:XOMA) shares fell -9.28% in last trading session and ended the day on $4.30. XOMA return on assets is -152.10%. XOMA Corp (NASDAQ:XOMA) yearly performance is 21.81%.

Synta Pharmaceuticals Corp. (NASDAQ: SNTA) was downgraded to Sell from Hold at Stifel Nicolaus, and BMO Capital markets also downgraded the stock to Underperform from Market Perform. Synta Pharmaceuticals Corp. (NASDAQ:SNTA) shares moved down -7.59% in last trading session and was closed at $4.14, while trading in range of $4.06 – 4.60. Synta Pharmaceuticals Corp. (NASDAQ:SNTA) year to date (YTD) performance is -20.99%.

Idenix Pharmaceuticals Inc(NASDAQ:IDIX) announced that its nucleotide polymerase inhibitor candidate, IDX21437, showed potent antiviral activity in patients suffering from hepatitis C virus (:HCV) infection. IDX21437 was well-tolerated in 44 patients infected with HCV genotype (GT) 1, 2 or 3, who did not receive any treatment previously. Idenix Pharmaceuticals Inc(NASDAQ:IDIX) weekly performance is 1.80%. On last trading day company shares ended up $5.65. Idenix Pharmaceuticals Inc (NASDAQ:IDIX) distance from 50-day simple moving average (SMA50) is -16.68%. Analysts mean target price for the company is $5.40.

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