Biogen Idec Inc (NASDAQ:BIIB) and Gilead Sciences Inc. GILD were among the biotech stocks that slumped during the past week, falling 7.7% and 4.9%. Investors yanked money out of biotech and health-care funds at the heaviest pace of weekly outflows since December 2011. Biogen Idec Inc (NASDAQ:BIIB) stock opened today at $ 311.02 and is currently trading at $ 310.39. The stock showed a positive weekly performance of 3.76%.
Smith & Nephew plc (ADR) (NYSE:SNN) the medical technology business, Thursday said it has agreed to acquire Adler Mediequip Private Limited and with it, the brands and assets of Sushrut Surgicals Private Limited, a leader in mid-tier, orthopaedic trauma products for the India market, for an undisclosed sum. Smith & Nephew plc (ADR) (NYSE:SNN) stock opened at $ 82.27, in current trading session and currently is at $ 83.03, by gaining 3.35%. The 52 week range of $ 55.22 – $ 83.10. Company’s market capitalization is $ 14.84 billion.
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) announced that it has completed patient enrollment in the second cohort of an ongoing phase II study on PSMA ADC for the treatment of prostate cancer. The company enrolled 36 chemotherapy naive patients suffering from prostate cancer, whose disease had progressed after hormonal therapies. Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) stock is currently trading at $ 3.90. The EPS of the stock is -0.70. Company’s market capitalization is $ 271.69M.
Shares of GTx, Inc.(NASDAQ:GTXI) shot up 12% to $3.48 Tuesday on news that the U.S. Food and Drug Administration is allowing the company to proceed with a Phase II clinical trial for its drug Capesaris in the treatment of prostate cancer. The FDA temporarily halted testing in February on concerns the product could be contributing to blood clots in certain patients. In related news, GTx reported a widened quarterly loss of $11 million, compared to $2.6 million for the previous year’s quarter. Revenue fell to $1.8 million from $9.3 million, due in part to the termination of a collaboration agreement with Ipsen in March 2011. GTx, Inc. (NASDAQ:GTXI) stock opened the session at $ 1.44, and now is at $ 1.56. The 52 week range of the GTXI stock remained $ 1.26 – $7.24 and the day range was $ 1.44 – $1.57.
CytRx Corporation (NASDAQ:CYTR) has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, CYTRX CORP reported poor results of -$0.91 versus -$0.84 in the prior year. This year, the market expects an improvement in earnings (-$0.64 versus -$0.91). CytRx Corporation (NASDAQ:CYTR) stock opened today at $ 4.27 and is currently trading at $ 4.11. The stock showed a positive weekly performance of 7.87%.
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