BioDelivery Sciences Jumps On New Patent (FRX, BDSI, LNCR, MDAS, ICUI, SQNM)
Forest Laboratories Inc (NYSE:FRX) jumped 3.21% to $34.72 after the Company released fourth quarter results. Net income was $192.67 million or $0.72 per share compared to $322.48 million or $1.12 per share in the prior year period. Net sales were $996.91 million compared to $1.09 billion. The Company expects earnings per share in the range of $0.90 – $1.05 and adjusted earnings per share of $1.20 – $1.35 fiscal 2013. However, analysts estimated earnings per share of $1.11 for 2013.
BioDelivery Sciences International Inc (NASDAQ:BDSI) surged up 8.59% to $3.16. The U.S. Patent and Trademark Office has formally awarded BDSI’s patent No. 13/184306. This extends the patent protection for BDSI’s BioErodible MucoAdhesive products, BEMA Buprenorphine and BEMA Buprenorphine/Naloxone by seven years to 2027.
Lincare Holdings Inc (NASDAQ:LNCR) is up 0.04% to $24.79. The Company posted net income of $46.40 million compared to $46.37 million in the prior year period. EPS was $0.54 from $0.49 per share last year period. Revenue was $501 million compared to $431.6 million last year quarter. Lincare repurchased 1.9 million shares of its common stock for $50 million.
MedAssets Inc (NASDAQ:MDAS) soared 1.69% to $12.61. Steven A. Cohen’s hedge fund SAC Capital disclosed a 5.6% or 3,238,369 shares stake in MedAssets in a filing.
ICU Medical Incorporated (NASDAQ:ICUI) surged up 0.88% to $49.45. The Company reported first quarter of $0.53 above the analyst estimate of $0.48. Revenue for the quarter was $75.5 million versus the consensus estimate of $74.55 million.
Sequenom Inc (NASDAQ:SQNM) went up 2.32% to $4.40. The Company has extended the term of a supply agreement with Illumina Inc for the large scale-analysis of genetic variation and function.
Modigene Inc. (NYSEAMEX:PBTH) added 5.85% to $5.79 after reporting s positive pre-clinical results from an animal study for its obesity and Type II diabetes drug candidate MOD-6030.
When administered once a week over 30 days, PBTH says the treatment produced an average weight loss of 28% and a 19% reduction in blood glucose levels.
Pluristem Therapeutics Inc. (NASDAQ:PSTI) rose 5% after the FDA grants it clearance to start a Phase II clinical trials for PLX-PAD, its cell product candidate for the treatment of a subset of peripheral artery disease called Intermittent Claudication.