Sunesis Pharmaceuticals Jumps On Earnings (PSTI, ACHN, SNSS, AMLN, ZGNX)
Pluristem Therapeutics Inc (NASDAQ: PSTI) surged up 3.12% to $2.94. The Company announced that cardiac function in a diabetic-induced diastolic dysfunction in animals improved following PLacental eXpanded administration. The study was conducted as part of the European Commission’s Seventh Framework Program in collaboration with Professor Doctor Carsten Tschope and his staff at the Charite Universitaetsmedizin Berlin.
Achillion Pharmaceuticals Inc (NASDAQ:ACHN) increased 2.90% to $7.09. The Company announced the receipt of a Fast Track designation from the U.S. Food and Drug Administration for ACH-3102 as part of an interferon-free regimen for the treatment of chronic hepatitis C. ACH-3102 is a pan-genotypic second-generation NS5A inhibitor against HCV that was discovered by Achillion and is currently being evaluated in a Phase 1 clinical trial.
Sunesis Pharmaceuticals Inc (NASDAQ:SNSS) went up 9.74% to $2.91. The Company reported first quarter EPS of ($0.30), below the analyst estimate of ($0.18). Revenue for the quarter was $0 versus the consensus estimate of $90 thousand.
The Company announced $25.0 million vosaroxin royalty agreement with Royalty Pharma in March.
Amylin Pharmaceuticals Inc (NASDAQ:AMLN) increased 5.77% to $27.13. Amylin Pharmaceuticals Inc has lured suitors such as Pfizer Inc, AstraZeneca Plc and Sanofi that signed confidentiality agreements on the Company’s sale process. The Company is seeking a buyer following its rejection of an unsolicited offer from Bristol-Myers.
Zogenix Inc (NASDAQ:ZGNX) soared 2.17% to $1.89 after the Company released first quarter results. Net loss was $10.3 million or $0.16 per share compared to net loss of $19.0 million or $0.56 per share in the prior year period. The analysts expected the Company to lose $0.14 per share for the quarter. Total revenues were $18.3 million compared to $9.0 million in the prior year quarter. However, analysts expected revenues of $17.14 million. The Company expected total revenues to be between $45.5 million and $48.5 million for fiscal year 2012.