Healthcare Stocks In The News (SQNM, VPHM, LLY, VNDA, ECYT, HALO)
Sequenom, Inc.(NASDAQ:SQNM) shares soared 8.27% to $4.32 on hefty volume, although came off session high of $4.44. This morning, raised its estimate for billings for MaterniT21 in 2012 to 40K from a previous outlook of 25K. The firm says it will increase internal production goals based on the improved outlook. The company is scheduled to report its first quarter 2012 financial results after closing of the NASDAQ Global Market on Thursday, May 3, 2012. Analysts are estimating the company to report a loss of 19 cents a share, compared to a year ago loss of 13 cents a share. Revenue is estimated to grow by 21.90% to $16.47 million, from $13.51 million a year ago.
Viropharma Inc(NASDAQ:VPHM) extended its week long losses and was recently down 4.15% to $21.09. The stock has slumped over 29% after losing its exclusivity with its Vancocin antiobiotic last week and seeing a FTC investigation against it get launched.
Eli Lilly & Co.(NYSE:LLY) was trading higher by 1.07% to $39.60 after Vanda Pharmaceuticals Inc.(NASDAQ:VNDA) will pay Eli Lilly up to $100M for exclusive rights to develop a drug that has shown promise as a treatment for alcohol addiction. The company calls the licensing of VLY-686 “an important milestone for Vanda, as we continue to realize our vision of developing treatments to address unmet medical needs.”
Endocyte, Inc.(NASDAQ:ECYT) is the biggest gainer and skyrocketed 110% after Merck & Co., Inc.(NYSE:MRK) provided worldwide rights to Endocyte for its late-stage ovarian cancer drug in a billion-dollar deal, paying $120 million upfront and committing up to $880 million in milestones. Additionally, And West Lafayette, IN-based Endocyte will also get co-promotion rights and a split of U.S. profits while earning double-digit royalties in the rest of the world.
Halozyme Therapeutics, Inc.(NASDAQ:HALO) shares plunged 24.62% to $8.50 after the FDA is requesting more information to complete its review of the HyQ Biologics License Application. The companies expect these requests to require additional time to complete and to delay the companies’ anticipated regulatory review and approval timeline.