Top Losers Healthcare: Onconova Therapeutics (NASDAQ:ONTX), Prana Biotechnology Limited (NASDAQ:PRAN), Cytokinetics (NASDAQ:CYTK), Cryolife (NYSE:CRY)

Posted by on Feb 21, 2014

Onconova Therapeutics Inc (NASDAQ:ONTX) the $214 million market capped development stage drug firm Onconova Therapeutics Inc (NASDAQ:ONTX) reported updates on its phase 3 tests on its drug target Rigosertib on 19thFebruary. The drug has been positioned as a antidote for patients who are suffering from Higher Risk Myelodysplastic Syndromes (MDS). Onconova Therapeutics Inc (NASDAQ:ONTX) stock opened at $8.23 in last session, and closed at $8.79, while the day range of ONTX stock is $7.75-$8.87.The stock showed a negative weekly performance of -35.18%.

Shares of Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) jumped significantly, almost touching 40 percent following announcement by the company that its experimental drug for brain disorder succeeded in the mid-stage trial. The drug is targeted at treating Huntington’s disease. Particularly, the drug met safety and tolerability goals during the study as was required. The drug could end up generating more than $500 million sales annually if approved. Currently the only drug approved for the treatment of Huntington’s disease called Xenazine recorded sales of $220 million in 2012. Thus, it means that PRAN’s drug has a higher revenue potential than the existing therapy. Besides shares of Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) jumping significantly on Nasdaq, a high volume of shares exchanged hands than normal average in the previous session.  Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) stock opened at $8.36, in last session and closed at $8.07, by loosed -7.88%.The 52 week range was $2.10-$13.29.Company’s market capitalization is $328.78 million.

Cytokinetics, Inc. (NASDAQ:CYTK) will carry out an initial public offering expected to raise a total of $35 million at the back of 4.3 million shares of its common stock that is expected to go public at a share price of $8. Cytokinetics has also granted a 30 day period for any underwriters who would wish to purchase an addition 656,250 shares of its common stock. Cytokinetics, Inc. (NASDAQ:CYTK) stock loosed -5.69% and finished the last session at $9.29.The EPS of the stock remained -1.33.Company’s market capitalization is $274.08 million.

Issued an update on its FY14 earnings guidance on thursday morning. The CryoLife Inc. (NYSE:CRY) provided earnings per share (EPS) guidance of $0.21-0.24 for the period, compared to the Thomson Reuters consensus estimate of $0.38, Analyst Ratings News reports. The company issued revenue guidance of $146-150 million, compared to the consensus revenue estimate of $152.01 million. Cryolife Inc (NYSE:CRY) stock opened the session at $9.60, and closed the session at $9.41.The 52 week range of the CRY stock remained $5.52-$12.14 and the day range was $8.64-$10.05.

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