Below is a list of the companies that made news in the healthcare sector on Monday, January 25, 2010.
After the bell on Monday shares of Matrixx Initiatives, Inc. (Nasdaq: MTXX), an over-the-counter healthcare company that develops and markets Zicam® products were up over 11% as the company announced financial results for its fiscal third quarter and nine months ended December 31, 2009. Third quarter revenue decreased 26% to $28.5 million compared to $38.7 million for the comparable quarter in the prior year. The Company reported net income for the quarter of $3.8 million, or $0.41 per diluted share, compared to net income of $4.8 million, or $0.50 per diluted share, for the quarter ended December 31, 2008.
The decreased sales in the quarter ended December 31, 2009 versus the prior year is primarily attributable to the previously announced loss of nasal Cold Remedy products, which were withdrawn from the market in June 2009. Nasal Cold Remedy sales accounted for approximately 40% of net sales in the prior fiscal year. Partially offsetting the loss of nasal Cold Remedy sales was a 62% increase in oral Cold Remedy unit sales in the quarter ended December 31, 2009 over the quarter ended December 31, 2008.
In June of last year, the company voluntarily withdrew two of its nasal cold remedy products after the U.S. Food and Drug Administration issued a warning letter that the products could cause a loss of smell.
News from earlier in the day:
Abiomed, Inc. (NASDAQ: ABMD), a leading provider of breakthrough heart support technologies, today announced the webcast of a Impella® 2.5 procedure featuring new product enhancements at Mount Sinai Medical Center.
Acorda Therapeutics, Inc. (Nasdaq: ACOR) announced today that Lauren Sabella has joined the Company as Executive Vice President, Commercial Development, reportingto Ron Cohen, M.D., President and Chief Executive Officer. Ms. Sabella will have responsibility for Acorda’s commercial operations, including Marketing, Sales and Managed Markets.
Array BioPharma Inc. (Nasdaq: ARRY) will report financial results for the second quarter of fiscal 2010 on Monday, February 1, 2010, and will hold a conference call on Tuesday, February 2, 2010 at 9:00 a.m. Eastern Time to discuss these results. Robert E. Conway, Chief Executive Officer, and Michael Carruthers, Chief Financial Officer, will lead the call.
Assured Pharmacy, Inc. (Pink Sheets: APHY), announced today that same store sales increased 12.3% for the fiscal year 2009 compared to 2008.
BioScrip, Inc. (Nasdaq: BIOS) today announced it has signed a definitive agreement to acquire Critical Homecare Solutions (“CHS”), a leading provider of home infusion and home health agency services to patients suffering from chronic and acute medical conditions.
Bristol-Myers Squibb Company (NYSE: BMY) today announced that on 20 January 2010, the European Commission approved ORENCIA® (abatacept) in combination with methotrexate for the treatment of moderate to severe active polyarticular juvenile idiopathic arthritis (pJIA) in paediatric patients six years of age and older who have had an insufficient response to other DMARDS, including at least one TNF inhibitor.
Cannabis Science Inc. (NASD OTCBB: CBIS), an emerging pharmaceutical cannabis company, released updates to its website today. The website cannabisscience.com now integrates its general public communications with recent and future developments in its analytical lab work, clinical research, and commercial production division that are in the process of formalizing the agreements with all the necessary contractors in order to move forward with its medical cannabis clinical trails.
Charles River Laboratories International, Inc. (NYSE: CRL) announced today that it will present at the Jefferies 2010 Global Healthcare Services Conference in New York on Wednesday, January 27th, at 10:45 a.m. ET. Management will present an overview of Charles River’s strategic focus and business developments.
Emergent BioSolutions Inc. (NYSE: EBS) announced today it will report financial results for fourth quarter and full year 2009 on Thursday, March 4, 2010, after market close.
iMedicor (OTCBB: VMCI) today announced that it has entered into a strategic alliance with MedTrust Online, a portal that helps cancer doctors practice the most precise medicine for their patients by linking them with the latest diagnostic and treatment strategies.
Instacare Corp. (OTC Bulletin Board: ISCR), a leading provider of prescription drugs, home testing products for the chronically ill, a leading fulfillment provider of direct to patient diabetes programs, and a leading developer of revolutionary cell phone centric e-health products and technologies, today announced the successful completion of the 2010 and 2011 guidance report prepared by William N. Walling, CFA.
IsoRay, Inc. (AMEX: ISR) announced today that it has successfully shipped the first set of Cesium-131 brachytherapy seeds to a Canadian customer for the purpose of furthering research and development of Cesium-131 in Canada.
La Jolla Pharmaceutical Company (NASDAQ: LJPC) today announced that it received a delisting notice from the Nasdaq Stock Market LLC on January 19, 2010.
MannKind Corporation (Nasdaq: MNKD) will release its 2009 fourth quarter and full year financial results on Monday, February 1, 2010.
Matrixx Initiatives, Inc. (Nasdaq: MTXX), an over-the-counter healthcare company that develops and markets Zicam® products, today announced financial results for its fiscal third quarter and nine months ended December 31, 2009.
Millipore Corporation (NYSE:MIL), a leading provider of technologies, tools and services for the global life science industry, today announced the launch of a new product from its ground-breaking collaboration with Roka Bioscience to develop faster, more robust tests for contaminants in pharmaceutical and biotechnology manufacturing.
NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), reports that TheraCour Pharma, Inc. (TheraCour®), a major shareholder of the Company, completed its programmed sale of shares of NanoViricides, Inc, in December, 2009.
Osiris Therapeutics, Inc. (NASDAQ:OSIR) today announced that it has achieved a $750,000 milestone payment from the Juvenile Diabetes Research Foundation (JDRF) for completing enrollment in a Phase II clinical trial evaluating Prochymal, an adult mesenchymal stem cell (NYSEARCA:MSC) therapy, as a treatment for patients recently diagnosed with type 1 diabetes.
Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today announced that it has signed its fourth research and development agreement with Otsuka Pharmaceutical Co., Ltd. of Japan for Penwest to develop a formulation of an undisclosed Otsuka compound utilizing Penwest's TIMERx® drug delivery technology. Under the terms of the agreement, Penwest will receive undisclosed fees and payments.
PPD, Inc. (Nasdaq: PPDI) will release its fourth quarter and full-year 2009 financial results on Monday, February 8, 2010, after the market closes.
Regulus Therapeutics Inc., Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) and Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) announced today that the United States Patent and Trademark Office (USPTO) has allowed claims in a patent application derived from the "Tuschl III" patent series that is assigned to Max Planck.
Spectrum Pharmaceuticals (NasdaqGM: SPPI), a commercial-stage biotechnology company with a primary focus in oncology, today announced that it has met with the FDA regarding it’s supplemental New Drug Application (sNDA) for FUSILEV® (levoleucovorin) for injection for the treatment of patients with advanced metastatic colorectal cancer.
Telik, Inc. (Nasdaq: TELK) today announced the initiation of a Phase 1 clinical study to evaluate ezatiostat hydrochloride (TELINTRA, TLK199) tablets in combination with lenalidomide (Revlimid) in patients with Myelodysplastic Syndrome (NYSE:MDS).
Threshold Pharmaceuticals, Inc. (Nasdaq:THLD) today announced clinical trial results related to Threshold's clinical stage hypoxia-activated prodrug, TH-302. The results were presented at the 2010 Gastrointestinal Cancers Symposium that took place in Orlando, Florida from January 22 to 24, 2010.
The clinical trial is a Phase 1/2, three arm, multicenter, dose escalation and dose expansion trial to determine the safety, efficacy and pharmacokinetics of TH-302 in combination with gemcitabine or docetaxel or pemetrexed in patients with advanced solid tumors. The results of the trial discussed only those patients who were treated for gastrointestinal cancer which included but were not limited to cancers of the pancreas, colon and bile duct.
Virtual Radiologic Corp. (NASDAQ: VRAD), a leading provider of virtual radiology services and technology solutions, today reported financial results for its fourth quarter and full year ended December 31, 2009.
Disclosure: No positions