Posts related to ‘Medical’

AGA Medical Debuts During Cautious IPO Market (AGAM)

Money ImageIt was just over the weekend that we noted how cautious the initial public offering market has become.  What a difference a couple months can make.  Today marks the debut of AGA Medical Holdings, Inc. (NASDAQ: AGAM).  The medical devices maker for the treatment of structural heart defects and vascular diseases priced its IPO of 13.75 million shares of common stock at $14.50 per share.  This is a poor pricing, but as of 11:00 AM EST this IPO is still trading just above its pricing.
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Posted on: October 21, 2009 – 11:02 am in IPOs, Medical,

3 More IPOs This Week Enter Troubled Waters (AGAM, DOLE, ZSTN)

Money ImageThe IPO market has not been going well. Over the weekend we gave a detailed run down of how many busted IPOs we had seen occur in the last couple of months, and this is setting the market up for trouble in companies which are considering becoming public.  AGA Medical Holdings (NASDAQ: AGAM), Dole Food Company (NYSE: DOLE), and ZST Digital Networks, Inc. (NASDAQ: ZSTN) are all on deck this week.
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Posted on: October 20, 2009 – 2:32 pm in Food, IPOs, Medical, Technology Companies, , ,

Palomar Dumped by J&J (PMTI, JNJ)

Burning Money PicPalomar Medical Technologies Inc. (NASDAQ: PMTI) is getting hit very hard.  The company issued a press release saying “Palomar to Commercialize FDA Cleared Over-The-Counter Home Use Wrinkle Treatment Laser Device Without Johnson & Johnson.”  It turns out that Johnson & Johnson (NYSE: JNJ) dumped Palomar, just like a bride not showing up to an engagement party.
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Posted on: October 16, 2009 – 10:16 am in Medical, Trading Alert, ,

Specter of MRI Disease Haunts GE

bearby Jeff Gerth, ProPublica

In May 2006, medical regulators in Denmark issued a warning that signaled trouble for General Electric (NYSE:GE). Danish researchers noted that, over a four-year period, 25 patients in Denmark and Austria had suffered a rare and crippling disease after undergoing an MRI, the scanning procedure used to diagnose everything from brain tumors to blown knees. The patients had been injected with a GE dye that makes images more distinct. They all had weak kidneys before receiving the dye.  Read More »

Posted on: October 15, 2009 – 6:45 pm in Medical,

Is Sequenom Dead? (SQNM)

Sequenom Inc. (NASDAQ: SQNM) is becoming a case study on how to run a medical testing products company into the ground.  The diagnostic test maker has more problems other than just the announcement that it fired CEO Harry Stylli and several others after an investigation into the results for its Down syndrome blood test.  This was supposed to be the Holy Grail for Down testing, and we still lack a full understanding of what happened.

Board member Harry Hixson will fill in as Sequenom’s interim CEO, and board member Ronald Lindsay will take over as interim CFO and controller.  Elizabeth Dragon was senior vice president for research and development, but she is out as well and you have to ask yourself how great a company without a head of R&D can be. Three other employees were fired, and Paul Hawran “resigned” on Friday with another executive. Sure he resigned.
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Posted on: September 30, 2009 – 5:32 am in Biotech, Healthcare, Law, Management Change, Medical, SEC

Still No Death Blow for Insurers (AET, HUM, UNH)

Bull and Bear ImageThe Obama speech to a joint session of Congress last night did not exactly deliver the death blow to health insurers.  It also did not give the insurers the keys to the palace.  Despite the call for an exchange and the notion of a public option still being included, there was a backdoor left open for this to be in regional markets where there is limited competition.  There are other potential workarounds that need to be met, and the real wild card is going to be over new entrants in pre-existing conditions.  So far we are seeing a positive move in top health insurers like Aetna Inc. (NYSE: AET), Humana Inc. (NYSE: HUM), and UnitedHealth Group, Inc. (NYSE: UNH).
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Posted on: September 10, 2009 – 10:31 am in Healthcare, Medical, Politics, , ,

Emdeon IPO: Healthcare Reform Beneficiary (EM)

money-stack-imageEmdeon Inc. (NYSE: EM) is today’s ‘other’ initial public offering.  The company priced 23,700,000 shares of its common stock at a price of $15.50 per share. Not all proceeds are going back into the company: 10,725,000 shares were offered by Emdeon itself and 12,975,000 were offered by selling stockholders.  This is essentially nothing short of a health care reform play which saw a boost in shares and a top-end of the range pricing.
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Posted on: August 12, 2009 – 9:56 am in Healthcare, IPOs, Medical,

The War On Diabetes Heats Up (NVO, AMLN, LLY, MNKD, PFE, VVUS, BMY, AZN, ARNA, GERN, STEM, OREX, GNBT, SPEX, ORMP, HDIX, PODD)

Biotech ImageDiabetes is becoming an epidemic in the U.S. and the Western World.  The ties to obesity are often direct, so the potential treatments are often directly tied as well.  We did a recent dig down for the next $170 billion opportunity for eight different major diseases and conditions, and now we have conducted a much deeper dig down specifically in the field of diabetes over at BioHealthInvestor.com.  We have recent and upcoming FDA action and data being presented from Novo Nordisk (NYSE: NVO), MannKind Corp. (NASDAQ: MNKD), Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN), Eli Lilly (NYSE: LLY), Alkermes Inc. (NASDAQ: ALKS), Bristol-Myers Squibb (NYSE: BMY) and AstraZeneca (NYSE: AZN).  There is a mini-race going on between some of the later stage studies from obesity and diabetes candidates from Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), VIVUS, inc. (NASDAQ: VVUS), Orexigen Therapeutics, Inc. (NASDAQ: OREX) and Amylin Pharmaceuticals Inc. (NASDAQ: AMLN).  Geron Corporation (NASDAQ: GERN) and StemCells Inc. (NASDAQ: STEM) were noted as two of the stem cell hopes, although stem cells may later rather than sooner.

Generex Biotechnology Corporation (NASDAQ: GNBT), Spherix Incorporated (NASDAQ: SPEX) and Oramed Pharmaceuticals Inc. (OTCBB: ORMP) were all noted in the much smaller or emerging plays.  Home Diagnostics, Inc. (NASDAQ:HDIX) and Insulet Corporation (NASDAQ: PODD) have both recently had key events as the interest in test equipment companies continues to remain high.

FULL STORY with much more detail at BioHealthInvestor.com.

Posted on: August 10, 2009 – 10:56 am in Biotech, Drug companies, FDA, Healthcare, Medical, , , , , , , , , , , , , , , , ,

IPO FILING: Addus HomeCare Corporation (ADUS)

Addus HomeCare Corporation has filed to come public via an initial public offering.  The company has taken the “ADUS” as the tentative ticker for a NASDAQ listing and the filing shows an equity offering for up to $69,000,000 in common stock.  Addus is a home healthcare company.  Jefferies & Company is the lead underwriter, and Robert W. Baird & Co. is listed as the sole co-manager.

The company provides a broad range of social and medical services in the home in personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care.  Customers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled.  Its “payor clients” include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals.  Addus has more than 120 locations across 16 states to over 23,000 consumers.

Net service revenues were $236.3 million in 2008, up 21.5% from $194.6 million in 2007.  Its home & community net service revenues in 2008 were $189.0 million, about 80% of its total net service revenues. State and local government programs accounted for 96.9% of home & community net service revenues, with the balance derived from commercial insurance programs and private individuals (private duty consumers).

JON C. OGG
JULY 17, 2009

Posted on: July 17, 2009 – 12:40 pm in IPOs, Medical,

Health Net’s Major Loss.. Likely Lesson For All Insurers (HNT, HUM, AET, UNH)

Burning Money PicHealth Net Inc. (NYSE: HNT) is one of today’s worse performers on the heels of losing its Pentagon health insurance contract.  The Pentagon picked Aetna Inc. (NYSE: AET) and UnitedHealth Group Inc. (NYSE: UNH) for its Tricare health program  for members of the armed forces, their families, and survivors.  They will replace Humana Inc. (NYSE: HUM) and Health Net Inc. in 2010.  There is an interesting take here, and it is one that all large health care insurers serving federal and local governments should pay close attention to now that the Administration is on the attack in the field of health care insurance.
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Posted on: July 14, 2009 – 11:42 am in Medical, Politics, , , ,

J&J’s Earnings Win Muted By Currency Impact (JNJ)

DJIA component Johnson & Johnson (NYSE: JNJ) has come out with earnings slightly ahead of estimates.  The medical and consumer products giant posted $1.15 EPS vs $1.11 estimates and revenues were down 7.4% to $15.2 billion vs. 15.02 billion estimates.  Currency was another drag on the company.
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Posted on: July 14, 2009 – 6:56 am in Consumer Goods, Earnings, Medical,

Biotech & BioHealth Business Daily (PFE, MRK, BAX, BDSI, SPPI, GNBT, AVII, CEGE, BBH, GILD, LLY, SNY, BMY, OSIP)

Here are some of today’s top stories affecting key drug and biotech stocks, accompanied with links through to more detailed information and analysis at BioHealthInvestor.com:

New short-interest data suggest traders are now increasing their directional bets against biotech stocks. Pfizer Inc. (NYSE: PFE) and Merck & Co. (NYSE: MRK) are in the top 10 of all large-cap stocks with the greatest increase in the number of shares shorted.

Eli Lilly has the FDA’s OK to market its Effient blood thinner, but the black-box warning on its label is so strong that it’s hard to believe it can dent the market share of the Sanofi Aventis (NYSE: SNY)/ Bristol Myers Inc. (NYSE: BMY) drug Plavix.

OSI Pharmaceuticals Inc. (Nasdaq: OSIP) announced new data from its Phase III Saturn study of Tarceva, and it’s likely an incremental positive for the cancer drug over rival Eli Lilly & Co.’s (NYSE: LLY) drug Altima.

-The 24/7 Wall St. Team

Posted on: July 13, 2009 – 10:25 am in Biotech, Drug companies, Medical, , , , , , , , , , , , , ,

Healthcare: Another Scheme To Tax The “Rich”

uncle samHaving money is not what it used to be. According to several media reports, the billionaire mayor of New York City, Michael Bloomberg, lost millions of dollars in the market downturn. He has apparently had to lay off some of his private staff and rent out his vacation home in Wellington, Florida.

Now that the well-to-do have lost hundreds of billions of dollars in the stock and real estate markets, the Congress appears ready to call on them to fund the new health care reform package. Read More »

Posted on: July 11, 2009 – 7:26 am in Economy, Healthcare, Medical, Pharmaceuticals

Biotech Business Daily (RIGL, BIIB, ARRY, ALNY, FOLD, HALO, AOB, STEM)

Here are some of the top stories affecting key drug and biotech stocks that have links through to more in-depth coverage and analysis today at the website BioHealthInvestor.com:

Rigel Pharmaceuticals Inc.’s (NASDAQ: RIGL) Phase IIb trial results Thursday morning of its rheumatoid arthritis candidate R788, is boosting its stock on speculation it may help the company attract a clinical partner.

Biogen Idec Inc. (NASDAQ: BIIB) is enjoying a second day of gains after its new PEGylated interferon beta-1a (BIIB017) for relapsing multiple sclerosis (RMS) received an FDA Fast Track designation.  This might be a game-changing event for the company with some risks as well.

Array BioPharma Inc. (Nasdaq: ARRY) now says it will discontinue development of ARRY-797 in chronic inflammatory diseases. Attention may now turn to Array’s ARRY-162, another anti-inflammatory that showed much more promising efficacy.

Also, see our in-depth feature this week on five fast-growing biotechs with improving analyst estimates: Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY), Amicus Therapeutics Inc. (Nasdaq: FOLD), Halozyme Therapeutics Inc. (Nasdaq: HALO), American Oriental Bioengineering Inc. (NYSE: AOB), and Stemcells Inc. (Nasdaq: STEM).

-The 24/7 Wall St. Team

Posted on: July 9, 2009 – 11:09 am in Biotech, Drug companies, FDA, Medical, , , , , , , ,

BioHealth Business Daily (AMGN, NVS, AMLN, LLY, ALKS, NVO, LLY, VICL, SCLN, ARNA)

These are some of the top stories affecting key drug and biotech stocks that are covered with more in-depth details and analysis this morning at BioHealthInvestor.com:

Amgen Inc’s (Nasdaq: AMGN)’s osteoporosis drug did so well in a head-to-head Phase III trial vs. the current standard drug from Novartis Inc. (NYSE:  NVS) that the Amgen’s drug may become the new standard for patients with breast cancer.

Amylin Pharmaceuticals Inc. (Nasdaq: AMLN), along with partners Eli Lilly & Co. (NYSE: LLY) and Alkermes Inc. (Nasdaq: ALKS), announced its new drug application for a once-weekly version of Byetta will be reviewed by the FDA, which may  help invigorate growth for the franchise.

Vical Inc. (Nasdaq: VICL) announced a positive four-month interim analysis for what is arguably its second-largest market opportunity, taking potentially another small step toward the goal of attracting a partner for its herpes vaccine program.

SciClone Pharmaceuticals Inc. (Nasdaq: SCLN) shares are down more than 7 percent on revenue and secondary offering fears. And Arena Pharmaceuticals Inc. (Nasdaq: ARNA) shares are falling after another dilutive offering.

Also, see our in-depth feature this week on five of the fastest-growing biotechs with improving analyst estimates: Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY), Amicus Therapeutics Inc. (Nasdaq: FOLD), Halozyme Therapeutics Inc. (Nasdaq: HALO), American Oriental Bioengineering Inc. (NYSE: AOB), and Stemcells Inc. (Nasdaq: STEM).

-The 24/7 Wall St. Team

Posted on: July 8, 2009 – 9:47 am in Biotech, Drug companies, FDA, Medical, , , , , , , , ,

BioHealth Business Daily (CI, AET, MYL, JAZZ, PTIE, GSK, ALNY, FOLD, HALO, AOB, STEM)

Here are some of the top stories affecting key drug and biotech stocks that are covered in-depth today at BioHealthInvestor.com:

Cigna corp. (NYSE: CI), Aetna Inc. (NYSE: AET), and other managed care companies are rising despite making health care reform concessions, as shareholders see they have a seat at the bargaining table.

Mylan Inc. (NASDAQ: MYL) has received FDA approval for a generic version of an AstraZeneca (AZN) prostate cancer drug — a rather unusual new generic.

Jazz Pharmaceuticals Inc. (Nasdaq: JAZZ) shares are up more than 25 percent after the company took steps to ease a cash crunch that had curtailed drug development.

King Pharmaceuticals (KG) and Pain Therapeutics (PTIE) said  they expect to resubmit a new drug application in mid-2010, slightly later than anticipated.

GlaxoSmithKline (NYSE: GSK) announced a positive study on its Cervarix vaccine, although it’s unclear if the company can play catch-up to Merck & Co.’s (NYSE: MRK) Gardasil.

See our in-depth feature this week on five fast-growing biotechs with improving analyst estimates: Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY), Amicus Therapeutics Inc. (Nasdaq: FOLD), Halozyme Therapeutics Inc. (Nasdaq: HALO), American Oriental Bioengineering Inc. (NYSE: AOB), and Stemcells Inc. (Nasdaq: STEM).

-The 24/7 Wall St. Team

Posted on: July 7, 2009 – 11:03 am in Biotech, Drug companies, FDA, Medical, Trading Alert, , , , , , , , , , ,

Hansen Medical Credibility As Weak As The Stock (HNSN, ISRG)

Burning Money PicHansen Medical Inc. (NASDAQ: HNSN) is becoming the Boulevard of Broken Dreams in the land of speculative medical instrument stocks.  We gave a volume spike alert at VSInvestor.com on this one, but this situation goes much deeper now.  The maker of The Sensei® robotic catheter systems guided second-quarter revenues lower and withdrew previous system placements guidance.  While the company cited delays in purchases by customers, it is becoming a serious question (actually, it has been a serious question for a while) as to whether or not this is a real company with a solid future or if its basis is hype around its founders and nothing more.
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Posted on: July 7, 2009 – 7:50 am in Earnings Warning, Medical, Trading Alert

The Best Short-Selling Opportunities Of The Year (C)(GE)(F)(SBUX)(SIRI)

angrybearThere is still some conversation about the federal government restricting short-selling activity in certain stocks. The counterargument to these restrictions is that short selling plays an important role in the valuation of securities by efficiently allowing investors to bet that a stock will fall as readily as they can bet that it will rise. Short sellers have the reputation, whether deserved or not, for trying to manipulate information about public companies with the hope of driving their prices down. That may be true.

24/7 Wall St. has come up with a list of the best short-selling opportunities between now and the end of the year. The list was chosen based on: 1) trading volume, 2) the total short position in the stock over the first half of the year, 3) a history of the short position in these stocks rising or falling rapidly, and 4) stocks in companies that tend to move on news throughout the year and not just on earnings information. Read More »

Posted on: July 5, 2009 – 5:54 pm in Airlines, Analyst Calls, Autos, Banking, Biotech, Casinos, Conglomerates, Consumer Electronics, Dividend, Drug companies, Editor's Picks, FDA, Green Biz, Hardware, Healthcare, Infrastructure, Internet, Large Cap Stocks, Medical, PC Companies, Pharmaceuticals, Private Equity, Retail, Short Interest, Software, Technology, Turnarounds, Wireless, , , , , , , , , , , , , , , , , , , ,

UnitedHealth’s Lofty Ambition: $332 Billion in Healthcare Savings (UNH)

Money Stack ImageUnitedHealth Group, Inc. (NYSE: UNH) has listed a very lofty plan for how to reach the healthcare savings for America, which of course will include a private/public system.  It may sound lofty, but the company is putting out a report arguing technology can streamline the administrative processes and can create a potential savings of some $332 billion over the next decade.   This is a topic that spans healthcare to law, and politics.
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Posted on: June 30, 2009 – 11:32 am in Business Services, Financial Stocks, Law, Medical, Politics,

GE Taking Decisive Step Into Stem Cells (GE, GERN, STEM, ASTM)

GE LogoGeneral Electric Company (NYSE: GE) is taking a bold and controversial new step into the field of embryonic stem cell research.  The company has signed an exclusive license and alliance pact with Geron Corporation (NASDAQ: GERN) to develop and commercialize cellular assay products derived from human embryonic stem cells for use in drug discovery, development and toxicity screening.  As noted over at BioHealthInvestor.com, this may have implications for other stem cell stocks such as StemCells Inc. (NASDAQ: STEM), Aastrom Biosciences, Inc. (NASDAQ: ASTM) and others.
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Posted on: June 30, 2009 – 9:17 am in Biotech, Conglomerates, Drug companies, Law, Medical, Politics, , , ,