24/7 Wall St. » ISPH

Long Line of Biotech Secondary Stock Offerings (MNKD, IDIX, ISPH, ARIA, ONTY, NBY, SOMX, ARNA, OXGN)

247wallst — Wed, 05 Aug 2009 17:28:47 +0000

It seems that there is another endless line of biotech and emerging pharmaceutical companies which have raised cash or have filed to raise cash. MannKind Corporation (NASDAQ: MNKD), Idenix Pharmaceuticals Inc. (NASDAQ: IDIX), and Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH) have all priced secondary offerings of common stock for close to $175 million total among all three offerings this morning alone. Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) had its pricing yesterday of a secondary offering and Oncothyreon Inc. (Nasdaq: ONTY) announced terms for a direct offering of securities. NovaBay Pharmaceuticals, Inc. (NYSE: NBY) filed this week for a capital raise.

Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), and OXiGENE, Inc. (NASDAQ: OXGN) have all filed this week with the SEC for the resale of securities by secondary offering and private placement buyers in recent weeks.

You can read the full story with details on each offering over at BioHealthInvestor.com.

And imagine this… it is only Wednesday.

-The 24/7 Wall St. Team

Posted in Biotech, Secondary Offering Tagged: ARIA, ARNA, IDIX, ISPH, MNKD, NBY, ONTY, OXGN, SOMX

The Week’s Top Biotech Movers For Next Week (TRCA, ACOR, ISPH, ONCY, PCYC, SQNM, IDEV, LGND, AUXL)

247wallst — Sat, 07 Jun 2008 06:01:00 +0000

Out of the daily movers this last week, many of the top winners and losers were from news in many of the smaller biotech stocks. We prepared a list of the winners and sinners from our daily review at BioHealthInvestor.com and gave a summary regarding the moves on each. It is becoming more obvious that many small and mid-sized biotechs are going to be gobbled up by European or Asian biotech and pharma companies seeking the dollar-discount right now.

For starters, we ran a summary of the key moving pieces out of the American Society of Clinical Oncology (ASCO). No review would be complete without it. Stocks covered: (AVAN, PFE, CELG, IMCL, DNA)

ACQUISITION NEWS
Tercica, Inc. (NASDAQ: TRCA) bites the dust as its own company the latest small cap biotech received a huge premium acquisition from a foreign buyer, with a 104% premium. FULL DETAILS

MAJOR WINNERS
Acorda Therapeutics Inc. (NASDAQ: ACOR) had a great week after it announced positive data from a second Phase III study of its Fampridine-SR for patients’ walking abilities in MS patients. FULL DETAILS

Inspire Pharmaceuticals Inc. (NASDAQ: ISPH) surged after reaching its primary endpoint in Phase III trial of Denufosol for Cystic Fibrosis. FULL DETAILS

Oncolytics Biotech Inc. (NASDAQ: ONCY) gained after the Canadian biotech’s positive Phase II studies of intravenous REOLYSIN® in patients with sarcomas metastatic to the lung. FULL DETAILS

Pharmacyclics Inc. (NASDAQ: PCYC) gained after its Phase 1/2 trial of motexafin gadolinium plus antibody targeted radiation therapy showed a high complete response rate in patients with non-Hodgkin’s lymphoma. FULL DETAILS

Sequenom Inc. (NASDAQ: SQNM) surged after it announced its progress with a non-invasive technology that detects Down syndrome. FULL DETAILS

MAJOR LOSERS
Indevus Pharmaceuticals Inc. (NASDAQ: IDEV) tanked after an FDA request should cause a two-year delay in approving NEBIDO. FULL DETAILS

MIXED REVIEW
Ligand Pharmaceuticals Inc. (NASDAQ: LGND) is one we gave a full pro and con review covering the upside of the stock and the negative side of the stock. FULL DETAILS

Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL) was a strange stock this week. The company reported great news but shares slid before the market figured out it had misinterpreted news in the company. INITIAL DETAILS

Jon C. Ogg
June 7, 2008

Pre-Market Stock News (July 18, 2007)

247wallst — Wed, 18 Jul 2007 07:15:21 +0000

(ABT) Abbott Labs $0.69 EPS vs $0.68 estimate; guidance looks soft.
(ASD) American Standard $0.84 EPS net, but $1.05 before items; estimates were $1.08. Spin-off/sale remains on track.
(BLK) Blackrock $1.80 EPS vs $1.67 estimate.
(BSC) Bear Stearns said two of its funds are virtually worthless.
(CLDA) Clinical Data priced a 3 million share secondary at $22.00 per share.
(DAL) Delta Air $0.70 EPS; generated $1.1 Billion in free cash flow.
(DJ) Dow Jones board has approved a deal with Rupert Murdoch and will meet with Bancroft family.
(INTC) Intel trading down 5% after earnings last night.
(ISPH) Inspire Pharma announced a $75 million convertible preferred financing pact with Warburg Pincus.
(ITWO) i2 Technologies lowered guidance.
(JCI) Johnson Controls $1.98 EPS vs $1.98 estimate.
(JPM) JP Morgan Chase & Co $1.20 EPS vs $1.09 estimate.
(JUPM) JupiterMedia announced a $20 million acquisition of MediaBistro.com.
(LUV) Southwest Airlines $0.25 EPS vs $0.23 estimate; revenue performance looks better than expected so far for Q3.
(MO) Altria $1.05 EPS vs $1.13 estimate.
(NITE) Knight Trading $0.24 EPS vs $0.26 estimate; announced a $500 million share buyback plan..
(ORB) Orbital $0.23 EPS vs $0.21 estimate.
(PFE) Pfizer $0.42 EPS before items vs $0.50 estimates; reaffirmed 2007-2008 targets.
(STJ) St. Jude Medical$0.45 EPS vs $0.43 estimate.
(UTX) United Technologies $1.16 EPS vs. $1.15 estimates; reaffirmed targets.
(WFMI) Whole Foods’ board of directors started an investigation into CEO John Mackey Yahoo Message Boards postings.
(YHOO) Yahoo! trading down over 5% after earnings last night. YHOO target lowered at many firms: Goldman Sachs, Piper Jaffray, Credit Suisse, Bernstein, ThinkEquity and probably more.

Jon C. Ogg
July 18, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.