Healthcare stocks were narrowly lower with the NYSE Healthcare
Sector Index slipping less than 0.1% and shares of healthcare
companies in the S&P 500 declining about 0.1% as a group.
In company news, ANI Pharmaceuticals (
) rallied Monday after narrowing its Q2 net loss and growing
quarterly revenue about 8% compared with year-ago levels.
ANIP shares were ahead about 11% in mid-day trade at $29.70
apiece, earlier rising to a session high of $31.84 a share. The
stock has a 52-week range of $5.99 to $38.74 a share, jumping over
378% over the past 12 months.
The specialty pharmaceutical company reported a Q2 net loss of
$2.4 million, or $0.21 per share, improving on a $4.6 million net
loss last year. Revenue rose 8% year over year to $6.6 million. No
analyst estimates were available for comparison.
Looking forward to the final six months of the year, ANIP is
expecting sales in a range of $28 million to $30 million. It also
is forecasting adjusted non-GAAP earnings, excluding non-cash stock
compensation expense, in a range of $0.90 to $1.00 per share.
ANIP recorded a $0.92 per share net loss, excluding discontinued
operations, on $30.1 million in revenue during the 12 months ended
Dec. 3, 2013.
In other sector news,
(+) CBMG, (+19.6%) Announces plans to acquire Agreen Biotech and
its founder's patent for $3.28 mln in cash, 753,522 shares of its
common stock and 75,000 shares of restricted stock units.
(-) INSM, (-25.2%) Discloses plans for two Phase 3 studies of
its Arikayce inhaled antibiotic treatment to treat lung infections,
likely extending the wait before the company will seek FDA approval
for the drug. Expects to file for EU nod by Dec. 31.
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