Healthcare stocks were mixed with the NYSE Healthcare Sector
Index declining 0.1% and shares of healthcare companies in the
S&P 500 rising 0.2% as a group.
In company news, AcelRx Pharmaceuticals Inc. (
) was trading higher Friday after Q1 revenue for the drugmaker
nearly evaporated compared with year-ago levels although its
per-share net loss managed to edge out the analyst consensus.
The company reported a net loss of $9.6 million, or $0.22 per
share, during the three months ended March 31, improving on a $12.4
million net loss last year and topping the Capital IQ Consensus
Estimate by $0.02 per share.
Revenue tumbled 89% from year-ago levels to just $95,000,
reflecting recognition of previously deferred revenue under a
collaboration agreement with Grunenthal. Analysts, on average, were
looking for ACRX to generate around $70,000 in Q1 revenue.
ACRX ended the quarter with around $92.9 million in cash and
equivalents, down about $10.8 million the end of the prior quarter.
The company said it has enough resources on hand to fund operations
through 2015 at a minimum.
Shares were up 0.3% at $9.82 each, reversing an earlier skid
that dropped the stock to a session low of $9.50 a share. The stock
has a 52-week range of $6.03 to $13.64 a share, gaining 59.7% over
the past 12 months.
In other sector news,
(+) BIOS, (+14.4%) Revenue climbs 20.3% year over year to $239.6
mln, beating analyst projections by $17.91 mln. Net loss of $0.13
per share was $0.11 wider than Wall Street expectations. Guides
FY14 revenue in-line with consensus view.
(-) JAZZ, (-6.3%) Q1 EPS of $1.61 trails analyst estimates by
$0.18 per share. Revenue rises 25.8% over year-ago levels to $246.9
mln, missing Street view by $7.11 mln. Projected earnings, revenue
in-line with Wall Street expectations.