Sector Update: Healthcare Shares Flat Pre-Market; Cell Therapeutics Soars 13% on Acquiring Rights to 2 Anti-Cancer Compounds
Healthcare shares are flat in pre-market trade.
Shares of Rosetta Genomics ( ROSG ) are up 35% at $4.29 pre-market after the company said it has signed a master service provider agreement with an undisclosed "major global biopharmaceutical company," under which Rosetta will provide its microRNA profiling and other services pursuant to a collaboration in important areas of unmet medical need utilizing a novel therapeutic approach.
And, Biopharmaceutical company Cubist Pharmaceuticals ( CBST ) reported that its total net revenues for Q4 were $299.7 million, including DIFICID revenues since the completion of CBST's acquisition of Optimer Pharmaceuticals, Inc. on Oct. 24, 2013. This is up 22% compared to $245.9 million in Q4 2012. Analysts are expecting Q4 revenues of $280.82 million, if comparable.
For FY13, the company expects to report net revenues of $1.1 billion, up 14% compared to $926.4 million in 2012. Analysts are looking for revenues of $1.03 billion.
Cell Therapeutics ( CTIC ) is 13% higher this morning after it said it has reached an agreement with Novartis to reacquire rights to two anti-cancer compounds -- pixantrone (PIXUVRI) and paclitaxel poliglumex (Opaxi).