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Sector Update: Healthcare Shares Lower; Sarepta Drops 50% As New Drug Application Dubbed Premature
By: MT Newswires
Healthcare shares are flat to lower in pre-market.
Among healthcare stocks news today, Ariad Pharmaceuticals ( ARIA ) is up about 2% as it says its Q3 net loss widened to $66.3 million, or $0.36 per share, compared to net loss of $53.2 million, or $0.32 per share, for the same period in 2012, but beat expectations for a loss of $0.42.
Total revenue rose to $16.73 million, the majority of which ($16.7 million) came from sales of leukemia treatment Iclusig. Analysts were looking for $16.6 million, according to Capital IQ.
And, Sarepta Therapeutics ( SRPT ) said its Q3 non-GAAP net loss widened to $0.63 per share from a loss of $0.27 the year earlier, coming in slightly ahead of the $0.65 loss expected by analysts. Revenue fell to $4.2 million from $7.6 million, missing the $4.6 million average estimate.
SRPT dropped nearly 48% in pre-market trade after having said earlier that the U.S. Food and Drug Administration is considering its new drug application for Eteplirsen to treat Duchenne muscular dystrophy as premature.