Peregrine Pharmaceuticals(NASDAQ:PPHM) soared 35.40% to $1.74 on more than its average daily volume. Recently, the company reported a fourth-quarter net loss of $10.9 million, wider than the net loss of $10.0 million in the comparable quarter last year. Loss per share for the latest quarter was $0.10, compared to $0.15 in the year-ago quarter.
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On average, 3 analysts polled by Thomson Reuters expected the company to lose $0.13 per share for the quarter. Analysts' estimates typically excludes special items.
Total revenues for the quarter declined to $2.1 million from last year's $2.7 million in the same quarter. Analysts expected revenues of $2.64 million.
InterMune, Inc.(NASDAQ:ITMN) plunged $1.71 or 14.60% to $10 on over 2.68 million shares. The company posted quarterly revenue of $5.5 million, all of which came from Esbriet, compared with analysts' expectations of revenue of $40 million, according to Thomson Reuters I/B/E/S.
The company expects full-year revenue from Esbriet to be between $20 million and $25 million. Analysts on an average are expecting the company to post full-year revenue of $77.9 million.
InterMune posted a net loss from continuing operations of $50.9 million, or 78 cents per share, for the second quarter compared with a loss of $41.3 million, or 70 cents per share, a year earlier. Analysts on an average expected a loss of 23 cents per share.
Sequenom, Inc.(NASDAQ:SQNM) is trading 7.40% lower at $3.77. Recently, the company announced that it has filed a Notice of Appeal to the U.S. Court of Appeals for the Federal Circuit from the July 5, 2012 Preliminary Injunction Order of the U.S. District Court for the Northern District of California denying Sequenom's request for preliminary injunctive relief.
Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) jumped 6.52% at $10.14. Shares of Arena Pharmaceuticals are skipping over broader market moves Monday, as well as outpacing its peers, on some positive sentiment.
Despite the recent move lower, Arena is still trading up about 440 percent in 2012, bolstered by a positive FDA panel vote for Belviq on May 10th and subsequent approval on June 27th. Peer VIVUS (Nasdaq: VVUS) recently received FDA approval for its own weight-management pill, Qsymia, while Orexigen (Nasdaq: OREX) is still conducting trials on its Contrave to evaluate its effects on the heart.