Elan Corporation, plc (ADR) (NYSE:ELN) stock increased 3.78% to $11.58 after the company announced that Board of Directors has approved the spin-off of the discovery science and Neotope Biosciences from the company. Completion of this transaction will create two independent, focused, public companies that enables investors to align timelines, risk and returns in order to achieve their investment objectives. The two companies will be Elan Corporation plc- a focused business that will generate growth; immediate and long term profits; and expanding margins.
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Horizon Pharma Inc (NASDAQ:HZNP) stock gained 5.78% to $4.94. On August 10, 2012, the company reported second quarter gross and net sales were $4.6 million and $3.8 million, respectively, as compared to $1.3 million in gross and net sales for the second quarter of 2011. Net loss for the quarter was $22.8 million, or $0.68 per share, as compared to a net loss of $11.6 million, or $7.78 per share in the quarter ended June 30, 2011.
Antares Pharma Inc (NASDAQ:ATRS) stock climbed 5.45% to $3.87. The shares of ATRS have been downgraded by TheStreet Ratings from hold to sell. Among the areas, the analysts feel negative is unimpressive growth in net income over time.
Additionally, the company last week reported a second-quarter loss of $2.8 million, or $0.03 per share, as compared with a loss of $1.6 million, or $0.02 per share, in the same period last year. Analysts expected a loss of $0.02 per share.
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Hemispherx BioPharma, Inc (NYSEAMEX:HEB) shares climbed 4.01% to $0.415 in the early hour. On August 8, 2012, the company announced its financial results for the three months ended June 30, 2012. The net loss for the period was $3,000,000 or $(0.02) per share, as compared to a net loss of $2,294,000 or ($0.02) per share for the same period in 2011. The net comprehensive loss for the period was $2,786,000, as compared to a net comprehensive loss of $3,389,000 for the same period in 2011.