Hemispherx BioPharma, Inc (AMEX:HEB) shares climbed 8.77% to $0.479 in the early hour after the company announced that it filed on July 31, 2012 with the U.S. Food and Drug Administration complete response to the FDA's November 25, 2009 Complete Response Letter in support of Ampligen's New Drug Application for Chronic Fatigue Syndrome (CFS). On August 10, 2012, the FDA acknowledged in writing receipt of the Company's August 1, 2012, response stating, "It considers this a complete, class 2 response to November 25, 2009, action letter. Therefore, the user fee goal date is February 2, 2013.
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Elan Corporation, plc (ADR) (NYSE:ELN) shares gained 1.72% to $11.80 after the company’s director yesterday have approved the spin-off of its discovery science and neotope biosciences businesses. The company also said that it expects the new company, Neotope Biosciences, to be listed on a U.S. exchange by the end of the year. Additionally, the company will incur a charge upon completion of the transaction.
Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) stock plunged 9.01% to $3.74. JMP Securities restated coverage with an "Outperform" rating on Alexza and has a price target of $12.00 a share. The firm notes that Alexza ended the quarter with $26.4MM in cash, which can fund operations into the second quarter of 2013. The firm has modeled a $5MM milestone from Grupo Ferrer in 4Q12 for approval of Adasuve, an acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults, in Europe.
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Cytori Therapeutics Inc. (USA) (NASDAQ:CYTX) stock increased 6.48% to $2.88. The company, on August 8, 2012, said that during the second quarter and first half of 2012, made key advancements in its cardiac cell therapy pipeline, achieved important commercial and regulatory milestones, carefully managed its financial resources and remained on plan to achieve $9 million in revenue for the year.
Array Biopharma Inc (NASDAQ:ARRY) shares climbed 5.48% to $4.81 after the company reported a fourth-quarter net loss of $8.0 million, or $0.09 per share, versus a net loss of $21.8 million, or $0.38 per share, for the same period last year. Revenue was $20.7 million, as compared to $19.0 million for the same period in fiscal 2011. Analysts expected the company to report a loss of $0.13 per share on revenues of $21.45 million for the quarter.
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) shares climbed 6.12% to $3.13. The company, last week, reported financial results for the quarter ended June 30, 2012. Net loss for the three and six months ended June 30, 2012 was $8.6 million and $22.5 million, respectively. As of June 30, 2012, cash, cash equivalents and marketable securities totaled $29.3 million.