Scientific advisers have been informed by the Food and Drug Administration Commissioner Margaret Hamburg that the FDA is taking into account a faster pathway for obesity treatments, life-saving antibiotics and other drugs believed to provide societal benefit.
Pursuant to the new pathway, the FDA would enable developers of such drugs to perform smaller but faster clinical trial, and offer a “special medical use” tag which would permit doctors to administer drugs to patients with critical need. The FDA needs to consider the needs people with deadly or debilitating diseases that may be ready to bear the risks of unproven drugs, according to Hamburg.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) extended gains Tuesday after initiating Phase I pulmonary arterial hypertension trial. Shares of this company traded up 1.21% during trading yesterday, hitting $9.45. The stock has a 52 week low of $1.27 and a 52 week high of $13.50. The company has a market cap of $2.03 billion. The P/S ratio is 68.35 and P/B ratio 19.11. The beta value is 0.26. ARNA’s RSI amounts to 61.67.
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) shares surged after Deerfield President James Flynn declared holding of 3.5 million Questcor shares, or a 5.8 percent ownership in the Anaheim, Calif., drugmaker. The company has a market value of $1.48 billion.
It employs 206 people, over the last 12 months has generated revenue of $343.78 million and has a net income of $134.54 million. The firm’s operating margin is 56.63 percent and net profit margin 39.14 percent. The latest closing price of its shares moved down -29.84% from the 50-day moving average.
Gilead Sciences, Inc. (NASDAQ:GILD) was up after disclosing that its third quarter 2012 financial results will be announced on Tuesday, October 23, at 4:05 p.m. Eastern Time. In other news, Jefferies Group reaffirmed their hold rating on the stock. For this company, a return on equity of 36.44 percent was realized due to the financial situation.
Last twelve months earnings per share reached a value of $3.30. Earnings are projected to move up 15.05 percent for the coming five years. The stock closed at $68.38, up 1.06 points or 1.57% from previous close and at a distance of +0.74% from 20-day simple moving average.
In the last trading session, Savient Pharmaceuticals, Inc. (NASDAQ:SVNT) jumped on Tuesday moving 40.65% above its 200 day moving average and changing hands as low as $2.00 per share. The stock is currently trading 35.35% up its SMA 50. The worst hit in its 52 week range is $0.48 per share, with $4.01 being the 52 week best price, which compares with a latest closing price of $2.26. The Beta of this stock is 2.25.