The Biopharma Industry Across Massachusetts Adds Record Jobs, Contributes $6B in State Payroll – (CUR, PSTI, ARNA, CTIC)

The number of people hired in the biopharma industry across Massachusetts, where the average maximum salary is $113,000, increased 1 percent as compared to last year to hit best level ever of above 53,000, according to a report released yesterday by the MassBio. The industry trade association report disclosed that the industry’s expansion trend continued for an eighth consecutive year and now contibuted more than $6 billion in payroll annually.

The report also revealed that jobs in biotech research and development grew at a faster pace in Massachusetts last year as compared to any other state. Also, while employment in biopharma manufacturing have reduced about 8 percent countrywide since 2002, Massachusetts is one of only five states that have been adding workers in that sub-sector over the past decade.

Neuralstem, Inc. (AMEX:CUR) was in the top gainers list after announcing proposed public offering of 7,000,000 common shares. The stock’s price increased in the last trading session with a previous 52-week high of $1.96.

The stock was trading at above-average volume. The stock traded at a volume of 15.72 million shares at a price gain of 38.00%. The share price is now up 53.33% for the past three months. Latest closing price was 0.73% above its 50-day moving average and 0.93% above its 200-day moving average.

Pluristem Therapeutics Inc. (NASDAQ:PSTI)
was a loser after decision of selling $32 million in stock. While trading at volume higher than average, the stock fell -15.20% yesterday. Its previous 52-week high was $5.00 and moved up 63.14% over the same period, trading at a volume of 8.73 million. Shares have risen 79.07% over the trailing 6 months. The stock is currently trading 6.53% above its SMA 50 and 40.31% above its SMA 200.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) faced a fall on Thursday. Over the last 12 months, a return on equity of -116.62 percent was realized due to the financial situation and earnings per share reached a value of -$0.61. Earnings are projected to move up 25.00 percent for the coming five years. The stock closed at $8.31, down -0.54% from previous close and at a distance of -3.52% from 20-day simple moving average.

Cell Therapeutics Inc (NASDAQ:CTIC)
moved down -49.27% in this year and its price history showed most recently beta was at 5.31. Overall the last 12 months, the percentage change in the price was -50.17%, hitting the highest of $8.25 on Feb 17, 2012 while lowest level in that period was $1.77 on Sep 06, 2012.

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