Healthcare Business Recap: Sanofi RECALLS Kidney Drug, Peregrine REBOUNDS Sizably

Sequenom, Inc. (NASDAQ:SQNM) shares seem indifferent to the news that its subsidiary raeched several international distribution deals that will broaden access to the MaterniT21 PLUS testing service overseas. The service is intended for use in pregnant women who are at elevated risk for fetal aneuploidy and it may be used as early as 10 weeks gestation.

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Shares of Sanofi-aventis (NYSE:SNY) remained stable as the firm announced that it has voluntarily recalled nine lots of Thymoglobulin, which is its drug for treating kidney rejection in transplant patients, subsequent to one of the lots failing a periodic stability test. Fortunately, the FDA reports that the firm has not learned of any safety problems linked to the failure.

Catalyst Pharmaceutical Partners Inc. (NASDAQ:CPRX) shares lose almost a fifth of their value Tuesday, after the firm announced a direct public offering of 4 million shares of common stock along with warrants to purchase 1.2 million common shares. The aggregate offering price for each share and corresponding warrant is $1.50, which results in a gross proceeds amount of $6 million.

Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) rebound significantly following yesterday’s selloff due to negative Seeking Alpha article. The stock is up around 340 percent since the end of June, primarily on optimism concerning its cancer drug bavituximab. Bulls for the stock contend that recent Phase II studies show the doubling of tumor response rates, marking a 50 percent increase in median progression free survival, along with trends that indicate a significant improvement in median overall survival.

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