Isis Optimistic on Pipeline, Myrexis Dissolves Itself: Healthcare Business Recap
Isis Pharmaceuticals (NASDAQ:ISIS) points to the optimism attending its antisense platform, along with a strong pipeline which includes its cholesterol treatment Kynamro that is expected to win FDA approval early in 2013, as the reason for its upgrade to Outperform on valuation at Cowen. Shares skyrocketed Friday in response.
Iridex Corporation (NASDAQ:IRIX) has reached a worldwide patent licensing agreement which will permit Quantel Medical to market and to display the former’s MicroPulse tech.
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Shares of Insulet Corporation (NASDAQ:PODD) moved up on the day even though the company posted mixed third quarter results Thursday. Revenue jumped by 22 percent year-over-year, and investors are concentrating on its pipeline, among which includes its OmniPod insulin pump that currently awaits FDA approval. Barrington expects that approval should come within 90 days.
Myrexis (NASDAQ:MYRX) reports that its Board of Directors has opted to dissolve the company and liquidate its assets, upon shareholder approval. The firm intends to distribute all available cash, except such as is needed for paying or making reasonable provision for known and potential liabilities plus other obligations of the firm.
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