Biotech Stocks - Seracare...King Pharmaceuticals...Corautus Genetics
. . . Seracare Soars - Sales for the fiscal 2005 third quarter for Seracare Life Sciences (Nasdaq: SRLS) increased 123% to $14.2 million. Net income for the quarter jumped 114% to $1.9 million, and EPS rose 60% to $0.16. Also during the quarter, the company completed a public offering of its common stock, raising $42.6 million. SeraCare Life Sciences is a manufacturer and supplier of biological materials and services essential for the use and manufacture of diagnostic tests and the discovery, development and commercial production of pharmaceuticals.
. . . King posts record revenue - King Pharmaceuticals (NYSE: KG) recorded a second-quarter profit, reversing a year-ago loss. The company reported net income of $20.5 million for the period ending June 30, up from a loss of $62.9 million, a year ago. Revenue for the second quarter rose 68% to a record $462.9 million from $275.6 million a year ago. King markets both generic and brand-name pharmaceuticals.
. . . Potential diabetes therapy - Corautus Genetics (Nasdaq: VEGF) has entered into agreements with Caritas St. Elizabeth's Medical Center of Boston (CSEMC) that could lead to clinical trials by Corautus to evaluate the safety and efficacy of VEGF-2 for the treatment of diabetic neuropathy. Under the agreements, Corautus will provide its proprietary vascular endothelial growth factor, VEGF-2 for evaluation in the 64-patient, Phase I trial for treating diabetic neuropathy now underway at CSEMC that is funded by a grant from the National Institutes of Health ("NIH"). Dr. Douglas W. Losordo, program director of NIH Grant for Excellence in Gene Therapy and Chief, Cardiovascular Research CSEMC, said that "VEGF-2 holds potential as a major new therapy for a very large patient population with few therapeutic alternatives."
. . . King posts record revenue - King Pharmaceuticals (NYSE: KG) recorded a second-quarter profit, reversing a year-ago loss. The company reported net income of $20.5 million for the period ending June 30, up from a loss of $62.9 million, a year ago. Revenue for the second quarter rose 68% to a record $462.9 million from $275.6 million a year ago. King markets both generic and brand-name pharmaceuticals.
. . . Potential diabetes therapy - Corautus Genetics (Nasdaq: VEGF) has entered into agreements with Caritas St. Elizabeth's Medical Center of Boston (CSEMC) that could lead to clinical trials by Corautus to evaluate the safety and efficacy of VEGF-2 for the treatment of diabetic neuropathy. Under the agreements, Corautus will provide its proprietary vascular endothelial growth factor, VEGF-2 for evaluation in the 64-patient, Phase I trial for treating diabetic neuropathy now underway at CSEMC that is funded by a grant from the National Institutes of Health ("NIH"). Dr. Douglas W. Losordo, program director of NIH Grant for Excellence in Gene Therapy and Chief, Cardiovascular Research CSEMC, said that "VEGF-2 holds potential as a major new therapy for a very large patient population with few therapeutic alternatives."
posted by laltman at 12:24 PM
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