Weekly Movers: Neuren Pharma, Eli Lilly, Gilead Sciences…
pharmafile | May 3, 2016 | Feature | Manufacturing and Production |
Corporate result announcements remained the key focus as well as the primary drivers for stock movements this week as the reporting season drew to a close.
Here’s a quick look at some of the biggest movers of the week:
Shares in Neuren Pharma (ASX: NEU) plunged nearly a quarter in value after reporting after reporting disappointing clinical trial results for a therapy to treat traumatic brain injury. The stock dropped to 8 cents.
The company is currently conducting Phase II clinical trials for trofinetide in moderate to severe traumatic brain injury (TBI) along with the US Army Medical Research and Materiel Command.
Aratana Therapeutics (Nasdaq: PETX) stock jumped following news the company has licenced animal health rights for its Galliprant to Elanco Animal Health.
Elanco is a unit of Eli Lilly.
Shares in Gilead Sciences (Nasdaq: GILD) dropped following disappointing results announcement for the first quarter.
The company reported first quarter earnings of $3.03 compared with $2.94 a year ago.
Illumina (Nasdaq: ILMN) stock dropped after the company lowered its outlook for the first quarter. The company said it now sees first quarter revenue of about $572 million.
Shares in US drugmaker Eli Lilly (NYSE: LLY) dropped to close down over 2% Tuesday after the company posted first-quarter earnings below expectations but raised its outlook for the full year.
However, the company reported a 5% rise in first-quarter sales beating estimates driven by revenue from the two new diabetes drugs.
The company posted revenue of $4.87 billion helped by sales of two new diabetes therapies called Trulicity and Jardiance, as well as the cancer medicine Cyramza. Eli Lilly said sales were hurt by strong dollar in currency terms.
Anjali Shukla
