ATRC, RGEN See Rosy Future, VICL, INCY To Watch Out For, PCRX Down But Not Out

(RTTNews) - Acura Pharmaceuticals Inc. (ACUR) fell more than 7 percent to $1.84 in extended trading on Thursday following lacklustre second quarter results. As far as Acura's royalties on net sales of painkiller Oxecta by Pfizer are concerned, it's déjà vu all over again.

Under a license agreement with Pfizer, Acura Pharma is eligible to receive tiered royalties ranging from 5% to 25% on net sales of Oxecta.

Oxecta has been commercially available from Pfizer since January 23, 2012. As such, Pfizer attained no meaningful sales of Oxecta in full year 2012 through Q1-2013, and it was no different in Q2-2013 also.

On July 1, 2013, Pfizer announced that it will expand commercialization of Oxecta to health care providers in Q4, 2013, and Acura rallied as much as 37% that day on hopes that the deal will help improve the drug's sales.

Medical device company AtriCure Inc. (ATRC) on Thursday reported second quarter results, reflecting its second consecutive quarter of double digit revenue growth, driven by overall strength and, notably, its U.S. business. Revenue for the second quarter of 2013 was a record $20.4 million, an increase of 11.8% over Q2-2012.

Looking ahead to 2013, the company now foresees revenue to be in the range of $77.0 - $78.5 million, an increase of 10% - 12% from 2012. Earlier, the company had projected 2013 revenue in the range of $76.5 - $78.0 million, an increase of 9% - 11% from 2012.

ATRC closed Thursday's trading at $9.80, up 1.45%.

Endocyte Inc. (ECYT) said Thursday that it expects to file investigational new drug application and initiate clinical trial for folate-targeted tubulysin therapeutic in the third quarter of 2013. The European Medicines Agency decision on pending marketing authorization applications for Vintafolide and Etarfolatide are expected in the fourth quarter of 2013.

ECYT touched a new 52-week high of $18.89 on Thursday before closing at $18.80.

GeoVax Labs Inc. (GOVX.OB) has been awarded a Small Business Innovative Research grant of roughly $277,000 by the U.S. National Institutes of Health for the first year of a two-year project on GM-CSF adjuvanted HIV vaccine.

A similar award of grant for the second year awaits the company subject to availability of funds and satisfactory progress of the project. GOVX.OB closed Thursday's trading at $0.49.

Incyte Corp. (INCY) touched a new 52-week high of $26.21 on Thursday before closing at $25.83 after it reported a 17 percent increase in Q2 revenue and boosted its revenue guidance for 2013.

The company expects top line results from a phase II trial of Jakafi (ruxolitinib) in combination with capecitabine for recurrent or treatment refractory metastatic pancreatic cancer to be released later in the third quarter of 2013.

Omeros Corp. (OMER) has submitted a New Drug Application to the FDA for OMS302 for use in patients undergoing intraocular lens replacement surgery.

The company plans to submit a Marketing Authorization Application to the European Medicines Agency via the EMA's centralized procedure this quarter.

OMER closed Thursday's trading 4.28% higher at $5.60.

Pacira Pharmaceuticals Inc. (PCRX) fell more than 11 percent in extended trading on Thursday after the company announced that its second pivotal, phase III clinical trial of EXPAREL in the expanded indication of intercostal nerve block for posterolateral thoracotomy failed to meet the primary endpoint.

However, a phase III study of EXPAREL in a femoral nerve block study for total knee arthroplasty is ongoing, and Pacira plans to submit data from that study to demonstrate efficacy and safety, as well as safety data from the intercostal nerve block study, for a supplemental New Drug Application in early 2014.

EXPAREL is currently approved for single-dose administration into the surgical site to produce postsurgical analgesia.

Repligen Corp. (RGEN) touched a new 52-week high of $10.68 on Thursday before closing at $10.23 after it reported 13% revenue growth in its second quarter and boosted its yearly revenue outlook.

Looking ahead to 2013, the company now expects total revenue to range between $65 million and $67 million, an increase from its prior guidance of $63 million to $65 million. The company's total revenue was $62.3 million in 2012.

Vical Inc. (VICL) now expects top-line results from its phase III registration trial of Allovectin in subjects with recurrent metastatic melanoma to be released in August. It was previously projected for release in the third quarter of 2013.

A phase 1/2 clinical trial of Vaxfectin-formulated therapeutic vaccine against herpes simplex virus type 2 (HSV-2) is expected to be initiated in the second half of 2013.

VICL closed Thursday's trading at $4.26, up 10.36%.