AEGR Nearing $100, ALXA Grows Richer, CBST's Deal Day, BEAT Hits Right Notes

(RTTNews) - Aegerion Pharmaceuticals Inc. (AEGR) touched an all time high of $97.46 before closing Tuesday's trading at $82.90 following the announcement of Q2 results. According to the company, its cholesterol drug Juxtapid continues to demonstrate growth, and so much so, that it has raised its full year 2013 revenue guidance.

The company now foresees full year 2013 revenue to range between $30 million and $35 million compared to its prior outlook of $15 million to $25 million.

Alexza Pharmaceuticals Inc. (ALXA) has earned a $1.25 million milestone payment from its commercial partner Grupo Ferrer Internacional, S.A. following the initiation of sales of ADASUVE, the first inhaled treatment for schizophrenia and bipolar disorder, in the European Union. Alexza was approved in Europe in February 2013, and this is the first commercial sale of ADASUVE in the world.

The FDA approved ADASUVE last December. Alexza has an exclusive U.S. license and supply agreement for ADASUVE with Teva Pharmaceuticals that was inked in May of this year. ADASUVE is expected to be launched in the U.S. in the second half of 2013.

ALXA closed Monday's trading 1.98% higher at $4.63.

CardioNet Inc. (BEAT) was up more than 12% to $6.18 in extended trading after reporting Q2 results, which according to the company were the strongest in four years. The company achieved profitability in Q2, 2013 on an adjusted basis for the first time in four years on revenue growth of 17%.

Effective August 1, 2013, the company's name will be changed to BioTelemetry Inc.

Tuesday was a day of deals for Cubist Pharmaceuticals Inc. (CBST) with the company making two acquisitions namely, Trius Therapeutics Inc. (TSRX) and Optimer Pharmaceuticals Inc. (OPTR).

All of the outstanding shares of Optimer common stock will be acquired for $10.75 per share in cash, or approximately $535 million while that of Trius will be acquired for $13.50 per share in cash or approximately $707 million.

CBST rose more than 5% in after-hours to $60.27.

Questcor Pharmaceuticals Inc. (QCOR) rose more than 14% in after-hours to $59.50 following Q2 results. There was a significant increase in second quarter net sales and earnings per share, thanks to the expanded usage of its flagship product H.P. Acthar Gel, also called Acthar, a repository corticotropin injection.

Lexicon Pharmaceuticals Inc. (LXRX) said Tuesday that it expects top line results from a phase II study of its investigational drug Telotristat etiprate in ulcerative colitis around the end of the third quarter. Top line results from a phase II study of LX1033 in diarrhea-predominant irritable bowel syndrome are scheduled to be released in the fourth quarter of 2013. LXRX closed Tuesday's trading 6.52% higher at $2.45.

RedHill Biopharma Ltd. (RDHL) on Tuesday said it plans to conduct a phase IIa, proof of concept study of RHB-104 for the treatment of rheumatoid arthritis. In a preclinical study, the disease severity was significantly reduced by RHB-104.

A phase IIa proof of concept study of RHB-104 for multiple sclerosis is underway while a phase III clinical study of RHB-104 for the treatment of Crohn's disease is scheduled to commence in the third quarter of 2013 in the U.S., Canada and Israel.

RDHL dropped 0.69% to close at $10.02.

Teleflex Inc. (TFX) announced Tuesday that its ARROW GPSCath Balloon Dilatation Catheter in Higher Rated Burst Pressure and 80 cm lengths has received FDA clearance. The product combines angioplasty and targeted injection system in one device, potentially reducing procedure time and expense for both patients and medical professionals, according to the company.

The company is scheduled to report Q2 financial results on Wednesday, July 31, 2013.

TFX closed Tuesday's trading at $79.15, down 0.42%.