AVNR Nears PRIME Time, CRTX Turns The Corner, NSPH Falls Big, Busy Time For PBYI

(RTTNews) - Avanir Pharmaceuticals Inc. (AVNR) gained more than 2 percent in after hours on Tuesday following its Q2 results. The company improved its loss and grew revenue by 87% in the second quarter ended June 30, 2013.

Top line results from a phase II study of AVP-923 for the treatment of central neuropathic pain in multiple sclerosis, dubbed PRIME, are expected in the fourth calendar quarter of 2013.

BioLineRx Ltd. (BLRX) expects to deliver partial results from a phase II trial of BL-8040 for treating acute myeloid leukemia in the fourth quarter of 2013, with final results expected to be available by the second half of 2014.

BLRX closed Tuesday's trading 1.09% higher at $1.86.

Cardium Therapeutics (CXM) has entered into a new Excellagen-based stromal cell research for wound healing with Orbsen Therapeutics under European FP7 REDDSTAR diabetes initiative. The deal allows Cardium's Excellagen gel to be utilized as a delivery agent for Orbsen's proprietary stromal cell therapy in pre-clinical studies for the potential treatment of diabetic foot ulcers.

Excellagen is FDA-cleared for the treatment of neuropathic and diabetic foot ulcers, pressure ulcers, venous ulcers, surgical wounds, and other dermal wounds.

CXM closed Tuesday's trading 3.31% higher at $1.25.

Cornerstone Therapeutics Inc. (CRTX) closed Tuesday's trading over 5 percent higher at $8.99 after reporting record revenue and improved profit for the second quarter of 2013.

The total net revenues rose to $40.4 million in Q2, 2013 from $21.5 million in the second quarter of 2012. On a non-GAAP basis, net income for the quarter was $9.9 million, or $0.33 per share, up from $2.8 million or $0.11 per share in the year-ago quarter.

CytRx Corp. (CYTR) expects to report data from a global phase IIb clinical trial testing its investigational drug Aldoxorubicin head-to-head against Doxorubicin as a first-line therapy for soft tissue sarcomas in the second half of 2013.

The company expects to initiate a phase IIb clinical trial with Aldoxorubicin in patients with relapsed glioblastoma in the second half of 2013, and a global phase III trial with Aldoxorubicin as a second-line treatment for patients with soft tissue sarcoma who have failed chemotherapy in the first quarter of 2014.

CYTR closed Tuesday's trading at $2.56, up 2.40%.

Furiex Pharmaceuticals Inc. (FURX) expects to report top line results from two on-going phase III trials of Eluxadoline for the treatment of diarrhea-predominant irritable bowel syndrome in the first quarter of 2014.

FURX closed Tuesday's trading 1.35% down at $46.

Nanosphere Inc. (NSPH) fell more than 19 percent in extended trading on Tuesday after the company lowered its 2013 revenue and placement guidance.

Accordingly, the company now expects 2013 revenue to range between $10 million and $11 million, down from its prior outlook of $13 million to $15 million. The company's new customer placements guidance for the year is now lowered to 150-200 from its previous forecast of 200-250.

Puma Biotechnology Inc. (PBYI) has a number of events lined up for the remainder of this year, making the stock worth watching.

The company expects to report:

* Additional data from the on-going phase II trial of PB272 in combination with Temsirolimus in fourth line HER2-positive metastatic breast cancer later in 2013.

* Data from the on-going phase II trial of PB272 in patients with HER2-positive metastatic breast cancer that has metastasized to the brain later in 2013.

* Data from two on-going phase II trials of PB272 as a neoadjuvant treatment for patients with HER2-positive breast cancer in the third quarter of 2013 and late 2013, respectively.

* Data from a phase II trial of PB272 in patients with HER2 mutated non-small cell lung cancer later in 2013.

* Initial data from a phase II trial of PB272 in HER2-negative breast cancer patients who have a HER2 mutation later in 2013.

PBYI closed Tuesday's trading 1.08% higher at $55.91.

Shares of Santarus Inc. (SNTS) rose more than 8 percent to $27 in extended trading on Tuesday after the company reported strong Q2 results and boosted its financial outlook for 2013.

The company expects to file an Investigational New Drug application with the FDA for its monoclonal antibody, SAN-300, with the goal of beginning a phase IIa clinical study in the treatment of patients with rheumatoid arthritis by the end of 2013.