Double-Digit Drug Stock Movers (DXCM, CO, ALTH)
DexCom, Inc. (NASDAQ:DXCM) slumped 22% to $10.85 after the company posted a worse than expected Q3 loss and revenues that missed the Street’s estimate.
The Company’s third fiscal quarter loss narrowed to $13.4 million or 23 cents a share from $13.5 million or 29 cents a share last year. Revenue rose 61 percent to $11.7 million. Analysts had estimated a loss of 18 cents a share on revenue of $13.14 million.
The Company posted a third-quarter loss excluding some items of 22 cents a share, 28 percent wider than the average analyst estimate.
The stock opened at $10.25 and was trading within the range of $9.91-$11.69. The average daily volume of the stock is 299K shares.
China Cord Blood Corp (NYSE:CO) plunged 29.86% to $3.97. The company announced that it has priced a follow on underwritten public offering of 8,050,000 ordinary shares at a price of $4.50 per share, including 1,050,000 shares being sold by certain selling shareholders. The total gross proceeds of the Offering to the Company will be $31.5 million.
The offering is expected to close on November 10, 2010. The Company intends to use the net proceeds it will receive from the Offering to establish a new storage facility in Zhejiang province, to develop the Zhejiang operation and for general working capital purposes.
The stock went down more than 20% year-to-date.
Allos Therapeutics, Inc. (NASDAQ:ALTH) soared 16.04% to $4.34. The company reported Thursday a slightly wider loss for the third quarter. For the third quarter, net loss widened slightly to $18.7 million from $18.6 million a year ago.
On a per-share basis, loss was $0.18 per share on 105.3 million shares versus a loss of $0.21 per share on 89.5 million shares in the year-ago period. On average, 9 analysts poled by Thomson Reuters expected a loss of $0.21 per share for the quarter.
The 52-week range of the stock is $3.58-$8.79.