Drug Stocks In News (ANPI, SOMX, AVII)

Angiotech Pharmaceuticals, Inc. (USA) (NASDAQ:ANPI) dropped 5.53% to $0.258. The company posted a wider loss for the third quarter, hurt by a combination of lower royalty revenues and higher expenses. Net loss for the quarter widened to $18.5 million or $0.22 per share from $7.8 million or $0.09 per share in the year-ago period. Adjusted net loss amounted to $8.15 million or $0.10 per share, versus adjusted net loss of $72 thousand last year. The company’s revenue for the period dropped to $58.98 million from $63.24 million for the comparable period last year Somaxon Pharmaceuticals, Inc. (NASDAQ:SOMX) surged 1.51% to $3.36. The company announced financial results for the third quarter ended September 30, 2010. For the third quarter of 2010, the net loss was $12.9 million, or $0.37 per share, compared with a net loss of $1.8 million, or $0.08 per share, for the third quarter of 2009. At September 30, 2010, Somaxon had cash, cash equivalents and short-term investments totaling $41.5 million, compared to $5.2 million at December 31, 2009. AVI BioPharma, Inc. (NASDAQ:AVII) fell 3.61% to $1.87. Net loss of the company for the third quarter narrowed to $7.3 million or $0.07 per share from $8.1 million or $0.08 per share in the comparable quarter last year. Revenue for the quarter increased to $8.7 million from $6.4 million in the prior-year quarter, driven by a net increase in revenue from the new H1N1, Ebola and Marburg government research contracts. The stock went up more than 28% year-to-date. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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