Horizon Shares Rise on Q3 Results, Guidance -- Biotech Movers

 | Nov 06, 2017 | 9:23 AM EST
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Shares of Horizon Pharma plc (HZNP) rose 5.8% to $14.99 ahead of the market open on Monday, Nov. 6, after the Dublin-based firm unveiled better-than-expected third-quarter numbers and raised its full-year net sales outlook and the lower end of its 2017 adjusted Ebitda guidance.

The company reported non-GAAP diluted earnings per share of $0.26, compared with $0.70 in the year-ago period. Net sales were $271.6 million, compared with $208.7 million in the same period in 2016.

Analysts had forecast, on average, non-GAAP EPS of $0.22 on sales of $259.7 million, according to FactSet Research Systems.

Horizon upped its full-year 2017 net sales guidance to $1.030 billion to $1.050, from the previously issued guidance of $1.010 billion to $1.045 billion. It also revised its adjusted Ebitda guidance to $350 million to $375 million from $340 million to $375 million.

Meanwhile, shares of Compugen Ltd. (CGEN) were up to 6.7% to $3.10 after the Holon, Israel-based firm said it was advancing COM902 into manufacturing in anticipation of filing an investigational new drug application in 2019. COM902 is Compugen's lead anti-TIGIT (T cell immunoreceptor with Ig and ITIM domains) antibody.

Compugen has signed a a process development and manufacturing service pact with Bayer HealthCare LLC to make COM902 for future use in clinical studies.

Among the other stock movers was BioCryst Pharmaceuticals Inc. (BCRX) . Shares of the Research Triangle Park, N.C.-based firm were up 7.3% to $5.02 ahead of the release of its third-quarter numbers on Nov. 7.

BioCryst is focused on developing treatment for rare diseases including certain types of cancer and other viruses.

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