Health Care Reform Loser: SPPI, SURG, IMRS, PIP

New York, NY -- (SBWIRE) -- 03/13/2013 -- Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) announced after the bell Tuesday that Fusilev sales are now expected to be between $10 million and $15 million for the first quarter, and between $80 million and $90 million for the full year 2013.Spectrum expects full year 2013 revenues of $160 million to $180 million. The consensus estimate is for revenues of $297.33 million.Spectrum Pharmaceuticals has gapped open dramatically lower Wednesday and is now down 4.43 at $8.00 on the highest volume in 7 months. The stock has tumbled to a new low for the year.

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Synergetics USA, Inc. (NASDAQ:SURG) Tuesday reported a net loss for the second quarter reflecting higher sales costs and operating expenses from the year-ago quarter.The company reported a net loss for the quarter of $1.4 million or $0.05 per share compared to a net income of $1.9 million or $0.07 per share in the prior-year quarter.On average, three analysts polled by Thomson Reuters expected the company to earn $0.07 per share for the second quarter. Analysts' estimates typically exclude special items.Third-quarter revenues declined 6.8 percent to $14.05 million from $15.08 million in the prior year, reflecting a decline in both Ophthalmic sales and OEM sales, which fell by 2.5 percent and 13.3 percent respectively. Analysts expected revenues of $16.09 million for the quarter.

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IMRIS Inc (NASDAQ:IMRS) announced that it has priced previously announced underwritten public offering of 5,750,000 common shares at a public offering price of USD3.50 per share. The gross proceeds to IMRIS, before underwriting commissions and other offering expenses are expected to be approximately USD20.1 million. IMRIS has granted the underwriters of the offering an option to purchase up to an additional 862,500 common shares at the public offering price during the period ending 30 days from the closing of the offering to cover over-allotments, if any. Canaccord Genuity is acting as sole book-running manager for the offering and Cowen and Company, LLC is acting as co-manager.

IMRIS intends to use the net proceeds from this offering for working capital and general corporate purposes, including commercialization activities of new products, research and development programs and working capital needs. The closing of the offering is expected to occur on or about March 18, 2013.

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PharmAthene, Inc.(NYSEAMEX:PIP) traded up on a volume of 2.29 million, higher than its standard daily volume. Shares have surged +10.00% to $1.98 ahead of its financial and operational results for the year ended 2012 on late Wednesday. Over the last twelve months, the stock has advanced42.45% and faced a worst price of $0.98 on Oct 31, 2012. The stock has moved up across its 50-day moving average of $1.40.

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