OPK To Dual List In Israel, ERB Turns Black In Q2, GTXI Loses POWER

(RTTNews) - ERBA Diagnostics Inc. (ERB) reported profit in Q2-2013, reversing a year-ago loss, on 60% revenue growth. The company said that it plans to continue to streamline its operations as well as to continue to implement a number of new initiatives for the remainder of 2013, in an effort to grow sales and product range, organically. The company also noted that it will also continue to explore potential acquisitions, both in the United States and internationally.

ERBA closed Monday's trading at $0.83.

GTx Inc. (GTXI) plunged more than 65% on Monday to close at $1.43 after its two phase III trials evaluating Enobosarm for the prevention and treatment of muscle wasting in patients with non-small cell lung cancer failed to meet the pre-specified criteria.

In the trials dubbed, POWER1 and POWER2, the lean body mass and stair climb power responder analyses were mixed in patients treated with Enobosarm. However, Enobosarm demonstrated significant quantitative advantage in lean body mass compared to placebo in both trials, noted the company.

GTx plans to initiate discussions with both the FDA and European regulatory authorities to determine the path forward.

Lannett Company Inc. (LCI) has extended its exclusive distribution agreement with Jerome Stevens Pharmaceuticals Inc. that is due to expire in March 2014 by 5 years. Lannett is the exclusive distributor in the United States of three JSP products namely, Butalbital, Aspirin, Caffeine with Codeine Phosphate Capsules USP, Digoxin Tablets USP and Levothyroxine Sodium Tablets USP.

The companies will also be discussing a mutual extension to renew the agreement for an additional five years continuing through March 2024.

LCI closed Monday's trading 0.75% higher at $13.40.

OPKO Health Inc. (OPK), which is already listed on the NYSE in the United States, will begin trading on the Tel-Aviv Stock Exchange also under the ticker symbol OPK, beginning on August 21, 2013.

Dr. Phillip Frost, OPKO's Chairman and Chief Executive Officer said, "We are pleased to start trading on the TASE with this dual listing and to join Israel's top companies as part of the TA-25 index."

OPK touched a new 52-week high of $8.30 on Monday before closing at $8.19.

Quidel Corp. (QDEL) has received 510(k) clearance from FDA for its Sofia RSV FIA test for use with the Sofia Analyzer for the rapid, objective detection of respiratory syncytial virus, or RSV, infections. RSV is a respiratory virus that infects the lungs and breathing passages.

QDEL closed Monday's trading at $25.52, up 0.12%.