MARKET PULSE-Oculus, Biotelemetry, Ambit Biosciences, Plug Power

Wed Dec 4, 2013 2:54pm EST
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stocks were down on Wednesday after a mixed bag of economic data tempered recent expectations the U.S. Federal Reserve will wind down its massive stimulus earlier than expected. The Dow Jones industrial average was down 0.38 percent at 15,854.23, the S&P 500 was down 0.32 percent at 1,789.47 and the Nasdaq Composite was down 0.14 percent at 4,031.503.


The U.S. Food and Drug Administration approved the company's anti-scar treatment for raised and red scars resulting from burns, surgical procedures and trauma wounds.

The treatment, Microcyn Scar Management HydroGel, will be marketed by Oculus's U.S. dermatology partner, Quinnova Pharmaceuticals, in the first half of 2014.

** BIOTELEMETRY INC, $7.81, -26.87 pct

The cardiac monitoring device maker's shares fell sharply after Lifewatch AG, a Switzerland-based competitor, said the Centers for Medicare & Medicaid Services had reduced the reimbursement rate for wireless cardiac monitoring services by 13.7 percent for 2014. BioTelemetry could not be reached for comment.

** AMBIT BIOSCIENCES CORP, $8.31, -35.08 pct

The company said it would not file an application for approval of its lead drug candidate, quizartinib, after the U.S. health regulator said the company's mid-stage trial results did not warrant accelerated approval.   Continued...