On Monday, Shares of HMS Holdings Corp (NASDAQ:HMSY), lost -21.68% to $12.50.
After the markets closed on Friday, July 17, HMS Holdings Corp. (HMSY) received notification from the State of New Jersey Division of Purchase and Property, Procurement Bureau (the “Division”) of its intent to make a contract award for Third Party Liability (“TPL”) Services to a competitor, following the State’s RFP 15-x-23249. HMS intends to protest the projected award to Public Consulting Group, consistent with the Division’s administrative regulations, and will also consider any and all legal remedies as appropriate.
“We are committed to the third-party liability business we perform for state customers throughout the nation. We have served the State of New Jersey for nearly 30 years and recovered hundreds of millions of dollars for the State Treasury. We believe our experience and qualifications as a third-party liability vendor for state Medicaid programs are unmatched in the industry and that does not appear to be reflected in the scoring of our RFP response,” said Bill Lucia, Chairman and CEO.
HMS Holdings Corp., through its auxiliaries, provides healthcare insurance benefit cost containment services in the United States. The companys coordination of benefits services provide cost avoidance services that offer validated insurance coverage information, which is used by government-sponsored payers to coordinate benefits for incoming claims; payment integrity services to identify improper payments on a pre-payment and post-payment basis, identify and recover overpayments, detect and prevent fraud and abuse, and identify process improvements; and eligibility verification services comprising asset and income verification, premium assistance, dependent eligibility audits, and other verification solutions.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), inclined 0.03% to $149.13, during its last trading session.
BioMarin Pharmaceutical, declared an update on the ABRAZO Phase 2 study of its poly ADP-ribose polymerase (PARP) inhibitor, talazoparib (formerly referred to as BMN 673) for the treatment of patients with deleterious germline BRCA 1 or BRCA 2 mutations and locally advanced and/or metastatic breast cancer.
The company declared that the ABRAZO Phase 2 trial has met the study’s protocol-specified threshold for documented tumor reduction (using the RECIST response rate criteria) in order to warrant expanding enrollment in the study from 70 to 140 patients. The ABRAZO study comprises two cohorts of patients with BRCA mutated metastatic breast cancer. The first cohort comprises of patients who have initially responded to a platinum-containing regimen then progressed, while the second cohort comprises of patients who have received more than two preceding chemotherapy regimens for metastatic disease. The protocol-specified expansion criteria requires that a minimum of five responses per cohort, of up to 35 patients, be observed in order to expand the study. The minimum of 5 responses was seen preceding to full enrollment in each cohort.
BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions in the United States, Europe, Latin America, and internationally. Its commercial products comprise Vimizim, an enzyme replacement therapy for the treatment of MPS IV A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with mucopolysaccharidosis VI; Kuvan, a proprietary synthetic oral form of 6R-BH4 used to treat patients with phenylketonuria (PKU), an inherited metabolic disease; Aldurazyme used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Firdapse, a form of 3,4-diaminopyridine used for the treatment of Lambert Myasthenic Syndrome, an autoimmune disease.
Finally, InterCloud Systems Inc (NASDAQ:ICLD), ended its last trade with -8.40% loss, and closed at $2.18.
InterCloud Systems, declared that it was recently awarded a series of contracts from new and existing clients valued at over $1.5 million to provide engineering, design and implementation of next generation wireless networks. Further details are withheld due to the nature of the project and associated critical infrastructure.
Mark Munro, CEO of InterCloud Systems stated: “InterCloud continues to win new business from our growing pipeline of sales opportunities. Contracts such as these are indicative of our continued growth and the confidence we enjoy from our customers. This opportunity is predictable to be accomplished over the next several months.”
InterCloud Systems, Inc. provides end-to-end IT and network solutions to the telecommunications service provider and corporate enterprise markets through cloud platforms and professional services in the United States and internationally. It operates through three segments: Applications and Infrastructure, Professional Services, and Cloud and Managed Services.
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