Kythera, MannKind Among Week’s Biggest GainersFriday, June 7, 2013
The Los Angeles Business Journal’s index of largest local public companies closed up slightly for the week, in line with Friday’s gains in the larger markets.
The weighted LABJ Stock Index rose less than 1 percent to 162.87 for the trading week ended June 7. Decliners outpaced gainers 108 to 53, with seven companies unchanged.
Among the biggest gainers was Kythera Biopharmaceuticals Inc., rising 14 percent to $25.39. The gain came after the Calabasas developer of injectable fat dissolver for the aesthetic market made a presentation at an investor meeting.
MannKind Corp. rose 13 percent to $7.46. The Valencia developer of an inhalable insulin treatment announced it had completed a clinical trial required by U.S. regulators.
PCM Inc. rose 11 percent to $8.53. The El Segundo technology company, formerly known as PC Mall Inc. announced that its data centers in Georgia received a security certification that should help attract more business.
Guess Inc. rose 8 percent to $31.81. The Los Angeles apparel retailer reported a first quarter loss, but results were still better than expected.
Among the largest decliners was Virtual Piggy Inc. The Hermosa Beach provider of a digital payment system for young people fell 14 percent to $2.62, despite announcing two new partnerships.