The Los Angeles Business Journal’s index of the largest local public companies rose slightly for the week. The weighted LABJ index was up less than 1 percent to close at 232, with gainers outpacing losers 94 to 56. Eight companies closed the week unchanged.
Among stocks trading above $1, diabetes drug developer Mannkind Corp. was one of the week’s leading gainers. Shares rose 18 percent to close at $6.12 on Friday. Earlier in the week, the Valencia company presented at the Jefferies Global Health Conference, part of an ongoing effort to raise awareness about the company’s inhalable insulin treatment, Afrezza.
Internet advertising company ReachLocal Inc. was another winner this week, with the Woodland Hills company’s shares climbing 14 percent to close at $3.28.
Puma Biotechnology Inc. was the week’s biggest loser. Shares fell 29 percent to close at $138.79 Friday. Earlier in the week, the Westwood company shared clinical data about its breast cancer treatment neratinib at a meeting of the American Society of Clinical Oncology in Chicago. The presentation raised questions about the drug’s benefits and whether they outweigh its severe side effects.
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