Health Care Sector Update for 04/02/2015: CNAT,RPRX,OCRX


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Top Health Care Stocks

JNJ +0.63%

PZE +0.26%

MRK +0.68%

ABT +0.60%

AMGN -0.55%

Health care stocks were moderately higher Thursday with the NYSE Health Care Sector Index climbing 0.4% and shares of health care companies in the S&P 500 also gaining about 0.4% as a group.

In company news, Conatus Pharmaceuticals Inc. ( CNAT ) tumbled Thursday after today pricing a $20.1 million public offering of 3.5 million shares of its common stock at $5.75 apiece, a 15.6% discount to Wednesday's closing price for the stock.

The company also issued 30-day options to underwriters to buy up to 525,000 more shares to cover possible overallotments. It expects to use net proceeds to fund clinical trials of its emricasan drug candidate, including preparation for registration trials of the experimental liver treatment.

CNAT shares recently were down over 11% at $6.08 each, or just 8 cents above their low for the session. The stock has traded within a 52-week range of $5.06 to $11.74 a share, already slipping more than 10% before today's slide.

In other sector news,

(+) RPRX, FDA accepts new drug application for the company's enclomiphene citrate drug candidate to treat secondary hypogonadism in overweight men wanting to restore normal testicular function.

(-) OCRX, Falls to record low after saying it will extend testing of its OCR-014 drug candidate to treat acute hepatic encephalopathy until the second half of 2016, also increasing enrollment by another 90 patients to 230 following recommendations of Independent Data Monitoring Committee.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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