Top Healthcare Stocks
Healthcare stocks continue to add to earlier gains, ending near
their best levels of the session, with the NYSE Healthcare Sector
Index advancing 1.1% and shares of healthcare companies in the
S&P 500 gaining about 1.0% as a group.
In company news, shares of 22nd Century Group Inc. (
) retreated Monday, falling nearly 10% in late afternoon trade
after the plant biotechnology company filed a S-3 shelf
registration form with U.S. regulators to sell up to $45 million of
its stock and debt securities over the next three years to support
its development of smoking cessation products.
XXII shares were down 9.4% at $2.50 each shortly before the
closing bell Monday afternoon, earlier dropping to an intra-day low
of $2.41 a share. The stock has a 52-week range of 46 cents to
$6.36 a share, rising over 241% in value over the past 12
The company that is using genetic engineering to modify the
nicotine content in tobacco plants also said it continues to
cooperate fully with the National Association of Attorneys General
to close on its proposed acquisition of NASCO Products, adding
NASCO already has begun to produce tobacco products at the XXII
factory in Mocksville, N.C.
XXII also said it is continuing to prepare its modified-risk
cigarettes - known internally as Brand A and Brand B - for review
by the U.S. Food and Drug Administration. The company said it has
hired a consulting firm specializing with regulatory filings and in
designing exposure studies of new products to assist with those
efforts. XXII expects to file marketing applications with the FDA
before the end of the year.
In other sector news,
(+) SRPT, Receives letter from FDA stating that "with additional
data to support the efficacy and safety of eteplirsen for the
treatment" of Duchenne muscular dystrophy, a new drug application
"should be fileable."
(-) ATHN, Swings to a loss of $0.21 per share, compared with a
net income of $0.02 per share during the same period last year.