Top Healthcare Stocks
Healthcare stocks are narrowly lower, with the NYSE Healthcare
Sector index sliding about 0.2% while shares of healthcare
companies in the S&P 500 are down 0.1% as a group.
In company news, Stereotaxis (
) is up 46.5% at $5.23 a share, climbing as high as $5.54 after
announcing preliminary Q3 results ahead of the medical device
firm's upcoming rights offering.
Quarterly revenue is expected between $10.6 million to $11.1
million, down from $11.56 million during the same period last year
and trailing the estimate of the lone analyst polled by Capital IQ
by at least $100,000.
The company also said it added another order during Q3 for its
Niobe robotic magnetic navigation system, boosting its backlog on
Sept. 30 to between $5.2 million to $5.6 million. It had about $8.4
million in cash and equivalents on hand at the end of Q3 with an
estimated cash burn of $1.0 million to $2.0 million each
STXS is planning to sell subscription rights to purchase up to
6.32 million shares of its common stock at $3 apiece, with current
shareholders receiving subscription rights to purchase one
additional share for each three shares or warrants they now own. If
the offering is fully subscribed, the company will raise around
$18.95 million in gross proceeds.
In other sector news,
(+) BMY, (+1.2%) Q3 earnings rise 12% to $0.46 per share,
topping expectations by $0.02. Sales rose 9% to $4.07 billion,
exceeding the $4.0 billion consensus.
(-) RPRX (-30.1%) Drug-maker says it will delay filing new-drug
application for its Androxal drug candidate by around six months
until late 2014 after the FDA requests one-year test data for the
prospective treatment for low testosterone in men.