Healthcare Stocks Mixed Late; Intellipharaceutics Pares Earlier Losses, Closes Up After News of Offering


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Top Healthcare Stocks

JNJ -0.3% from near 52 week highs regular hours, -0.1% after hours.

PFE -0.5%.

ABT -0.3%

MRK flat

AMGN +0.2%

Healthcare stocks were mixed with the NYSE Healthcare Sector Index rising 0.5% while shares of healthcare companies in the S&P 500 were down 0.2% as a group.

In company news, Intellipharmaceutics ( IPCI ) recovered early losses that saw it open at $3.55 and touch $3.52 but rally through the close and end up 2 cents at a day high $3.94 a share after late Wednesday announcing plans to sell up to 5.3 million shares of its common stock through an "at-the-market" offering program from time to time.

The maker of controlled and targeted-releasse solid dosage drug said it is seeking up to $16.8 million in proceeds from the periodic stock sales. IPCI does not have any specific plans for the new funds other than for working capital, although it will use about $800,000 to repay a related-party loan.

In other sector news,

(+) MDXG, (+5.9%) Receives an extension for the pass-through reimbursement status of its EpiFix allograft product through 2014.

(-) THO, (-0.6%) Studies by the Cleveland Clinic and other facilities released late Wednesday find patients who had the company's HeartMate II heart-assist pump implanted after March 2011 had nearly four times the risk of potentially fatal blood clots than patients getting the device before that time.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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