Top Healthcare Stocks
Healthcare stocks scratched out small gains near today's close,
reversing earlier losses, with the NYSE Healthcare Sector Index
climbing about 0.1% and shares of healthcare companies in the
S&P 500 rising less 0.2% as a group.
In company news, Celladon Corp (
) was enjoying an outsized boost Wednesday afternoon after
disclosing a real estate deal for a new headquarters with a nearly
four-fold increase in available space for the biotech company.
Under a May 28 sublease agreement with Brandes Investment
Partners LP, the company will rent 10,908 square feet of new office
space in San Diego, replacing its current headquarters and its
2.270 square feet of space.
CLDN is committed to its current headquarters, also in San
Diego, until November 2017 although it has secured a sublease with
an unidentified third party for the remainder of that lease. The
new sublease begins July 1 and runs through the end of April 30,
2022 with an early termination clause allowing it to shelve the
pact after 53 months.
Initial rent is $31,000 a month, rising 3% annually, according
to regulatory filing by the company today.
CLDN shares were up more than 17% at $9.26 apiece late in
today's session, earlier climbing to a session high of $9.93 a
share. The stock has a 52-week range of $7.45 to $17.16 a share,
slipping about 1% through yesterday's close since pricing its
initial public offering of 5.5 million shares at $8 each in
In other sector news,
(+) MNKD, Extending gains on high volume ahead of July 15
decision by an FDA advisory panel on the company's Afrezza inhaled
(-) AGN, Extending losses to a second day following a combined
9% rise on Friday and Monday after Valeant Pharmaceuticals
(VRX,VRX.TO) boosted its buyout offer to around $53.8 billion.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.