Healthcare stocks were higher Tuesday with the NYSE Healthcare
Sector Index advancing about 0.8% and shares of healthcare
companies in the S&P 500 also climbing about 1.0% as a
In company news, TG Therapeutics Inc. (
) retreated Tuesday after the biotech reported a wider Q2 net loss
compared with year-ago levels.
Net loss during the three months ended June 30 rose to $12.0
million, or $0.36 per share, from its $6.6 million net loss last
year. Analysts were modeling a $0.24 per share loss. Revenue was
little changed at $38,095.
It finished the quarter with around $51.2 million in cash, cash
equivalents, investment securities and interest receivables, up
from $45.4 million at December 31.
TGTX shares were down nearly 13% at $8.38 apiece, earlier
sliding to an intra-day low of $8.26 a share.
In other sector news,
(+) HSTM, Q2 net income of $0.08 per share beats by $0.01.
Revenue climbs 33.1% year over year to $42.5 mln, topping consensus
view by around $1.5 mln. Expects 26% to 29% revenue growth during
FY14; the Street is expecting 25.8% growth.
(-) CBAY, Prices follow-on public offering of 4 mln shares of
its common stock at $5.50 each, a 7.9% discount to Monday's closing
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