Top Healthcare Stocks
Healthcare stocks are slightly higher this afternoon, with the
NYSE Healthcare Sector Index rising less than 0.1% while shares of
healthcare companies in the S&P 500 are up about 0.1% as a
In company news, MiMedx Group Inc. (
) is up 22.6% at $4.72 a share, bouncing back from losses as steep
as 50% late Wednesday that followed the company's confirming
receipt of an "Untitled Letter" from the U.S. Food and Drug
Administration questioning whether its Amnion/Chorion Injectable
products are eligible to be sold in the U.S.
The company said it expressly disagrees with the agency's
position in the letter, adding it is talking to FDA officials in a
bid to resolve the matter as quickly as possible. As explained on
the FDA's website, an untitled letter "cites violations that do not
meet the threshold of regulatory significance for a Warning
The company also reiterated its expected revenue for FY13 of $54
million to $60 million and its goal for FY14 revenue of $90 million
to $110 million. Revenue from the company's injectable are
projected to make up about 15% of FY14 revenues, it said.
The company's guidance is in-line with the consensus estimates
forecasting $58.76 million for FY13 and $99.77 million for FY14,
according to Capital IQ.
In other sector news,
(+) POZN, (+9.9%) Inks pact with Sanofi (
) to commercialize its investigational tablets combining aspirin
and omeprazole to treat secondary heart disease symptoms, with POZN
receiving $15 mln in upfront payments.
(-) AGEN, (-24.0%) Said a potential melanoma treatment it is
developing with GlaxoSmithKline (
) failed to meet its primary endpoint of extending patient survival
during Phase II testing.
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