Sector Update: Healthcare Shares Flat Pre-Market; Sangamo Drops 2% on Pricing Public Offering

By Staff,

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Top Healthcare stocks:

JNJ: +0.30%

PFE: flat

ABT: flat

MRK: +0.49%

AMGN: flat

Healthcare shares were generally flat in pre-market trade Friday.

In healthcare stocks news, EntreMed ( ENMD ) reported a wider net loss in Q4 than the year earlier, mainly because it didn't receive royalties from the sale of Celgene's ( CELG ) leprosy skin sores drug Thalomid.

The clinical-stage pharmaceutical company said its Q4 loss was $1.3 million or $0.05 per share compared to $0.4 million or $0.02 per share the year earlier. The company had no sales in the quarter, which it said was expected, compared to $0.7 million in royalties from Thalomid the year earlier. No analyst estimates were available for comparison.

And, Sangamo Biosciences ( SGMO ) shares slipped nearly 2% in recent pre-market trading on Friday after the biopharmaceutical company late Thursday priced its brokered public offering of 4.4 million common shares at $22.50 each, for gross proceeds of $100 million.

Underwriters have also been granted a 30-day option to buy an additional 666,666 shares of common stock.

Net proceeds from the offering will be used for working capital and general corporate purposes.

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
Referenced Stocks: ENMD , CELG , SGMO

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