Sector Update: Healthcare Stocks Finish Lower Again; Cesca Therapeutics Slides After Pricing $11.3 Mln Offering

By Staff,

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op Healthcare Stocks

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Healthcare stocks were slightly lower today with the NYSE Healthcare Sector Index falling about 0.2% and shares of healthcare companies in the S&P 500 were down 0.1% as a group.

In company news, Cesca Therapeutics Inc. ( KOOL ) was ending Friday with steep losses after the medical-device company priced an offering of 7.53 million shares of its common stock at $1.50 apiece, generating around $11.3 million in gross proceeds.

The company also issued five-year warrants to purchase up to 2.259 million shares of common stock with an exercise price of $1.55 per share. The offering is expected to close June 18.

KOOL shares were down 17.5% at $1.46 each in recent trade, holding 3 cents above its intra-day low. The stock has a 52-week range of 71 cents to $3.24 a share, climbing 18.7% over the past 12 months.

In other sector news,

(+) NKTR, FDA advisory panel recommends against requiring cardiovascular outcomes trials for peripherally-acting mu-opioid receptor antagonist drugs, including the company's Movantiktm drug candidate for opoid-induced constipation.

(-) OMED, Voluntarily halts patient enrollment and dosing in Phase 1 testing of vantictumab and Fzd8-Fc, its prospective monoclonal antibody cancer treatments.

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: KOOL

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