Healthcare shares are mixed in pre-market trade.
Biopharmaceutical company Aratana Therapeutics (
) has acquired Vet Therapeutics, Inc., a San Diego-based company
with a proprietary antibody-based biologics platform.
Under the agreement, ARTX will pay to Vet Therapeutics' equity
holders at the closing $30 million in cash, issue 625,000 shares of
common stock and issue a promissory note for $3 million with a
maturity date of Dec. 31, 2014. PETX is up 0.04%.
And, Molecular diagnostic company Myriad Genetics, Inc. (
) said that the results from a verification study showed its myPath
Melanoma test effectively differentiated malignant melanoma from
benign skin lesions. MYGN is flat at $22.77 in pre-market
The verification study evaluated a 23-gene panel designed to
differentiate malignant melanoma from benign skin lesions. The
myPath Melanoma test demonstrated high sensitivity of 89% and
specificity of 93% at differentiating malignant melanoma from
benign skin lesions.
MYGN closed at $22.77 on Friday and touched 52-week low
Finally, St Jude Medical (
) is up more than 4% this morning after it said it has completed
the acquisition of Nanostim, a privately-owned developer of
miniaturized, leadless pacemakers, for a total of $123.5
A further $65 million in cash may be payable if the company hits
certain revenue-based milestones. St Jude said that aside for
acquisition-related costs, the purchase won't affect its 2013 EPS
The company also said it recently received CE Mark approval for
Nanostim's leadless pacemaker, which is designed to be implanted
directly into the heart via a minimally invasive procedure. The
device will soon be available in European markets.