Healthcare stocks are lower with the NYSE Healthcare Sector
Index sinking 1.0% and shares of healthcare companies in the
S&P 500 also falling 1.0% as a group.
In company news, Kythera Biopharmaceuticals Inc. (
) is down 0.75% at $45.20 a share, bouncing back from a slide as
low as $43.48 that followed the drug-maker filing registration
documents to sell $100 mln of its shares.
At its current stock price, the deal would result in KYTH
issuing around 2.21 million shares, diluting current shareholders
by around 11.8%.
KYTH said it plans to use proceeds from the proposed offering on
additional testing and commercialization of its ATX-101 drug
candidate to treat submental fat, more commonly known as a double
In other sector news,
(+) ARWR, Stock climbs to best level in a year and a half after
the biotech company prices a $60 million private placement of
stock, funding another trial of its ARC-520 drug candidate to treat
the hepatitis B virus.
(-) CVM, Prices $17.8 mln public offering of common stock and
warrants at $1 per unit.