Sector Update: Healthcare


Healthcare shares are flat in pre-market. Biota Pharmaceuticals ( BOTA ) said its Q4 loss narrowed to $0.23 per share from $0.26 the year earlier, even as total net loss widened to $6.5 million from $5.9 million the year earlier.

Revenue increased in the quarter to $9.3 million from $7.1 million, primarily because of a $4.6 million increase in service revenue related to the advancement of laninamivir octanoate into a phase 2 clinical trial, offset in part by a decrease of $2.2 million in royalty revenue from net sales of Relenza and Inavir.

And, Sangamo BioSciences, Inc. ( SGMO ) shares are down 2% pre-market after the company announced it intends to offer and sell shares of its common stock in an underwritten public offering.

Terms of the offering are still unknown at this point, as it is subject to market conditions. All of the shares in the offering are to be sold by Sangamo.

Finally, Prima Biomed Ltd. ( PBMD ) reported top-line analysis of the CAN-003 phase 2 study of CVac for treatment of epithelial ovarian cancer patients in first or second remission.

The company said the results demonstrate that CVac was generally well tolerated, with no Serious Adverse Events considered related to protocol therapy. The majority of non-Serious Adverse Events were considered mild and transient in nature. PBMD is flat pre-market at $2.35.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: BOTA , PBMD , SGMO

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