Healthcare stocks are higher today with the NYSE Healthcare
Sector Index rising 0.5% and shares of healthcare companies in the
S&P 500 climbing 0.6% as a group.
In company news, Receptos (
) fell today, last trading down 4.7% lower at $27.40 a share - just
10 cent above its intra-day low - after the biopharmaceutical
company disclosed plans to sell up to $75 million in stock,
according to a new S-1 filing with regulators.
RCPT expects to use net proceeds from the offering to fund
continued development of its RPC1063 product candidate in ongoing
clinical trials in patients with multiple sclerosis. It also
intends to use our existing cash and cash equivalents as well as
our access to funds available the company's credit facility to fund
In other sector news,
(+) HITK, Agrees to $25 mln settlement with State of Texas over
product prices. Amount had previously been set aside.
(-) ORMP, Enters into definitive agreements with certain
investors to buy 1.58 million shares of common stock at $10.00
apiece in a registered direct offering.
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