Sector Update: Healthcare


Healthcare shares are flat in pre-market, while Biopharmaceutical company Amarin Corporation plc ( AMRN ) said that the number of patients enrolled in its REDUCE-IT cardiovascular outcomes study of Vascepa (icosapent ethyl) capsules has surpassed 6,000.

The REDUCE-IT study will evaluate the effectiveness and safety of Vascepa (icosapent ethyl) capsules, as an adjunct to optimized statin therapy, in reducing the incidence of first major cardiovascular events in a patient population at high risk for such events.

AMRN edged up by $0.02 to $6.42 in pre-market trade.

And, Ophthotech ( OPHT ) said it has priced its initial public offering of 7.6 million shares at $22.00 per share. Underwriters have a 30-day option to buy an additional 1.14 million shares. Ophthotech will start trading on the Nasdaq Global Select Market today under the ticker symbol OPHT.

Finally, Syngeva BioPharma ( GEVA ) said it has priced a 2.75 million public share sale at $56.63 per share, in line with yesterday's closing price.

Underwriters have the option to buy an additional 412,500 shares.

GEVA added 0.25% to $56.77 in after-hours trade yesterday. The stock is trading at the top end of its 52-week range between $38.58 and $58.00.

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: AMRN , GEVA , OPHT

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