Healthcare stocks ended lower Wednesday with the NYSE Healthcare
Sector Index declining about 0.4% and shares of healthcare
companies in the S&P 500 falling about 0.3% as a group.
In company news, Sangamo BioSciences Inc. (
) closed lower Wednesday despite mostly positive preclinical data
demonstrating gene correction in SCID-X1 human hematopoietic stem
cells published today in a professional journal.
The company announced the publication in Nature of data
demonstrating efficient zinc finger nuclease-mediated, targeted
gene insertion that resulted in correction of the genetic defect in
stem cells from an individual with X-linked severe combined
Importantly, the study demonstrates that the treatment
successfully targets a class of hematopoietic stem cells (HSCs)
that are responsible for the long term repopulation of the bone
marrow following transplant. The data support the clinical
translation of this approach for SCID-X1, other immunodeficiencies
and monogenic diseases.
Shares were off 1.6% at $13.33 each, closing just 2 cents above
their intra-day low.
In other sector news,
(+) MDXG, Boosts FY14 revenue outlook by $10 mln over prior
forecast to new range of $100 mln to $110 mln, in-line with $100.44
mln consensus. Raises bottom of Q2 guidance by $1 mln to a range of
$22.5 mln to $23.5 mln, matching Street view looking for $23.06
(-) AGN, Valeant Pharmaceuticals (VRX,VRX.TO) raises cash
component of its buyout offer by $10 a share, increasing overall
bid to $49.44 mln. New bid also includes contingent value rights
that could add as much as $7.6 million to the deal.
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