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Sector Update: Health-Care Stocks Lower Pre-Market; Tekmira Gets $1.5 Mln Payment From Monsanto

By: MT Newswires
Posted: 7/10/2014 9:14:00 AM
Referenced Stocks: MON;RGDO

Top health-care stocks:

JNJ: -0.62%

PFE: -0.93%

ABT: flat

MRK: -0.82%

AMGN: -1.07%

Health-care shares were generally lower in pre-market trading Thursday.

Tekmira Pharmaceuticals (TKMR, TKM.TO) said it has received a $1.5 million milestone payment from Monsanto ( MON ) following the completion of specified program developments. The developer of RNA interference therapeutics said the development milestone is part of the research program under the agreement Tekmira signed with Monsanto in January. The potential value of the transaction could reach $86.2 million, following the successful completion of all program milestones. TKMR was inactive in recent pre-market trading after closing Wednesday at $10.59, in the lower half of its 52-week range between $4.81 and $31.48.

Regado Biosciences ( RGDO ), a biopharmaceutical company, reported Thursday the United States Food and Drug Administration placed a clinical hold on all patient enrollment and dosing in the ongoing Phase 3 REGULATE-PCI trial. According to the FDA, the move was intended to formalize the involvement of the FDA in any decision to re-initiate enrollment and dosing in the future. RGDO tumbled 7.4% pre-market to $2.50, nearing its 52-week low of $2.61.