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Sector Update: Healthcare

By: MT Newswires
Posted: 8/13/2013 8:10:00 AM
Referenced Stocks: CBLI;COV

Healthcare shares are flat to higher in pre-market trade. Cleveland BioLabs ( CBLI ), a biotechnology company focused on oncology, reported that its Q2 net loss halved to $0.07 from $0.14 a year earlier.

Revenue for the second quarter of 2013 increased to $1.6 million, compared to $0.3 million for the prior year's second quarter. The stock closed at $1.70 Monday in a 52-week range of $1.23 - $2.95.

And, Covidien ( COV ), which makes healthcare products, said it has expanded its radiofrequency catheter range with the launch of a new line to treat Barrett's esophagus and some gastrointestinal disorders.

The product is called the Barrx Channel RFA Endoscopic Catheter. Covidien is unchanged pre-market and is trading close to the top of its 52-week range of $47.31 - $64.10.