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Sector Update: Healthcare

Posted
9/25/2013 8:00:00 AM
By: MT Newswires
Referenced Stocks:AMRN;GEVA;OPHT

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.