Top Health Care Stocks
Health care stocks were mostly higher, including a 0.4% gain for the NYSE Health Care Index (^NYP) in recent trade. Also today, shares of health care companies in the S&P 500 ( XLV ) were up 0.37% as a group while the Nasdaq Biotechnology (^NBI) index was losing over 1.6% today.
Among health care stocks moving on news:
+ Applied DNA Sciences Inc ( APDN ) jumped over 13% higher on Thursday after saying it signed license and supply deals with film coatings supplier Colorcon for the use of its SigNature molecular tags for Colorcon's product offerings. Under terms of the deals, Applied DNA is providing Colorcon with exclusive global rights to use its molecular tags and authentication technologies in film coatings for solid oral dosage form applications along with non-exclusive rights to ink and colorant technologies for solid oral dosage uses. Applied DNA also is eligible to receive milestone payments and long-term royalties on sales. The agreements follow a memorandum of understanding announced last December and run through Oct. 1, 2032, or following the final expiration date of any patent licensed under the agreements.
In other sector news:
- Apricus Biosciences ( APRI ) declined on Thursday, slipping almost 3%, after saying it has closed on a $3.55 million public offering of 7.1 million shares of its common stock priced at 50 cents apiece. Investors participating in the deal also received five-year warrants to buy up to 3.55 million additional shares, also at 50 cents each, which will become exercisable after Apricus shareholders approve a proposal doubling the company's authorization to 60 million shares. Aprius is expecting to use the net proceeds for working capital and general corporate purposes.
- Conatus Pharmaceuticals ( CNAT ) lost nearly a third of its former value on Thursday, dropping almost 33% and falling to within 16 cents of its 52-week low of $3.88 a share, after saying its emricasan drug candidate failed to produce a statistically superior response after more than two years of Phase IIb testing in post-liver transplant patients with fibrosis or cirrhosis compared with patients in the placebo group. Despite the disappointing results with the overall patient populatoin, Conatus said the response rate in several patient subgroups were extremely encouraging - reaching as high as 95% and performing up to 44.7 percentage points better than the respective placebo subgroup - and support further evaluation.