Health Care Sector Update for 06/23/2016: BSPM, OGEN, ATRA

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Top Health Care Stocks

JNJ +0.33%

PFE +0.03%

MRK +0.96%

ABT +0.70%

AMGN +1.46%

Health care stocks rose, with the NYSE Health Care Index jumping 0.8% while shares of health care companies in the S&P 500 were up 0.9% as a group.

In company news, Biostar Pharmaceuticals Inc. ( BSPM ) tumbled Thursday after the specialty drugmaker reported a wider Q1 net loss compared with year-ago levels as revenue plunged almost 90% from the same quarter last year.

Net loss during the three months ended March 31 grew to $620,341, or $0.28 per share, expanding on a $160,104 net loss, or $0.07 per share, last year. Net sales dropped 88.4% from the year-ago period to $801,000 from $6.91 million in sales during the first three months of 2015. No analyst estimates were available for comparison.

BSPM shares were down nearly 16% at $3.37, staying within relatively close range of their session low at $3.26 a share.

In other sector news,

(+) OGEN, Sells consumer probiotics business to ProBiora Health for $1.7 mln plus up to $2 mln in contingency payments.

(-) ATRA, European regulators classify the company's EBV-CTL drug candidate to treat Epstein-Barr syndrome as an advanced therapy medicinal product, falling within the definition of a somatic cell therapy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: BSPM , OGEN , ATRA

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