Top Health Care Stocks
Health care stocks continued to decline on Thursday, with the NYSE Health Care Index dropping almost 0.3% in late trade while shares of health care companies in S&P Health Care index were down nearly 0.1% as a group. The Nasdaq Biotechnology index was falling about 1.5%.
Among health care stocks moving on news:
(-) Aimmune Therapeutics ( AIMT ) dropped 8% after the Institute for Clinical and Economic Review Thursday challenged the efficacy of its AR101 drug candidate to treat peanut allergy. Aimmune fought back against the ICER conclusions, saying its study failed to include positive data showing the value of desensitization therapies and also said the group discounted patient and community opinion. An FDA advisory panel is scheduled to review the biologics license application for AR101 on Sept. 13.
In other sector news:
(+) Fresenius Medical Care ( FMS ) climbed 3% after the dialysis services and products company said White House efforts to promote kidney health announced Wednesday supports its existing corporate strategy. In particular, Fresenius said it agrees with the administration's plans to expand access to home dialysis, noting its recent merger with NxStage added one of the most popular hemodialysis machines for home use to its product portfolio.
(-) Sunesis Pharmaceuticals ( SNSS ) fell 4% on Thursday after the biopharmaceuticals company priced a $20 million public offering of 33.3 million shares of its common stock at 60 cents apiece, marking a 28.6% discount to Wednesday's closing price. It also sold 8,333 shares of its Series F non-voting convertible preferred stock at $600 each per share and generating another $5 million in gross proceeds.
(-) Eyenovia ( EYEN ) dropped 17% after the ophthalmic biopharmaceuticals company Thursday priced a $12.2 million public offering of nearly 4.4 million shares at $2.78 apiece, marking a 10% discount to Wednesday's closing price for its stock. The company plans to use the net proceeds to help fund clinical testing of its MicroProst and MicroPine product candidates.