Health Care Sector Update for 07/11/2019: SNSS,FMS,EYEN

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Top Health Care Stocks

JNJ -1.47%

PFE -2.9%

ABT +0.23%

MRK -5.8%

AMGN -2.85%

Health care stocks were declining Thursday, including a nearly 0.6% retreat for the NYSE Health Care Index in recent trade while shares of health care companies in S&P Health Care index also were down 0.6% as a group. The Nasdaq Biotechnology index was falling 1.7%.

Among health care stocks moving on news:

(-) Sunesis Pharmaceuticals ( SNSS ) fell 7% 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.

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.

(-) Eyenovia ( EYEN ) dropped 12% after the ophthalmic biopharmaceuticals company 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.

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: SNSS , FMS , EYEN

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