Health Care Sector Update for 04/16/2015: CLRX,MMMS,MNOV,PCRX
Top Health Care Stocks
Health care stocks were narrowly mixed with the NYSE Health Care Sector Index falling about 0.1% and shares of health care companies in the S&P 500 rising 0.1% as a group.
In company news, shares of health care software company CollabRx ( CLRX ) rose Thursday after agreeing to a stock swap with Medytox Solutions ( MMMS ), giving the laboratory services firm a 90% stake of the combined companies.
The companies did not immediately disclose the exchange ratio for CLRX and MMMS shares.
During the 12 months ended Dec. 31, MMMS generated $15.7 million in net income from operations on $57.9 million in revenue. CLRX posted a $4.3 million net loss and $415,000 in revenues during the past period last year.
CLRX shares were up almost 11% at $1.16 each, earlier climbing to a session high of $1.26 a share. The stock has traded within a 52-week range of $0.51 to $3.36 a share, slipping nearly 68% over the past 12 months through Wednesday's close.
MMMS also was higher, notching a 2% advance to $4.29 a share, matching its session high.
In other sector news,
(+) MNOV, (+48.4%) FDA grants Fast Track designation for its MN-001 drug candidate for the treatment of patients with nonalcoholic steatohepatitis with fibrosis.
(-) PCRX, (-9.7%) Receives Justice Department subpoena seeking documents linked to the company's Exparel painkiller.
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