Top Health Care Stocks
Health care stocks closed higher this afternoon, with the NYSE Health Care Index climbing around 1.7% while shares of health care companies in the S&P 500 advanced 1.8% as a group.
In company news, Cancer Genetics ( CGIX ) rose Friday after the biotech company late Thursday received Bankruptcy Court approval to purchase Response Genetics in a deal expected to add between $10 million to $12 million in revenue each year.
Cancer Genetics will pay $14 million for Response Genetics, consisting of $7 million in cash and 788,584 shares of its common stock.
CGIX shares finished 0.4% higher at $7.88 each.
In other sector news,
(+) XNPT, Decides to focus on new drug treatment for restless leg syndrome while dropping work on a prospective treatment for psoriasis after it showed high rates of side effects. CEO Ronald Barrett steps down.
(-) FOLD, Said it does not expect to sumbit a new drug application for its Migalastat monotherapy for Fabry disease before the end of the year after the FDA asks for additional data.
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