Health Care Sector Update for 12/16/2015: HART,ACST,LAKE
Top Health Care Stocks
Health care stocks were trying to remain on positive turf this afternoon, with the NYSE Health Care Index still adding around 0.2% while shares of health care companies in the S&P 500 were up less than 0.1% as a group.
In company news, Harvard Apparatus Regenerative Technology ( HART ) rose Wednesday after the biotechnology company last night announced a $15 million stock-purchase agreement with Aspire Capital Fund LLC.
Under terms of the the deal, Aspire initially bought 500,000 shares at $2 apiece, a 5.2% premium over today's closing price for the stock, and will purchase another $14 million shares from time to time over the next 30 months at the company's choosing.
Proceeds from the stock sales will fund general corporate purposes at the company, including research and development as well as commercialization efforts for the company's bioengineered esophagus, trachea and bronchus implants, the company said.
HART shares recently were up almost 8% at $2.05 apiece, earlier climbing to a session high of $2.14 a share.
In other sector news,
(+) ACST, (+57.2%) Discloses plans to begin a bridge study of its CaPre drug candidate to treat cardiometabolic disorders following "encouraging" discussions with U.S. Food and Drug Administration.
(-) LAKE, (-18.1%) Q3 revenue climbs 6.0% over yar-ago levels to $24.9 mln, trailing the $25.5 mln estimate of the only analyst now following LAKE. Earns $0.29 per share, topping Street view by $0.03 per share.
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