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Healthcare Stocks Ending in the Red; Synthetic Biologics Rises After Outlining Trial Schedule for c. Diff Drug

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Healthcare stocks were falling Thursday with the NYSE Healthcare Sector Index off almost 0.7% and shares of healthcare companies in the S&P 500 down 0.9% as a group.

In company news, Synthetic Biologics ( SYN ) shares rose Thursday after the development-stage drugmaker reported its Q1 financial results and detailing upcoming testing of its treatment for infectious diarrhea.

The company reported a net loss of $3.84 million, or $0.07 per share, during the first three months of the year, matching analyst forecasts for the period. The company did not report any revenue.

Perhaps more important to investors, SYN said it expects to next month start a 28-day bridging toxicology study for its SYN-004 oral enzyme for the prevention of C. difficile infections. Phase Ia and Ib trials also are likely later this year, the company said, with preliminary topline data expected before the end of 2014.

SYN shares were up about 17% in recent trade, earlier climbing to a session high of $1.41 a share. The stock has a 52-week range of 95 cents to $3.64 a share, slipping 6.2% over the past 12 months.

In other sector news,

(+) GTIV, Kindred Healthcare ( KND ) goes public with $533 mln takeover bid, offering $14 a share in cash and stock - a 64% premium over GTIV's closing price last night. KND said it was willing to make an all-cash offer if GTIV board prefers.

(-) SRNE, Prices 4.765 mln shares of common stock at $5.25 apiece, marking a 21.6% discount to Wednesday's closing price.

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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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