Markets

Sector Update: Healthcare

Healthcare stocks are nudging higher in late trade with the NYSE Healthcare Sector Index climbing 0.2% while shares of healthcare companies in the S&P 500 are up 0.1% as a group.

In company news, CytRx Corporation ( CYTR ) is down 18.6% in late trade after the drug-maker priced an underwritten offering of 10 million shares of its common stock at $2.25 a share, generating around $22.5 million in gross proceeds.

Net proceeds will fund clinical trials of the company's aldoxorubicin oncology drug candidate.

In other sector news,

(+) ATEC, (+5.7%) Sees Q3 revenue rising 7% year over year to $50.1 mln, topping Street estimates by $1.64 mln, with solid unit volume gains in core hospital business and higher surgeon uptake across various product line in the U.S.

(-) ARIA, U.S. Food and Drug Administration places a partial hold on new patient enrollments in clinical trials for its Iclusig drug candidate after some patients suffered from blood closts and other serious side effects.

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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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