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.

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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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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