Healthcare stocks were slightly lower today with the NYSE Healthcare Sector Index falling about 0.2% and shares of healthcare companies in the S&P 500 were down 0.1% as a group.
In company news, Cesca Therapeutics Inc. ( KOOL ) was ending Friday with steep losses after the medical-device company priced an offering of 7.53 million shares of its common stock at $1.50 apiece, generating around $11.3 million in gross proceeds.
The company also issued five-year warrants to purchase up to 2.259 million shares of common stock with an exercise price of $1.55 per share. The offering is expected to close June 18.
KOOL shares were down 17.5% at $1.46 each in recent trade, holding 3 cents above its intra-day low. The stock has a 52-week range of 71 cents to $3.24 a share, climbing 18.7% over the past 12 months.
In other sector news,
(+) NKTR, FDA advisory panel recommends against requiring cardiovascular outcomes trials for peripherally-acting mu-opioid receptor antagonist drugs, including the company's Movantiktm drug candidate for opoid-induced constipation.
(-) OMED, Voluntarily halts patient enrollment and dosing in Phase 1 testing of vantictumab and Fzd8-Fc, its prospective monoclonal antibody cancer treatments.
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