Sector Update: Healthcare; AEterna Zentaris Reports Earnings
Healthcare stocks were mostly advancing in afternoon trading, with the S&P/TSX Healthcare index gaining 0.5%.
Valeant Pharmaceuticals (VRX.TO): +0.3%
Catamaran (CCT.TO): +2.7%
Concordia Healthcare (CXR.TO): -5.2%
AEterna Zentaris (AEZ.TO): +1.8%
Oncolytics Biotech (ONC.TO): -4.8%
In corporate news, AEterna Zentaris late Thursday said it swung to a net loss of $4.4 million, or $0.08 per diluted share, in Q1 ended March 31, 2014 from a net income of $1.9 million, or $0.07 per diluted share, a year earlier. The specialty biopharmaceutical company had no revenue during the period due to the non-recurring, accelerated recognition of remaining unamortized deferred revenue related to an upfront payment received from a licensing partner following the termination of related R&D activities. Revenue last year was $6.1 million.
Cash and cash equivalents totaled $45.8 million as at March 31, 2014, compared to $43.2 million as at December 31, 2013.
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