Markets

Sector Update: Healthcare Shares Flat to Lower Pre-Market; Compugen Dives 16% on Offering Plans

Healthcare stocks:

JNJ: -0.07%

PFE: -0.25%

ABT: flat

MRK: flat

AMGN: flat

Healthcare shares were flat to lower in pre-market trade Friday.

In healthcare stocks news, Compugen Ltd. ( CGEN ) was down more than 16% in pre-market Friday after it started an underwritten public offering of its ordinary shares. All of the ordinary shares in the offering are being offered by Compugen. No details on size of offering were disclosed.

And, Ampio Pharmaceuticals, Inc. ( AMPE ) was also down on offering plans, with shares off more than 4%. The company priced an underwritten public offering of 8,500,000 shares of its common stock. The shares will be sold at a price to the public of $7.00 per share for gross proceeds of $59.5 million.

Finally, Dyax Corp. ( DYAX ), a biopharmaceutical company focused on developing medicines for unmet needs, nudged up after it said its Q4 net loss narrowed to $2.0 million, or $0.02 per share from $4.8 million, or $0.05 per share, a year ago as sales of its Kalbitor product rose.

Total revenues were $16.9 million, as compared to $16.0 million for the comparable quarter. Kalbitor net sales were $12.6 million from $11.8 million a year ago. Analysts' estimates weren't available.

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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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