Markets

Sector Update: Technologies

Healthcare shares were mixed in pre-market trade on Tuesday.

In healthcare stocks news, specialty pharmaceutical company Flamel Technologies ( FLML ) posted a sharply narrowed adjusted Q4 loss even as revenue fell, as research-and-development costs also declined.

The company reported a Q4 net profit of $5.1 million, or $0.20 per share, down from $9.1 million, or $0.36 per share, a year earlier. Excluding one-time items, it posted a loss of $58,000, or break-even earnings per share, compared with a prior-year adjusted loss of $1.2 million, or $0.05 per share. No analyst estimates were available for comparison.

And, biopharmaceutical company Sorrento Therapeutics ( SRNE ) has formed Ark Animal Therapeutics, a new wholly-owned subsidiary with initial focus on developing animal health applications and vaccines against recurrent staphylococcal infections.

Ark Animal Therapeutics will also evaluate potential opportunities to develop active vaccines against acute and recurring staphylococcal infections in dogs with chronic atopic dermatitis and dairy cows with mastitis.

SRNE was steady in Tuesday's pre-market trading . It closed at $15.74 Monday regular hours.

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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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