Health care stocks were generally chopped down in late Wednesday’s trade, with the NYSE Health Care Sector Index waning about 0.5% and shares of health care companies in the S&P 500 falling about 1.4% as a group.
Following the healthcare sector drowning trend, Pacific Biosciences of California, Inc. (NASDAQ:PACB), Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), Cleveland BioLabs, Inc. (NASDAQ:CBLI), Gilead Sciences Inc. (NASDAQ:GILD), Advaxis, Inc. (NASDAQ:ADXS) shares also tumbled.
Major News Stock: Gilead Sciences Inc. (NASDAQ:GILD), tumbled 8.16% to close at $98.43, soon after the major news disclosed by a biopharmaceutical company, that it gave health insurers steeper-than-expected discounts on its hepatitis C drugs, fueling worries that the broader sector would face increasing price pressure. On the other hand, the company also declared that the company’s Board of Directors has certified a dividend program under which the company intends to pay quarterly dividends of $0.43 per share, starting in the second quarter of 2015, subject to quarterly declarations by the Board of Directors.
Gilead Sciences Inc. (NASDAQ:GILD), is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company’s mission is to advance the care of patients suffering from life-threatening diseases worldwide.
Bottom Decliner: Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB), plunged nearly 18.25% and closed at $6.81 in Thursday’s pre-market activity moving within a 52-week trading range of $3.87 - $8.78, as Pacific Biosciences, stated an 85% raise in proceed to $16.9 million for the fourth quarter ended December 31, 2014, contrast to $9.1 million for the fourth quarter of 2013. Fourth quarter 2014 proceed reflects the delivery of 15 PacBio(R) RS II Sequencing instruments, contrast to five instruments during the fourth quarter of 2013. The Company also booked orders for 10 instruments during the period, ending the quarter with 15 in backlog.
Pacific Biosciences of California, Inc. (PACB) offers the PacBio(R) RS II Sequencing System to assist scientists resolve genetically complex problems. Based on its novel Single Molecule, Real-Time (SMRT(R)) technology, the company’s products enable: de novo genome assembly to finish genomes in order to more fully identify, annotate and decipher genomic structures.
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), dropped sharply 16.90% to close at $12.05, holding the market capitalization of $1.21B. The company has 52-week range of $2.45 - $16.87. Its intraday range is $11.65 - $13.08.
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), a biopharmaceutical company, discovers, develops, and commercializes anti-infective drug therapies in the United States and internationally. It focuses on developing combination therapies for the treatment of chronic hepatitis C (HCV) infection and resistant bacterial infections.
Shares of the Cleveland BioLabs, Inc. (NASDAQ:CBLI), dipped 13.19% & closed at $3.16, soon after a biotechnology company, declared that it has reached definitive contracts with two institutional investors to purchase a total of $4.2 million of equity securities of the Company. The closing of the offering is predictable to take place on or about February 6, 2015, subject to the satisfaction of customary closing conditions. Ladenburg Thalmann & Co. Inc., a partner of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), acted as exclusive placement agent in connection with the offering.
Cleveland BioLabs, Inc. (NASDAQ:CBLI), is an innovative biopharmaceutical company seeking to develop first-in-class pharmaceuticals designed to address diseases with noteworthymedical need.
Advaxis, Inc. (NASDAQ:ADXS), dwindled 11.56% to close at $7.73, holding the market capitalization of $182.77M. The company has 52-week range of $2.46 - $13.74. Its intraday range is $7.56 - $8.75.
Advaxis, Inc. (NASDAQ:ADXS), a clinical stage biotechnology company, focuses on the discovery, development, and commercialization of Lm-LLO cancer immunotherapies in the United States.
