HHealthcare stocks were mostly higher this afternoon, with the NYSE Health Care Index and the SPDR Health Care Select Sector ETF (XLV) both up 1.5%.
The Nasdaq Biotechnology index climbed 1.4%.
In company news, Chimerix (CMRX) rose nearly 12% after announcing a new contract worth up to $25.3 million to supply its smallpox drug Tembexa to the Agency for public health in Canada. The deal is expected to close ahead of Chimerix’s planned $315 million sale of Tembexa’s rights to Emergent BioSolutions (EBS).
Bausch Health Companies (BHC) rose nearly 20% after the eye care company said CEO Joseph Papa had resigned from his board seat despite a positive vote on Tuesday that saw shareholders sack him in the 12-member panel but also attracting “no” votes from 17% of the shares cast at the company’s annual meeting. Hedge fund manager John Paulson has been selected to serve on Papa’s board, effective immediately.
Babylon Holdings (BBLN) slid 8.6% after the digital healthcare company said Thursday night that it had issued more than 3.9 million of its Class A shares in exchange for outstanding warrants to buy nearly 14.9 million shares of Babylon. The company now plans to exchange 0.2655 shares for all of its outstanding warrants next month.
BioSig Technologies (BSGM) fell 22.5 after the medical device company on Friday offered a $3.5 million public offering of 4.67 million common shares at $0.75 each, or 25% less than Thursday’s closing price.
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