Healthcare Business Review: Healthcare Realty’s Secondary Offering, Dara’s New Deals
Healthcare Realty Trust Incorporated (NYSE:HR) reports an 8 million share secondary offering of common stock. The firm had about 78 milion shares outstanding as of July 25th, and will use the proceeds to purchase healthcare facilities, along with other general purposes such as repaying debt.
Shares of Genetic Technologies Ltd. (NASDAQ:GENE) pop on word of its breast cancer treatment BREVAGen being okayed for sale in Florida. Approval of the drug in California came in July; the firm says that Florida and California combined comprise between 15 and 20 percent of breast cancer incidence in the United States.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and its partner Alios BioPharma announce that they will discontinue development of their hepatitis C virus drug candidate ALS-2158 because of disappointing results, but intend to initiate Phase II testing of ALS-2200, which is an orally administered HCV drug regimen, by the end 2012.
Shares of Dara BioSciences, Inc. (NASDAQ:DARA) move up on the announcement of completion of a series of arrangements with several specialty pharmacy suppliers, retail partners, leading group purchasing organizations, reimbursement experts, and a third-party logistics provider, which should notably reinforce its commercial scale and capabilities. The company’s distribution network is now in excess of 45,000 mail order pharmacies, retail pharmacies, and long-term care facilities.
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