Fortress Biotech Inc FBIO:NASDAQ

Last Price$0.91Cboe Real-Time Last Sale as of 11:39AM ET 1/31/23
Cboe Real-Time Quotes
Realtime quote and/or trade prices are not sourced from all markets
Today's Change-0.02(2.02%)
Bid (Size)$0.91 (100)
Ask (Size)$0.93 (100)
Day Low / High$0.90 - 0.93
Volume134.2 K

Sector Update: Health Care Stocks Stumble Through Tuesday Trading

4:12PM ET 5/31/2022 MT Newswires
Health care stocks continued to lose ground Tuesday afternoon, with the NYSE Health Care Index sinking 1.2% and the SPDR Health Care Select Sector ETF (XLV) down by 1.4%.

The Nasdaq Biotechnology index was down 3.2% in late trading.

In company news, Silk Road Medical (SILK) climbed 2.9% after the medical device company Tuesday said it has negotiated a new, five-year loan with Oxford Finance consisting of a $200 million, five-year term loan and up to $50 million in additional borrowing through a revolving line of credit also maturing in five years.

Insulet (PODD) declined 9.3% on Tuesday after DexCom (DXCM) tried to squash market speculation it was pursuing a potential acquisition of the insulin-delivery device manufacturer, stating it was "not in active discussions regarding a merger transaction at this time." Insulet shares rose 8.5% last week after Bloomberg, citing unnamed sources, said a deal was possible "in the coming weeks." Dexcom was rising 3.1% in late trading.

Mesa Laboratories (MLAB) fell 4% after the medical disposables company reported a net loss of $0.34 per share for its Q4 ended March 31, reversing a $0.74 per share profit during the year-ago quarter and trailing the three-analyst mean expecting Q4 earnings of $0.48 per share on a GAAP basis.

Fortress Biotech (FBIO) slid 5.3% after Tuesday saying it dosed the first patient in a Phase I trial of its Dotinurad drug candidate to treat gout. Fortress struck a licensing deal in May 2021 with Fuji Yakuhin to commercialize Dotinurad in North America and Europe after Japanese regulators in 2020 approved it as a once-daily oral therapy for gout and hyperuricemia.