sank 6.4% to $13.17 Thursday after the company said it priced a public offering of 3.25 million shares at approximately $13.20 a share.
shares sank on preliminary results showing that sales of its eye drug Visudyne, which it co-markets with
, fell nearly 29%.
Novartis shares were 2.5% lower to $58.06. QLT's shares were up 4 cents to $8.74 after falling earlier in the day.
Sales of Visudyne as well as
drug Macugen have taken a hit since the approval of
eye drug Lucentis in June.
Shares of medical appliance manufacturer
plummeted 14.3% to $20.01 after the company announced fourth-quarter revenue that fell short of expectations.
The company earned $5.3 million, or 37 cents a share, in the fourth quarter, including a $3.4 million tax benefit, down from 43 cents a share in the year-ago quarter. While revenue was up 25% to $7.68 million in the quarter, analysts surveyed by Thomson First Call were expecting revenue of $8.94 million.
sank 4.7% to $8.20 after the stock was downgraded to hold from buy by analysts at Roth Capital.
"We prefer to reduce to a Hold rating at this time until further progress is achieved" in the company's research pipeline, wrote analyst Mark Taylor. He maintains a 12-month price target of $9.
Among other health care winners Thursday were
, up 2% to $52.58;
, 1.3% higher to $24.84;
, rising 1.2% to $45.53;
, gaining 3.4% to $54.40; and
, whose shares jumped 12.5% to $2.70.
Among the losers were
, falling 3.5% to $11.48;
, off 1.3% to $12.01;
, down 2.6% to $13.12;
, losing 1.2% to $12.73; and
, down 1.8% to 9.81.