Health Care Sector Update for 06/16/2017: SGEN,CLSN,IDXG

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Top Health Care Stocks

JNJ +0.94%

PFE +0.30%

ABT +0.17%

MRK -0.32%

AMGN -1.05%

Health care stocks were maintaining small gains Friday, with the NYSE Health Care Index posting a nearly 0.4% advance while shares of health care companies in the S&P 500 were down less than 0.1% as a group.

In company news, Seattle Genetics ( SGEN ) were edging higher in late Friday trading, rising just over 1%, after its partner developing a potential cancer medication today reported encouraging preliminary data from Phase I/II testing of the antibody-drug conjugate.

Danish biotech company Genmab A/S today said roughly one-third - or 11 of 34 - of the evaluable patients with cervical cancer who received 2.0 milligrams of the companies' tisotumab vedotin drug candidate per kilogram of body weight every three weeks showed a clinical response with a median treatment period of 4.9 months. Another seven patients were still undergoing treatment or in follow-up for progression.

Seattle Genetics has a co-development option under a license and collaboration agreement with Genmab it can exercise at the end of the current safety-evaluation trial.

In other sector news,

(+) CLSN, Withdraws registration statement for a follow-on Form S-1 public offering of almost 2.5 mln common shares plus warrants to buy up to 4.1 mln additional shares.

(-) IDXG, Prices $13.8 mln public offering of 12.5 mln shares of common stock at $1.10 apiece, a 28% discount to Thursday's closing price. Deal also includes five-year warrants to buy up to 12.5 mln more shares and exercisable at $1.25 a share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: SGEN , CLSN , IDXG

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