Health Care Sector Update for 10/18/2016: CCXI,ABEO,ICCC

Shutterstock photo

Top Health Care Stocks

JNJ -2.60%

PFE +0.98%

MRK +1.04%

ABT +1.53%

AMGN +0.30%

Health care stocks were broadly higher in afternoon trade, with the NYSE Health Care Index climbing more than 1.2% while shares of health care companies in the S&P 500 were up 1.3% as a group.

In company news, ChemoCentryx ( CCXI ) advanced Tuesday after the biopharmaceutical company said its CCX872 drug candidate outperformed a placebo as well as another prospective treatment for non-alcoholic steatohepatitis also in development during in vivo testing.

CCX872 demonstrated significant reductions in fibrosis and scarring in patients with the fatty liver disease caused by chronic inflammation, according to data presented at American College of Gastroenterology annual meeting that began on Friday, Oct. 14 and extending through Wednesday.

CCXI shares were up more than 7% at $6.22 each, easing slightly from a recent session high of $6.38 a share.

In other sector news,

(+) ABEO, (+14.2%) Receives orphan drug designation by European regulators for its ABO-102 gene therapy in patients with Sanfilippo syndrome type A.

(-) ICCC, (-16.0%) Launches $3.5 mln private placement of 659,880 shares of its common stock at $5.25 each. Also said it expects lower Q3 results from the year-ago period.

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

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , US Markets
Referenced Symbols: CCXI , ABEO , ICCC

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by