Health Care Sector Update for 11/13/2017: NKTR,BMY,ARGS,AMS

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Top Health Care Stocks

JNJ -0.08%

PFE +0.04%

ABT +0.57%

MRK -0.38%

AMGN -0.28%

Health care stocks were slightly lower, with the NYSE Health Care Index falling 0.1% while shares of health care companies in the S&P 500 also were down less than 0.1% as a group.

In company news, Nektar Therapeutics ( NKTR ) raced to its highest price since December 2000 on Monday, topping out at $41.34 a share, after the specialty pharmaceuticals company said a combination of its NKTR-214 drug candidate with Bristol-Myers Squibb's ( BMY ) Opdivo cancer treatment showed potential benefit across several tumor types during Phase I/II testing.

Nektar and Bristol-Myers signed a clinical collaboration pact in September 2016 to evaluate the potential efficacy and tolerability of the NKTR-214 and Opdivo combination to treat certain types of cancer compared with the current standard of care.

A total of 38 patients were enrolled in the dose-escalation study - including 11 patients with stage IV melanoma, 20 patients with advanced renal cell carcinoma and four with non-small cell lung cancer - with responses observed in 75% of the lung cancer patients and 63% of the melanoma patients. All 38 patients are continuing treatment in the trial.

The results were presented on Saturday at the 2017 Society for Immunotherapy of Cancer Annual Meeting in suburban Washington D.C.

In other sector news,

(+) ARGS, (+30.2%) Reports Phase III trial data was "generally supportive" of the hypothesis its Rocapuldencel-T can induce an immune response against tumors in patients with metastatic renal cell carcinoma. More interim data due during first half of 2018.

(-) AMS, (-11.5%) Q3 net income of $0.02 per share drops 67% from a $0.06 per share profit during the same quarter last year. Rental income declined 5.5% from year-ago levels to $4.61 mln. No analyst estimates were available for comparison.

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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , US Markets
Referenced Symbols: NKTR , BMY , ARGS , AMS

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