Health Care Sector Update for 01/05/2018: CMRX,TIG,OHRP

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Top Health Care Stocks

JNJ +0.75%

PFE +0.14%

ABT +0.29%

MRK -0.16%

AMGN +0.60%

Health care stocks were mostly higher in recent trading, including a 1.0% gain for the NYSE Health Care Index. Also today, shares of health care companies in the S&P 500 were up more than 0.9% as a group while the Nasdaq Biotechnology index was almost 0.2% lower today.

Among health care stocks moving on news today:

+ Chimerix ( CMRX ) advanced Friday, rising over 6% to a session high of $5.25 a share, after the specialty drugmaker today began a comparative study intending to demonstrate the superior antiviral effects of its ibrincidofovir drug candiate in children facing life-threatening adenovirus infections following organ transplants. If successful, the upcoming trial results will be used to seek marketing approval for ibrincidofovir from European regulators and could also support the company's bid for an accelerated review of the drug by the U.S. Food and Drug Administration.

In other sector news:

+ TiGenix ( TIG ) jumped almost 72%, touching a record $41.00 a share on Friday, after Japanese drugmaker Takeda Pharmaceutical Co Ltd made a $626.5 mln takeover offer for the Belgian biotech company. The TiGenix board fully supports the bid, the company said, subject to review of the final bid prospectus.

- Ohr Pharmaceuticals ( OHRP ) plunged during Friday trade, losing as much as 83% of its former value, after the ophthalmic drugmaker said topical applications of its squalamine product candidate combined with monthly injections of Lucentis failed to improve vision in patients with wet age-related macular degeneration than patients treated with Lucentis alone.

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: CMRX , OHRP

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