Top Health Care Stocks
Health care stocks shared large gains with the technology sector this afternoon, including a 1.1% rise for the NYSE Health Care Index in late trade. Also, shares of health care companies in the S&P 500 were up more than 1.0% as a group while the Nasdaq Biotechnology index climbed more than 0.7% higher today.
Among health care stocks moving on news today:
MiMedx Group, Inc ( MDXG ) was holding on to a moderate gain Wednesday afternoon, easing from a 2% advance earlier today that followed the biotech firm beginning to enroll patients in a placebo-controlled Phase III trial of its AmnioFix Injectable drug candidate in patients with Achilles Tendonitis. The company is expecting to enroll 158 patients, with the primary efficacy endpoint being the change in visual analog scale score from the patients' baselines after 90 days.
In other sector news:
+ Juno Therapeutics ( JUNO ) jumped out to a 54% gain on Wednesday following reports Celgene ( CELG ) is talking about a potential acquisition with the cancer immunotherapies company.
+ AEterna Zentaris ( AEZS ) climbed over 48% higher on Wednesday trading after today disclosing a licensing and commercialization agreement for its Macrilen prospective test for growth hormone deficiency in adults with Strongbridge Biopharma ( SBBP ). Under terms of the new pact, AEterna Zentaris will receive a $24 mln upfront cash payment plus more milestone payments and is eligible for a 15% royalty on the first $75 mln in net sales from the United States or Canada. The royalty rises to 18% above that threshold.
+ Hologic (HOLX) was little changed, swinging between small gains and losses, after late yesterday pricing a $1 bln private placement of senior notes, consisting of $600 mln of 4.375% senior notes due 2025 at par and $400 mln of 4.625% senior notes due 2028, also at par. Net proceeds will be used to redeem $1 bln of its 5.25% senior notes due 2022.
- Curis (CRIS) turned lower today, giving back an initial advance that followed the specialty drugmaker today beginning Phase I testing of its CA-4948 drug candidate to evaluate the safety, tolerability and pharmacokinetic profile of the prospective lymphoma treatment. It also aims to identify any dose-limiting toxicities and establish the recommended Phase II dose.