Health Care Sector Update for 03/13/2017: ADAP,HTBX,OSIR

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Top Health Care Stocks

JNJ +0.15%

PFE -0.30%

MRK -0.55%

ABT -1.64%

AMGN -0.52%

Health care stocks were trending lower, with the NYSE Health Care Index dropping about 0.3% while shares of health care companies in the S&P 500 also were down over 0.3% as a group.

In company news, American depository shares of Adaptimmune Therapeutics ( ADAP ) advanced Monday after the British biotech was cleared by U.S. regulators to move forward with clinical trials of its new cell manufacturing process.

The company today confirmed that the U.S. Food and Drug Administration has completed its review of its commercial-ready manufacturing process and has approved using it in its existing NY-ESO trials. The company also said it is planning to begin its first registration study with its SPEAR T-cell therapy in patients with sarcoma later this year.

Adaptimmune today also reported a net loss of $0.04 per ADS for the three months ended Dec. 31, unchanged from the year-ago period, and a 112% increase in revenue over the same quarter last year to $8.5 million. No analyst estimates were available for comparison.

It finished 2016 with around $158.8 million in cash and equivalents as well as $22.7 million in short-term deposits, which the company said should be enough to fund normal operations through mid-2018.

ADAP ADS were up more than 11% at $5.15 each, previously climbing to a session high today of $5.65 per ADS.

In other sector news,

(+) HTBX, (+17.0%) Reports a combination of its HS-110 drug candidate and Bristol-Myers-Squibb's nivolumab met its primary safety endpoint during Phase Ib testing, with five of 15 patients treated with the drug combo also experiencing a 20% or greater reduction in tumor size.

(-) OSIR, (-16.7%) Nasdaq late Friday issues delisting notice and suspends trading of the company's stock, effective with the start of trading on Tuesday, March 14. Company expects its common stock will be quoted on the Pink OTC Markets system.

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: ADAP , HTBX , OSIR

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