Health Care Sector Update for 06/06/2019: MTFB,CTRV,PLX,CRON,CRON.TO

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Top Health Care Stocks

JNJ +2.08%

PFE +0.89%

ABT +2.07%

MRK +0.11%

AMGN +0.21%

Health care stocks rose Thursday, including a nearly 0.9% gain for the NYSE Health Care Index in recent trade while shares of health care companies in the S&P 500 also were up more than 0.6% as a group. The Nasdaq Biotechnology index fell over 0.8% this afternoon.

Among health care stocks moving on news:

(-) Motif Bio ( MTFB ) Thursday slid almost 49% to a record low of $1.02 a share after the early- stage biopharmaceuticals company said the US Food and Drug Administration was requiring an additional clinical trial to address concerns over potential liver toxicity with its iclaprim drug candidate to treat acute bacterial skin and skin structure infections.

In other sector news:

(+) ContraVir Pharmaceuticals ( CTRV ) rallied Thursday, climbing about 42%, after the pleiotropic drug therapy company said its CRV431 cyclophilin significantly reduced the spread of liver fibrosis compared with obeticholic acid - a semi-synthetic bile acid analogue drug - during the preclinical animal study.

(+) Protalix BioTherapeutics ( PLX ) climbed almost 35% after announcing plans to file a biologics license application for its pegunigalsidase alfa drug candidate during the first three months of 2020 under the US Food and Drug Administration's accelerated approval program. Protalix already has completed phase I/II testing and was conducting an ongoing phase III trial of the prospective treatment for Fabry's disease.

(-) Cronos ( CRON ) slid 1.5% lower, giving back a more than 1% gain earlier in Thursday's session. Stifel Nicolaus began analyst coverage of the Canadian medical and recreational marijuana company with a hold investment recommendation.

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: MTFB , CTRV , PLX , CRON

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