Health Care Sector Update for 06/14/2018: NVAX,TLGT,SNOA

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Top Health Care Stocks

JNJ -0.24%

PFE -0.19%

ABT +0.43%

MRK -1.0%

AMGN +0.58%

Health care stocks were moderately higher Thursday, including a more than 0.2% gain for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were up nearly 0.3% as a group while the Nasdaq Biotechnology index was rising almost 0.7% Thursday.

Among health care stocks moving on news:

+ Novavax ( NVAX ) was hanging on to a slim rise Thursday afternoon, giving back a large slice of a more than 4% gain earlier in the session that followed the early stage vaccine company reporting positive results from a phase I/II trial comparing in older adults its Matrix- M adjuvanted nanoparticle seasonal influenza vaccine candidate with the IIV3-HD egg-based, high-dose influenza vaccine now in the market. The study showed Hemagglutination inhibition immune responses were 28% to 64% greater against homologous and four generations of drifted wild-type A(H3N2) influenza strains. Novavax now plans to begin a phase II trial later this summer.

In other sector news:

+ Teligent ( TLGT ) rallied Thursday after the US Food and Drug Administration late Wednesday approved the new drug application for its Diflorasone diacetate 0.05% anti-inflammatory ointment. The regulatory nod was the company's fifth so far this year. It is expecting a commercial launch of the new ointment later this summer.

- Sonoma Pharmaceuticals' ( SNOA ) was more than 21% lower in recent Thursday trading after reporting a fiscal Q4 net loss of $0.93 per share in Q4 compared with a $0.57 per share loss during the same quarter last year and missing the Capital IQ consensus by $0.28 per share. Revenue fell to $3.66 million from $4.03 million a year ago, also lagging the $4.5 million estimate.

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: NVAX , TLGT , SNOA

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