Health Care Sector Update for 06/18/2018: CBIO,PTCT,ZIOP

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Top Health Care Stocks

JNJ -1.35%

PFE -.88%

ABT -0.49%

MRK -1.39%

AMGN -0.86%

Health care stocks were deep underwater, including a more than 0.9 decline for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were down over 1.0% as a group while the Nasdaq Biotechnology index was losing nearly 0.9%.

Among health care stocks moving on news:

- Catalyst Biosciences ( CBIO ) lost more than half its formal value on Monday, falling just over 59% to a session low of $10.34 a share, after saying it has stopped dosing patients in phase I/II testing of its prospective hemophilia drug after a transient neutralizing antibody was found in the bloodstream of one patient and a neutralizing antibody was detected in a second trial participant. The discoveries followed Catalyst's South Korean collaborator, ISU Abxis, adding a sixth cohort to the early- to mid-stage trial of the company's CB 2679d/ISU304 drug candidate with patients receiving a single intravenous dose and followed by nine daily subcutaneous doses. Prior to the new cohort, no CB 2679d neutralizing antibodies had been found in any of the treated patients. Catalyst said it was trying to determine the cause and potential impact of the antibodies prior to continuing with the daily dosing in Cohort 6.

In other sector news:

+ PTC Therapeutics ( PTCT ) advanced almost 30% on Monday after Saturday presenting updated interim clinical data from part 1 of a study of its risdiplam (RG7916) drug candidate in babies with Type 1 spinal muscular atrophy, saying more than 90% of the babies at Day 182 showed a greater than 4-point increase in a measurement of neurological activities compared with their baseline scores. Video also showed antigravity movements, the ability to control their head, roll, or sit in babies participating in Firefish. Part 2 of the study is ongoing.

- Ziopharm Oncology, Inc. ( ZIOP ) slumped Monday, dropping over 18% in recent trading, after the US Food and Drug Administration placed on clinical hold phase I testing of the company's CD19-specific CAR-T therapies. Ziopharm said it will, together with its partners, address the FDA request for additional data, adding the trial launch may be delayed.

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: CBIO , PTCT , ZIOP

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