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Health Care Sector Update for 06/19/2018: VIVE,PSTI,CANF,SNY


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Health care stocks have turned narrowly mixed this afternoon, including a nearly 0.3% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were up almost 0.1% as a group while the Nasdaq Biotechnology index was rising almost 1.3% today.

Among health care stocks moving on news:

- Viveve Medical ( VIVE ) has turned sharply lower Tuesday afternoon, reversing an opening 9% advance this morning that followed the medical device company late Monday reporting positive six-month data from an ongoing single-arm feasibility study using its cryogen-cooled, monopolar radiofrequency treatment for mild-to-moderate stress urinary incontinence in women. According to the company, women in the study saw a 73% reduction in symptoms from a baseline as measured by a standardized assessment six months after treatment. Viveve now plans two more clinical registration trials prior to seeking regulatory approvals in the United States and other foreign jurisdictions.

In other sector news:

+ Can-Fite Biopharma ( CANF ) advanced on Tuesday after reporting positive results from Phase II testing of its namodenoson drug candidate (CF102) in patients with advanced hepatocellular carcinoma whose disease progressed during sorafenib therapy. According to the biopharmaceutical company, 19 of the the 78 patients originally enrolled in the study completed at least 12 cycles of namodenoson treatment, including three patients who completed at least 24 cycles. One patient has been receiving study medication for about three years. Accumulated data also so far points to a favorable safety profile, the company said, with no clinically significant novel or emerging events to the drug.

- Sanofi ( SNY ) was falling in recent Tuesday trading, slipping about 1%, after the drugmaker said it has named Jean-Baptiste Chasseloup de Chatillon to be its new chief financial officer, succeeding Jerome Contamine after he retires on Sept. 30. Chasseloup de Chatillon most recently was CFO at the PSA Group.

- Pluristem Therapeutics ( PSTI ) declined about 2% on Tuesday despite announcing a new collaboration agreement with the U.S. Department of Defense and the U.S. Army Medical Research Institute of Chemical Defense to study the company's PLX-R18 cell therapy product to treat long-term lung injuries following exposure to mustard gas. The Pentagon also has tapped Pluristem to study the effectiveness of PLX-R18 as a countermeasure for acute radiation syndrome by the U.S. armed forces.

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: VIVE , CANF , SNY , PSTI


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