Health Care Sector Update for 06/20/2019: ABUS,DMAC,EDSA,IDXG

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Top Health Care Stocks

JNJ +0.96%

PFE +0.20%

ABT +0.58%

MRK -0.88%

AMGN +0.58%

Health care stocks were still rising this afternoon, including a nearly 0.3% gain for the NYSE Health Care Index while shares of health care companies in the S&P 500 also were up almost 0.4% as a group. The Nasdaq Biotechnology index was climbing about 0.5%.

Among health care stocks moving on news:

(+) Arbutus Biopharma ( ABUS ) jumped over 36% higher after the specialty drugmaker said it has cleared by an unnamed "regulatory body" to start phase Ia/Ib testing of its AB-729 prospective treatment for hepatitis B after submitting a revised trial protocol. Arbutus also will first need to complete three- and six-month toxicology studies before beginning the single ascending-dose portion of the early-stage study.

In other sector news:

(+) Edesa Biotech ( EDSA ) soared 75% on Thursday after the US Food and Drug Administration said the company could proceed with phase IIb testing of its EB01 drug candidate, a sPLA2 inhibitor intended to treat chronic allergic contact dermatitis. Edesa is expecting to begin enrollment during the next quarter after manufacturing enough EB01 to supply the mid-stage trial.

(+) DiaMedica Therapeutics ( DMAC ) climbed 27% after the biopharmaceuticals company late Wednesday reported encouraging interim results from phase Ib testing of its DM199 drug candidate in patients with moderate to severe chronic kidney disease. DM199 was safe and well tolerated with no drug-related serious adverse events, consistent with earlier DM199 studies in healthy volunteers, the company said, adding pharmacodynamic results from the early-stage trial helped identify the dosing range for future studies.

(+) Interpace Diagnostics Group ( IDXG ) was 10% higher in late Thursday trade after Independence Blue Cross agreed to cover the costs of the diagnostics company's ThyGeNEXT and ThyraMIR tests for thyroid cancer for its members in Philadelphia and southeastern Pennsylvania.

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: ABUS , EDSA , DMAC , IDXG

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