Health Care Sector Update for 07/08/2019: SOLY,PRVL,SGMO,ITCI

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Top Health Care Stocks

JNJ +0.26%

PFE -1.33%

ABT -0.34%

MRK -1.79%

AMGN -1.98%

Health care stocks retreated Monday, with the NYSE Health Care Index sinking nearly 0.6% while the shares of health care companies in the S&P 500 also were down slightly more than 0.7% as a group. The Nasdaq Biotechnology index was falling just over 1.6%.

Among health care stocks moving on news:

(+) Soliton ( SOLY ) raced over 61% higher after the medical device company Monday said it was "excited and encouraged" by initial results from a 26-week, proof-of-concept trial for its acoustic shockwave treatment for moderate to severe cellulite. The company will announce additional details from the study next Monday, July 15, adding the early data will support the launch of a late-stage trial for the device later this summer.

In other sector news:

(+) Sangamo Therapeutics ( SGMO ) was hanging on for a slightly more than 1% gain Monday afternoon, drifting well away from its 19% rise earlier this morning. The genomic medicine company and Pfizer ( PFE ) said their experimental SB-525 gene therapy showed promising results during phase I/II testing, with the prospective treatment appearing to be largely well-tolerated in patients with hemophilia A and also demonstrating a dose-dependent increase in Factor VIII clotting.

(+) Prevail Therapeutics ( PRVL ) rose 7% after saying the US Food and Drug Administration has designated its PR001 lead gene therapy program for fast-track development and review as a potential treatment of Parkinson's disease in patients with a mutation of the GBA1 gene. The company is expecting to begin dosing patients in a phase 1/2 trial of PR001 later this year.

(-) Intra-Cellular Therapies ( ITCI ) dropped over 13% after reporting mixed results from a late-stage study of its lumateperone drug candidate, with the prospective treatment for bipolar depression meeting its primary endpoint during one phase III trial but failing to produce a statistically significant improvement in depression symptoms during a second round of testing.

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: SOLY , SGMO , PFE , PRVL , ITCI

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