Health Care Sector Update for 07/13/2016: JUNO,IMPR,AVGR

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Top Health Care Stocks

JNJ +0.04%

PFE +0.10%

MRK -0.71%

ABT -0.02%

AMGN -0.60%

Health care stocks were posting small gains in early afternoon trade Wednesday, with the NYSE Health Care Index adding about 0.3% while shares of health care companies in the S&P 500 were up aboutr 0.1% as a group.

In company news, Juno Therapeutics ( JUNO ) was surging Wednesday after federal regulators late Tuesday lifted their clinical hold on phase II testing of its JCAR015 drug candidate to treat acute lymphoblastic leukemia.

Under the revised protocol, the trial will continue enrollment using JCAR015 with cyclophosphamide pre-conditioning only. The U.S. Food and Drug Administration last week suspended the trial after two patient deaths that followed the addition of fludarabine to the pre-conditioning regimen.

JUNO shares were up nearly 16% at $32.15 each, easing from a prior session high of $35.00 a share.

In other sector news,

(+) IMPR, (+31.2%) Agrees to be acquired by private equity firm Thoma Bravo for $544 mln, or $19.25 a share in cash, a 33% premium over Tuesday's closing price.

(-) AVGR, (-39.6%) Sees Q2 revenue rising 57% over last year to $4.7 mln, trailing Street view by at least $1 mln. Cuts projected FY16 revenue to $19 mln to $24 mln, down $6 mln from prior view and lagging analyst consensus by at least $4.3 mln.

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: AVGR

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