Health Care Sector Update for 07/19/2016: NAVB,CERU,SCLN

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Top Health Care Stocks

JNJ +1.7%

PFE +0.2%

MRK -0.7%

ABT -1%

AMGN -0.5%

Health care stocks were declining Tuesday afternoon, with the NYSE Health Care Index slumping 0.4% while shares of health care companies in the S&P 500 also were down about 0.5% as a group.

In company news, Navidea Biopharmaceuticals ( NAVB ) shares were climbing Tuesday afternoon and the specialty drugmaker today saying officials at the University of California medical school in San Francisco have approved plans for a clinical study of the company's Lymphoseek radioactive diagnostic agent to identify rheumatoid arthritis in pre-identified affected joints.

The study is expected to begin enrolling patients shortly. Additionally, Navidea has received approval from the Western Institutional Review Board to expand this study to other study sites at the company's discretion.

NAVB shares were up over 10% in recent trading at 57 cents apiece, previously climbing to a session high of 64 cents a share.

In other sector news,

(+) CERU, (+16.1%) FDA grants Fast Track designation for CRLX101 drug candidate as a potential treatment of platinum-resistant ovarian carcinoma, fallopian tube or primary peritoneal cancer in combination with paclitaxel.

(-) SCLN, (-21.6%) Said it no longer is in active discussions with suitors about a potential acquisition. Sees FY16 EPS of $0.70 to $0.74, trailing year-ago profit by at least $0.26 per share. Projects revenue growth of 3.6% or less.

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: NAVB ,

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