Health Care Sector Update for 10/04/2018: ACST,ACST.V,ALNY,TLRY

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Top Health Care Stocks

JNJ -0.49%

PFE -0.02%

ABT Flat

MRK -0.52%


Health care stocks still were flat to lower in Thursday's early session.

Among health care stocks moving on news:

(+) Acasti Pharma Inc. (ACST,ACST.V) was rising almost 8% in US pre-market trading after the Canadian biotech company late Wednesday disclosed plans for a public offering of its common stock. Acasti did not say how many shares it expects to sell in the upcoming offering but it said it would provide underwriters participating in the stock sale with a 30-day option to buy an unspecified number of additional shares.

In other sector news:

(=) Alnylam Pharmaceuticals ( ALNY ) was flat in Thursday early trading after saying its lumasiran drug candidate showed potential as a prospective treatment for primary hyperoxaluria type 1, a rare condition characterized by recurrent kidney and bladder stones. Lumasiran demonstrated a mean maximal reduction in urinary oxalate during phase I/II testing, Alnylam said, adding patients also experienced a mean maximal decrease of 76% in the ratio of urinary oxalate to creatinine.

(-) Tilray Inc ( TLRY ) was falling more than 4% ahead of Thursday's opening bell after the medical and recreational cannabis grower late Wednesday disclosed plans for a $400 million private placement of convertible senior notes due 2023. Net proceeds from the upcoming offering will be used to repay a $9.1 million mortgage loan with the remaining funds used for general corporate purposes, including potential acquisitions.

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: ALNY , TLRY , ACST

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