Health Care Sector Update for 10/30/2017: GBT,CRME,COM.TO,PSTI

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Top Health Care Stocks

JNJ -0.79%

PFE -1.12%

ABT -1.59%

MRK -5.96%

AMGN -0.27%

Health care stocks were falling sharply today, with the NYSE Health Care Index dropping more than 0.9% while shares of health care companies in the S&P 500 also were down over 0.9% as a group.

In company news, Global Blood Therapeutics ( GBT ) rose over 14% on Monday, reaching a session high of $39.30 a share after the specialty pharmaceuticals company said a recent case study of its Voxelotor drug candidate demonstrated a positive effect in a patient with sickle cell disease as well as severe and symptomatic anemia.

The patient had been ineligible to participate in the company's ongoing phase III trial of Voxelotor due to severe, transfusion-refractory anemia, and instead received the investigational treatment through a single-patient compassionate access.

The patient was treated with 900 milligrams of Voxelotor once daily, showing a rapid response by the second week of treatment and also demonstrating less pain and fatigue and improved mental health. The patient also saw his hemoglobin levels rise quickly, showing a sustained increase over a 15-month span.

In other sector news,

(+) CRME, (+9.1%) Begins commercial launch of it Xydalba drug treatment of acute bacterial skin and skin structure infections in three more European countries - Sweden, Finland and Ireland. Xydalba previously was approved by the FDA in 2014.

(-) PSTI, (-17.3%) Discloses plans for a $14.5 million public offering of up to 9 million shares on the Tel Aviv Stock Exchange priced at a minimum $1.61 apiece - a 18.3% discount to Friday's closing price after Israeli institutional investors agree to accept commitments to buy 7.1 million shares also at $1.61 each, or $11.4 million total.

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: GBT , PSTI

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