Health Care Sector Update for 11/14/2017: MTX,SNMX,EKSO

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Top Health Care Stocks

JNJ +0.01%

PFE +0.33%

ABT -0.57%

MRK -0.24%

AMGN -0.83%

Health care stocks were ending mostly underwater today, with the NYSE Health Care Index slipping more than 0.1% while shares of health care companies in the S&P 500 were down over 0.4% as a group.

In company news, Mirati Therapeutics ( MRTX ) retreated Tuesday, declining nearly 17% today to a session low of $12.90 a share, after the early-stage oncology company last night said it was revising its drug-development program to capitalize on recent encouraging data for its sitravatinib and KRAS drug candidates.

The company said it is expecting to file an investigational new drug application with federal regulators by the end of 2018 for its line of medications targeting KRAS G12C mutations. It also has selected clinical lead and backup compounds from the KRAS program and will limit additional investment in its glesatinib program and will instead try to find partners to help fund that program.

According to the company, a combination of sitravatinib and nivolumab demonstrated durable responses during early-stage testing in patients with non-small cell lung cancer, a patient population currently facing a poor prognosis for long-term survival and limited treatment options.

It also is expecting to release Phase II data from the drug combination by mid-2018 from testing in patients with checkpoint refractory non-small cell lung cancer along with Phase Ib proof-of-concept data for sitavatinib as a single agent in genetically selected lung cancer patients.

In other sector news,

(+) SNMX, Expands Cool Program collaborative agreement with Firmenich, providing the privately held fragrance and flavors company with an exclusive license for its Coolmyx CL19 cooling ingredients in exchange for $10 mln upfront payment and unspecified royalties between 2018 to 2020 and resuming in 2021.

(-) EKSO, Announces plans for a special meeting for shareholders to vote on increasing the number of authorized common shares by 70 mln to a new total of more than 141.4 mln shares. Investors also will vote to boost the number of shares available for an employee equity grant program.

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: MRTX , MTX , EKSO

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