Top Health Care Stocks
Health care stocks rose Friday, including a more than 2.4% gain for the NYSE Health Care Index in recent trade. The shares of health care companies in the S&P 500 also were up almost 2.8% as a group while the Nasdaq Biotechnology index was climbing over 4.8%.
Among health care stocks moving on news:
(+) Myriad Genetics ( MYGN ) rose as much as 10% on Friday after the molecular diagnostics company said its GeneSight test helped improve outcomes for patients with treatment-resistant major depression, with remission rates jumping to 31% after 24 weeks. The six-month response rates hit 44% while 43% of the patients showed at least some symptom improvement.
In other sector news:
(+) Flex Pharma ( FLKS ) still was almost 40% higher in late Friday trade, easing from a more than 80% spike earlier in the session after agreeing to a merger with privately held oncology drugmaker Salarius Pharmaceuticals. Flex Pharma shareholders will own 19.9% of the combined companies at closing, which is expected before mid-year.
(+) Syneos Health ( SYNH ) was almost 10% higher in afternoon trading after the clinical research organization said it will be sharing new research and insights at the Biotech Showcase and the Digital Medicine & Medtech Showcase events beginning Monday, Jan.7, in San Francisco. The events run parallel to the J.P. Morgan Healthcare Conference also in San Francisco next week.
(+) Tandem Diabetes Care ( TNDM ) rose 7% in recent trading. The company late Thursday said it named Rebecca Robertson - the founder and managing director at Versant Ventures - as a Class II independent director on the medical device company's board.
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