Markets

Health Care Sector Update for 01/23/2017: MRNS,MDGS,APTO

Top Health Care Stocks

JNJ -0.04%

PFE -0.50%

MRK -0.15%

ABT -0.63%

AMGN -1.01%

Health care stocks were moderately lower in recent trade, with the NYSE Health Care Index dropping about 0.3% while shares of health care companies in the S&P 500 also were down 0.3% as a group.

In company news, Marinus Pharmaceuticals ( MRNS ) rallied Monday after the early-stage biotech company reported positive preliminary data from phase II testing of its ganaxolone drug candidate in four patients with a genetic disorder causing difficult-to-control seizures, and neuro-developmental impairment.

After receiving up to 1,800 milligrams per kilogram of ganaxolone per day over an average of five months, the four CDKL5 patients saw an average 67% reduction in the frequency of seizures compared with their baselines, the company said this weekend at the American Epilepsy Society's annual meeting. Enrollment in the study is continuing and Marinus is expecting to report top-line trial data by mid-year.

MRNS shares were up over 30% at $1.51 apiece, earlier climbing over 61% to reach a session high of $1.87 a share.

In other sector news,

(+) MDGS, (+15.2%) Innovamedica SpA, a privately held medical-device distributor in Italy, makes its first purchase of the company's Muse system during the companies' existing distribution agreement.

(-) APTO, (-27.5%) Temporarily delays clinical testing of its APTO-253 drug candidate to determine the cause of recent manufacturing setbacks related to the intravenous formulation of the prospective cancer treatment.

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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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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