Markets
JNJ

Health Care Sector Update for 01/30/2017: JNJ, PFE, ABT, MRK, AMGN, OCRX, CALA, EYEG

Top Health Care stocks:

JNJ: -0.3%

PFE: -0.7%

ABT: -0.1%

MRK: -1%

AMGN: -1.7%

Health care shares were lower at mid-day Monday.

In health care stocks news, Calithera Biosciences ( CALA ) shares surged 52.2% after it and Incyte ( INCY ) said Monday they struck a global collaboration and license agreement for the research, development and commercialization of Calithera's small molecule arginase inhibitor CB-1158 in hematology and oncology.

CB-1158 is currently being studied in a monotherapy dose escalation trial and additional studies are expected to evaluate CB-1158 in combination with immuno-oncology agents, including anti-PD-1 therapy.

Under the agreement, Calithera will receive an up-front payment of $45 million plus a $8 million equity investment from Incyte. Incyte will buy shares at a price of $4.65 each. Incyte will also receive worldwide rights to develop and commercialize CB-1158 in hematology and oncology; Calithera will retain certain rights to research, develop and commercialize certain other arginase inhibitors in certain orphan indications.

In other sector news,

(+) EYEG, (+13.9%) Reports 75% of subjects in pilot trial of its ocular bandage gel achieved complete wound closure by day three

(-) OCRX, (-68.3%) Says phase 2b study of intravenously-administered ornithine phenylacetate (OCR-002) did not show statistically significant results in the primary and secondary endpoints

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

JNJ CALA PFE ABT INCY

Other Topics

US Markets

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More