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Health Care Sector Update for 02/02/2017: STML,BNTC,STML

Top Health Care Stocks

JNJ -0.19%

PFE -0.17%

MRK +0.39%

ABT +3.06%

AMGN -0.58%

Health care stocks were falling Thursday, with the NYSE Health Care Index dropping about 0.4% while shares of health care companies in the S&P 500 also were down 0.4% as a group.

In company news, shares of Stemline Therapeutics ( STML ) slumped Thursday after TheStreet.com columnist reported the early-stage biotech company's SL-401 drug candidate demonstrated robust tumor response but also produced severe side effects now linked to three patient deaths.

TheStreet.com biotech blogger Adam Feuerstein today wrote investors participating in a $45 million stock sale last month were not told a cancer patient in a clinical trial of SL-401 died the day before from capillary leak syndrome, a potentially deadly side effect of the drug that can cause severe drops in blood pressure.

Feuerstein said while Stemline has not yet publicly reported the incident, he was able to confirm it with a member of the patient's family. The company previously reported two other patient deaths from the side effect and had increased safety monitoring and added new dosing rules to reduce the odds of large amounts of plasma and other blood components leaking from blood vessels into the body cavity and causing blood pressure to plummet.

The company refused to confirm or deny the report when contacted by TheStreet.com.

STML shares were down over 37% at $6.08 each after recently falling to a session low of $5.95 a share.

In other sector news,

(+) BNTC, (+121.5%) Reports "significant" progress with its ddRNAi technology and the potential treatment of various ocular diseases. Results will be reported at in industry conference Feb. 5 in Brisbane, Australia.

(-) HEB, (-36.3%) Begins $1 mln registered direct offering of stock at 55 cents per share, a 14% discount to Wednesday's closing price.

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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