Markets

Health Care Sector Update for 02/06/2015: PTLA,CBM,ATNM

Top Health Care Stocks

JNJ -1.03%

PZE +0.83%

MRK +0.33%

ABT +0.07%

AMGN -0.12%

Health care stocks were moderately lower, with the NYSE Health Care Sector Index sinking 0.3% and shares of health care companies in the S&P 500 dropping 0.3% as a group.

In company news, Portola Pharmaceuticals ( PTLA ) rose Friday after an independent panel monitoring the company's Phase III testing of its betrixaban drug candidate determined the trial should continue without any modifications.

The independent data monitoring committee made its decision after evaluating preliminary efficacy trends and safety reports from the study seeking to measure the ability of the anticoagulant to prevent blood clots in acutely ill patients following surgery.

The trial is more than 65% enrolled at over 450 locations world-wide, with the company expecting to complete enrollment by the end of 2015 and reporting top-line results early next year.

PTLA shares were up more than 12% at $30.94 apiece, easing from a session high of $31.54 a share earlier today. The stock has traded within a 52-week range of $19.59 to $32.49 a share, already rising more than 6% over the past 12 months prior to Friday's advance.

In other sector news,

(+) CBM, (+30.0%) Q4 EPS of $0.89 beats analyst estimates by $0.39 per share. Revenue rises 25.5% over year-ago levels to $129.3 mln, beating Street view by $9.84 mln. Issues upside FY15 guidance.

(-) ATNM, (-25.7%) Prices public offering of $3.33 mln four-year warrants to buy additional stock at $6.50 apiece and 4.44 mln shares. Combined price at $4.50 per unit.

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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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