Markets

Health Care Sector Update for 02/12/2018: AXON,UTHR,NVO,FOLD,AVEO

Top Health Care Stocks

JNJ +0.53%

PFE +1.48%

ABT +0.45%

MRK +1.11%

AMGN +0.80%

Health care stocks were trading higher Monday, including a nearly 1.5% gain for the NYSE Health Care Index in recent trade. Also today, shares of health care companies in the S&P 500 were up almost 0.8% as a group while the Nasdaq Biotechnology index raced over 1.3% higher today.

Among health care stocks moving on news:

+ ZIOPHARM Oncology ( ZIOP ) advanced Monday after the genetic-based immunotherapies company presented data at an industry conference demonstrating point-of-care manufacturing of human T cells with chimeric antigen receptors have an anti-tumor effect in preclinical models. Specifically, "the data presented showed T cells expressing CD19-specific CAR with membrane-bound IL-15 (mbIL15) were generated with the non-viral Sleeping Beauty system in less than two days and did not require ex vivo activation or propagation," the company said on Monday. The T cells developed to express mbIL15 showed greater persistence and more potent antitumor activity than comparator T cells without mbIL15 in these studies, it added.

In other sector news:

+ Amicus Therapeutics ( FOLD ) rose Monday after the U.S. Food and Drug Administration granted a priority review of the company's prospective treatment for Fabry disease. The drug previously received both orphan drug designation and fast track designation from the federal agency and already is available throughout the European Union.

- AVEO Oncology ( AVEO ) was fractionally lower after the UK's National Institute for Health and Care Excellence recommended approval of its Fotivda as a first-line treatment for adults with advanced renal cell carcinoma, triggering a $2 million milestone payment to AVEO from EUSA Pharma. AVEO is eligible for up to $386 million in future research and development funding and milestone payments.

- Axovant Sciences Ltd ( AXON ) tumbled to a record low on Monday after the biotech company said CEO David Hung and chief operating officer Marion McCourt have both resigned to pursue other opportunities. Three board members - Kate Falberg, Tony Vernon and Patrick Machado - also stepped down, it said. Axovant selected Pavan Cheruvu to take over as chief executive and it also appointed former United Threapeutics ( UTHR ) co-CEO Roger Jeffs and former Novartis (NVO) CEO George Bickerstaff as new board members.

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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