Markets
DGX

Health Care Sector Update for 02/13/2017: SGNL,DGX,ZSAN,AXON

Top Health Care Stocks

JNJ +0.49%

PFE +0.76%

MRK +1.01%

ABT +1.00%

AMGN -0.13%

Health care stocks still were higher in late Monday trading, with the NYSE Health Care Index rising about 0.5% while shares of health care companies in the S&P 500 were up 0.6% as a group.

In company news, Signal Genetics ( SGNL ) slumped Monday after shareholders at the molecular genetic diagnostic company late Friday voted to approve the upcoming merger of their company with Miragen Therapeutics.

Under terms of the merger proposal, Miragen stockholders will receive 0.7031 of a Signal share of Signal for each Miragen share they now own. Once the deal closes, Miragen shareholders will own about 96% of the combined companies.

Signal shareholders on Friday also voted to approve issuing more of its common stock, a name change to Miragen Therapeutics as well as a 1-to-15 reverse stock split the sale of the company's MyPRS assets to Quest Diagnostics ( DGX ).

Miragen investors also will provide $40.7 milliom in new funding to the combined companies soon after the upcoming closing, increasing its cash balance to around $61.7 million.

SGNL shares were down almost 16% at $12.20 apiece, earlier sinking to a session low of $10.20 a share.

In other sector news,

(+) ZSAN, Says migraine patients treated with a 3.8-mg dose of its M207 lead product candidate achieved both of its co-primary endpoints of blocking pain and most bothersome symptoms two hours after receiving transdermal injections during a recently completed late-stage trial.

(-) AXON, Announces preliminary results from the first 11 patients in a Phase II study of the company's nelotanserin drug candidate to treat dementia, observing beneficial treatment effect on the Unified Parkinson's Disease rating scale.

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

DGX ZSAN

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