Markets

Health Care Sector Update for 02/14/2017: CBIO,CYNO,HOLX,AVIR

Top Health Care Stocks

JNJ +0.40%

PFE +0.38%

MRK +1.05%

ABT +1.39%

AMGN +0.06%

Health care stocks were mostly higher this afternoon, with the NYSE Health Care Index adding about 0.5% in value while shares of health care companies in the S&P 500 were up almost 0.8% as a group.

In company news, Catalyst Biosciences ( CBIO ) slumped Tuesday after the early-stage biotech company said it expects to begin a pair of clinical trials of the company's next-generation Factor VIIa and Factor IX drug candidates in patients with hemophilia B later this year.

One trial is expected to measure the efficacy trial of its Factor VIIa marzeptacog alfa in patients with hemophilia B with inhibitors in 2017. In the other trial, Catalyst and collaboration partner ISU Abxis are planning to begin a Phase I/II proof-of-concept trial of coagulation Factor IX CB 2679d/ISU304 during the April-to-June period in patients with hemophilia B.

CBIO shares were down 16% at $7.98 apiece, earlier sinking to a session low of $7.59 a share.

In other sector news,

(+) CYNO, Agrees to $1.65 bln buyout offer from Hologic ( HOLX ), which will pay $66 for each CYNO share, a 28.1% premium over Monday's closing price.

(-) AVIR, Vapendavir drug candidate at either 264-mg or 528-mg doses fails to demonstrate a statistically significant reduction in asthma symptomscompared to placebo during Phase IIb clinical trial.

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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