Health Care Sector Update for 02/14/2019: OMER,INO,MDGS,MTFB
Top Health Care Stocks
Health care stocks were extending their Thursday advance, including a nearly 0.8% gain for the NYSE Health Care Index in late-afternoon trade. Shares of health care companies in the S&P 500 also were up almost 0.5% as a group while the Nasdaq Biotechnology index also was climbing slightly more than 0.4%.
Among health care stocks moving on news:
(+) Omeros ( OMER ) more than 8% after the US Food and Drug Administration streamlined the process evaluating the efficacy of its OMS721 anti-body to treat hematopoietic stem cell transplant-associated thrombotic microangiopathy. Under the revised criteria, the agency now considers a response-based analysis as the most appropriate assessment, with overall and 100-day survival becoming the secondary endpoints of the late-stage study.
In other sector news:
(+) Medigus ( MDGS ) climbed 6% on Thursday after the Israeli medical device company disclosed plans to expand its product portfolio to include cannabidiol and other medical cannabis products in jurisdictions outside the United States.
(-) Inovio Pharmaceuticals ( INO ) tumbled 20% after Thursday pricing a $65 million private placement of 6.5% convertible senior notes due 2024. The notes have an initial conversion rate of $5.38 per share, or 185.8045 shares per $1,000 of principal amount of the notes, subject to adjustment following certain events.
(-) Motif Bio ( MTFB ) plunged 72% to a worst-ever $2.61 per share after the US Food and Drug Administration rejected the new drug application for the company's iclaprim drug candidate, asking for more data to evaluate the potential risk of liver toxicity for the prospective antibiotic treatment for acute bacterial skin and skin structure infections.
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