Markets

Health Care Sector Update for 02/23/2015: RIGL, CLDX, GEVA

Top Health-care stocks:

JNJ: +0.2%

PFE: -0.9%

ABT: flat

MRK: +0.2%

AMGN: flat

Health-care shares were generally leaning positive in pre-market trade Monday.

In health-care stocks news, Rigel Pharmaceuticals ( RIGL ) shares surged in recent pre-market trade after announcing it is collaborating with Bristol-Myers Squibb ( BMY ) on discovery, development and commercialization of cancer immunotherapies based on Rigel's extensive portfolio of small molecule TGF beta receptor kinase inhibitors.

Shares in the company were trading 43.5% higher at $3.66 during pre-market trading . Over the past 52 weeks, the company has traded between $1.56 and $5.00.

Celldex Therapeutics ( CLDX ) shares also jumped after the company said the U.S. Food and Drug Administration (FDA) had granted its rindopepimut product Breakthrough Therapy Designation for the treatment of adult patients with EGFRvIII-positive glioblastoma (GBM).

Shares in the company were trading 13.2% higher at $24 during pre-market trading. Over the past 52 weeks, the company has traded between $10.76 and $33.33.

And Synageva BioPharma ( GEVA ) said the U.S. Food and Drug Administration has accepted for priority review the biologics license application for its Kanuma treatment of lysosomal acid lipase deficiency.

Priority review shortens the regulatory review period and is reserved for investigational therapies that treat serious conditions and, if approved, would provide a significant improvement in safety or effectiveness compared to available therapies.

Shares in the company were unchanged at $102.45 during pre-market trading. Over the past 52 weeks, the company has traded between $60.19 and $122.88.

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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