Markets

Health Care Sector Update for 03/06/2018: MRNS,CLSD

Top Health Care Stocks

JNJ -1.10%

PFE -0.68%

ABT -0.28%

MRK -0.65%

AMGN -0.23%

Health care stocks were sharply lower, including a more than 0.8% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were down nearly 0.5% as a group while the Nasdaq Biotechnology index was losing more than 0.1%.

Among health care stocks moving on news:

- Marinus Pharmaceuticals ( MRNS ) tumbled Tuesday, dropping almost 18% to a session low of $4.32 a share, after the specialty drug-maker reported an $0.80 per share FY17 net loss, improving on a net loss of $1.47 per share during the prior-year period but still missing the two-analyst consensus call expecting a $0.71 per share net loss last year. The early-stage company did not generate any revenue during its FY17, as expected.

In other sector news:

+ Clearside Biomedical ( CLSD ) climbed more than 20% on Tuesday, hitting a session high of $12.45 a share, after the early-stage drugmaker said it has enrolled the first patient in a Phase II trial of a combination of its suprachoroidal CLS-TA product candidate with one of two intravitreal anti-VEGF agents, Lucentis or Avastin, in patients with macular edema associated with retinal vein occlusion. The new study will assess the safety and efficacy of CLS-TA, with a primary objective of determining the proportion of patients regaining corrected visual acuity iof at least 15 letters better than their baseline levels after eight weeks. Several secondary efficacy and safety endpoints also will be evaluated, the company said.

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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