Markets

Health Care Sector Update for 03/21/2019: OGEN,NVCN,BIIB

Top Health Care Stocks

JNJ +0.67%

PFE +0.52%

ABT +0.36%

MRK +0.72%

AMGN +0.31%

Health care stocks were higher, including a 0.7% gain for the NYSE Health Care Index in afternoon trade. Shares of health care companies in the S&P 500 were up 0.2% as a group while the Nasdaq Biotechnology index was falling 1.3%.

Among health care stocks moving on news:

(-) Oragenics ( OGEN ) dropped over 26% on Thursday after biotechnology company priced a $12.5 million public offering of nearly 16.7 million shares of its common stock at $0.75 cents apiece, representing a 14% discount to Wednesday's closing price. The offering also includes short-term and long-term warrants.

In other sector news:

(+) Neovasc ( NVCN ) was 10% higher after the company said a court in Germany dismissed a case against the company filed by Edwards Lifesciences CardiAQ LLC.

(-) Biogen ( BIIB ), which was down 29% after the company and Eisai said they were ending two phase 3 trials of the Alzheimer's treatment aducanumab as an independent study said the drug was unlikely to meet its primary endpoint.

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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