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Health Care Sector Update for 04/07/2015: CDTX, GLYC, MRK

Top Health-care stocks:

JNJ: flat

PFE: +0.8%

ABT: flat

MRK: flat

AMGN: +0.6%

Health-care shares were unchanged in pre-market trade Tuesday.

In health-care stocks news, biotechnology company Cidara Therapeutics ( CDTX ) filed late Monday with the SEC for an initial public offering of 4 million shares of its common stock.

It says it expects a share price of $14-16, and underwriters have an option on a further 600,000 shares.

GlycoMimetics ( GLYC ), a clinical-stage biotechnology company, on Tuesday said biopharmaceutical giant Pfizer ( PFE ) anticipates initiating a planned Phase 3 clinical trial in mid-2015 with rivipansel, is initially being developed as a potential treatment for vaso-occlusive crisis of sickle cell disease.

Shares in the company were unchanged at $8.26 during pre-market trading . Over the past 52 weeks, the company has traded between $6.02 and $16.64.

Merck ( MRK ), provider of diversified healthcare products, has formed a strategic collaboration with private biotechnology company Arvinas to study Arvinas' PROTAC protein degradation technology in order to create novel therapeutics.

Shares in the company were unchanged at $57.18 during pre-market trading. Over the past 52 weeks, the company has traded between $52.49 and $63.62.

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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