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Health Care Sector Update for 04/08/2015: RGLS,AZN,EYES,AEMD

Top Health Care Stocks

JNJ +0.02%

PZE +0.32%

MRK +0.93%

ABT +0.12%

AMGN +1.47%

Healthcare stocks were mostly higher, with the NYSE Healthcare Sector Index rising 0.7% and the S&P Healthcare Index posting an 0.8% gain.

In company news, Regulus Therapeutics Inc. ( RGLS ) rallied Wednesday after last night saying AstraZeneca ( AZN ) will take over development of its RG-125 drug candidate for the treatment of non-alcoholic steatohepatitis in patients with type 2 diabetes, triggering a $2.5 million milestone payment to RGLS.

RG-125 is the first compound developed by RGLS to be selected by AZN for potential commercialization under the companies' strategic partnership.

The companies said they soon plan to submit key preclinical data for RG-125 for review at a scientific meeting later this year and expect to begin Phase I testing in humans by the end of the year.

RGLS shares were up more than 13% at $18.04 each, backing down from an earlier run to $18.83 a share. The stock has traded within a 52-week range of $5.40 to $25.60 a share, already rising over the past 12 months before Wednesday's surge.

AZN shares were ahead almost 1% at $70.07 apiece this afternoon.

In other sector news,

(+) EYES, (+12.6%) Performs first successful implant of its Orion I visual cortical prosthesis in an animal study. Fully functional prototypes are expected to be completed later this year with active animal implants scheduled to begin during the first three months of 2016.

(-) AEMD, (-22.4%) Files with state regulators in Nevada plans for a 50-to-1 reverse split of the company's stock to be effective on Friday, April 10. Company also applies for a listing on the Nasdaq Capital Market.

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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