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Health Care Sector Update for 06/13/2017: PSDV,NURO,GNMK

Top Health Care Stocks

JNJ +0.52%

PFE +0.12%

ABT +1.06%

MRK -0.50%

AMGN -0.35%

Health care stocks were extending prior gains, with the NYSE Health Care Index climbing nearly 0.4% while shares of health care companies in the S&P 500 were up 0.3% as a group.

In company news, pSivida Corp ( PSDV ) declined Tuesday, dropping as much as 17% to a session low of $1.73 a share despite the specialty drugmaker's saying its Durasert drug candidate met its primary endpoint of preventing the recurrence of posterior uveitis during a late-stage clinical trial.

According to the company, only 21.8% of the uveitis patients treated with Durasert saw a recurrence of their disease within six months of their treatment compared with a 53.8% recurrence rate for patients in the control group.

Based on the results of the recent trial, pSivida said it expects to file a market authorization application for Durasert with European regulators by the end of June and submitting a new drug application to the U.S. Food and Drug Administration before the end of the year.

In other sector news,

(+) NURO, (+7.9%) U.S. authorities issue new patent covering the company's novel mechanisms to help users of its Quell medication safely obtain pain relief therapy over prolonged time periods.

(-) GNMK, (-8.4%) Begins $65 mln public offering of its common stock. Net proceeds will be used to fund general corporate activities and commercialization efforts.

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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