Markets

Health Care Sector Update for 08/31/2018: RUBY,BGNE,QDEL,RETA

Top Health Care Stocks

JNJ -0.32%

PFE -0.06%

ABT -0.34%

MRK -0.04%

AMGN -0.54%

Health care stocks were ending mostly lower this afternoon, including a more than 0.4% decline for the NYSE Health Care Index in recent trade. Also, shares of health care companies in the S&P 500 were down almost 0.1% as a group while the Nasdaq Biotechnology index was rising just less than 0.1%.

Among health care stocks moving on news:

(+) Rubius Therapeutics ( RUBY ) rose as much as 3% this afternoon, recovering from a nearly 3% decline previously in Friday trading after the biotechnology company reported a 166% increase in its net loss during its first quarter as a publicly traded entity compared with year-ago levels. It had produced no revenue during the quarter, as expected.

In other sector news:

(+) BeiGene ( BGNE ) rose more than 1% on Friday after the company said China's National Medical Products Administration accepted the new drug application for its tislelizumab anti-PD-1 antibody as a potential treatment for patients with relapsed or refractory classical Hodgkin's lymphoma. The anti-PD-1 antibody currently is being evaluated in a number of malignancies during Phase III testing following several clinical and non-clinical trials previously, including a pivotal Phase II trial in Chinese Hodgkin's patients.

(+) Quidel ( QDEL ) has been see-sawing between moderate gains and losses on Friday, climbing almost 1% in recent trading, after the diagnostic testing company said it has received 510(k) clearance from U.S. regulators for its Sofia 2 fluorescent immunoassay analyzer to test for Lyme disease. The test uses one side of a bi-directional test strip to detect the IgM antibody associated with Lyme disease from a whole blood finger-stick and the other side of the test strip to detect the IgG antibody.

- Reata Pharmaceuticals ( RETA ) was back on negative ground this afternoon, giving back a 4% rise to a record high of $89.77 earlier Friday after the biotech company received a $30 million milestone payment from Kyowa Hakko Kirin after beginning Phase III testing in May of its bardoxolone methyl drug candidate in Japanese patients with diabetic kidney disease.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

QDEL RETA RUBY BGNE

Other Topics

US Markets