Markets

Health Care Sector Update for 09/04/2018: APLS,REPH,BCRX

Top Health Care Stocks

JNJ -0.89%

PFE -0.46%

ABT -0.01%

MRK -0.42%

AMGN -1.99%

Health care stocks were mostly lower Tuesday afternoon, including a more than 0.7% decline for the NYSE Health Care Index in recent trading. Also, shares of health care companies in the S&P 500 were down over 0.9% as a group while the Nasdaq Biotechnology index was dropping more than 1.6%.

Among health care stocks moving on news:

(+) Apellis Pharmaceuticals ( APLS ) was more than 2% higher during Tuesday trading after saying four of the six patients with paroxysmal nocturnal hemoglobinuria who were also severely anemic and transfusion-dependent showed an increase in hemoglobin levels and for other markers for anema after being treated with a combination of Eculizumab and Apellis' APL-2 drug candidate compared with Eculizumab alson during phase Ib testing. None of the patients required a transfusion during the co-treatment period, which lasted between 17 to 20 months, Apellis said. The other two patients were removed from the trial due to pregnancy and BMI-associated comorbidities, respectively.

In other sector news:

(+) Recro Pharma ( REPH ) raced as much as 28% higher on Tuesday after saying it remains committed to its Meloxicam drug candidate and is expecting to file a new drug application for the prospective pain reliever with the U.S. Food and Drug Administration by the end of September. The upcoming resubmission will include revised labelling language for the prospective pain reliever as well as information on extractable and leachable items, the company said.

(-) BioCryst Pharmaceuticals ( BCRX ) was back on positive ground Tuesday afternoon, climbing more than 1% and recovering from a more than 16% decline for the company's stock after saying its BCX7353 oral drug candidate demonstrated safety and efficacy across multiple endpoints in patients with hereditary angioedema suffering an acute attack compared with patients who received a placebo. BCX7353 showed an improvement in symptoms and Visual Analog Scale scores as quickly as one hour after treatment and lasting for 24 hours. Use of standard-of-care medications also fell by 31.6% among BCX7353 patients during the first 24 hours after treatment compared with the placebo group.

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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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