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Health Care Sector Update for 09/06/2017: CBIO,VSTM,PULM

Top Health Care Stocks

MSFT -0.15%

AAPL -0.09%

IBM +0.62%

CSCO +0.89%

GOOG +0.10%

Health care stocks were trying to extend their earlier gain this afternoon, with the NYSE Health Care Index climbing about 0.4% this afternoon while shares of health care companies in the S&P 500 also were up more than 0.5% as a group.

In company news, Catalyst Biosciences ( CBIO ) jumped to a nearly 40% gain on Wednesday, topping out at $4.74 a share after the early-stage biotech company today reported positive clinical data from the first cohort of an ongoing, proof-of-concept trial of its CB2679d drug candidate in individuals with severe hemophilia B.

CB 2679d contains the next-generation coagulation Factor IX variant and is being evaluated for its ability to spontaneous bleeding below the skin in individuals with hemophilia B.

Based on the initial Phase I/II results, an intravenous dose of CB 2679d is about 22 times more potent than an intravenous dose of another hemophilia treatment, BeneFIX, as measured by activity levels using a one-stage clotting assay. The drug candidate also remained in circulation for 34 hours compared with just 25 hours for BeneFIX, the company said.

In other sector news,

(+) VSTM, Duvelisib drug candidate meets primary endpoint during Phase III testing in patients with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma, demonstrating superiority extending progression-free survival compared with another drug, ofatumumab.

(-) PULM, Licenses its PUR0200 drug candidate to treat chronic obstructive pulmonary disease to the U.K.'s Vectura Group (VEC.L), which will now be responsible for all future development costs. Pulmatrix also receives $1 mln technology-access fee.

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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