Markets

Health Care Sector Update for 09/24/2015: CAPN,ARWR,WGBS

Top Health Care Stocks

JNJ -0.87%

PZE -0.95%

MRK -1.19%

ABT -1.06%

AMGN -2.03%

Health care stocks were slumping Thursday, with the NYSE Health Care Sector Index tumbling 1.5% and shares of health care companies in the S&P 500 dropping more than 1.9% as a group.

In company news, Capnia Inc. ( CAPN ) rallied Thursday after the medical equipment company announced the publication of a study supporting use of its CoSense end-tidal carbon monoxide monitor to detect damaged red blood cells in jaundiced newborns.

According to peer-reviewed data to be published in the January print issue of the journal Neonatology, CoSense correctly found evidence of hemolysis in 37% of the 100 high-risk newborns participating in the study with none of the false positive results seen with the Coombs test, the current standard method of identifying red blood cell destruction.

The company also said that of the infants tested by CoSense none required hospital readmissions compared with about 3% of the newborns who were not tested that had to return with jaundice.

CAPN shares were up over 10% at $2.65 apiece, earlier climbing to a session high of $3.16 a share. The stock had declined more than 38% over the past 12 months before Thursday's rebound.

In other sector news,

(+) ARWR, (+14.2%) Reports positive Phase IIa trial data for ARC-520 drug candidate in patients with hepatitis B, with a single 4 milligram per kilogram dose showing a mean 92% reduction in circulation of the HBV antigen.

(-) WGBS, (-8.6%) Files amended S-1 offering document for its $34.5 mln mixed-securities offering, adding details for plans to offer 2,000 units of common stock and warrants and still unspecified number of Class B units of Series 2 preferred stock and warrants.

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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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