Markets

Health Care Sector Update for 10/15/2018: INO,CGC,WEED.TO,TNDM,SNGX

Top Health Care Stocks

JNJ +0.43%

PFE -0.79%

ABT -0.46%

MRK +0.02%

AMGN -0.18%

Health care stocks were ending narrowly mixed this afternoon, including a slightly more than 0.1% gain for the NYSE Health Care Index in recent trade. Also, shares of health care companies in the S&P 500 were down almost 0.3% as a group while the Nasdaq Biotechnology index was slipping over 0.6% today.

Among health care stocks moving on news:

(+) Inovio Pharmaceuticals ( INO ) was almost 2% higher in late Monday trading, falling off a more than 6% opening gain that followed the drugmaker saying an intramuscular injection of its INO-4212 Ebola vaccine candidate provided 100% protection for a monkey following a challenge with a lethal dose of the Ebola virus in a preclinical study. Two dose-sparing injections of INO-4212 in a monkey also produced 100% protection during a separate study, the company said.

In other sector news:

(+) Canopy Growth (CGC,WEED.TO) was more than 11% higher Monday after the medical and recreational cannabis supplier said it was acquiring the intellectual portfolio of hemp researcher ebbu Inc. in exchange for CAD25 million, or about $19.2 million, in cash and 6.2 million shares of its common stock. Current ebbu investors also are eligible for up to CAD100 million in additional payments as it reaches certain scientific-related milestones during the first two years after the deal closes, expected next month.

(+) Tandem Diabetes Care ( TNDM ) was almost 2% higher on Monday, easing from a nearly 8% gain earlier in the session that followed Heath Canada issuing a medical device license for the company's t:slim X2 insulin pump. Tandem is now planning to launch the new pump on a province-by-province basis during the current quarter, pending product registration with provincial health programs and other pre-launch activities.

(-) Soligenix ( SNGX ) tumbled as much as 29% on Monday after the biopharmaceuticals company said it is adding another 40 subjects to Phase III testing of its SGX301 drug candidate in patients with with cutaneous T-cell lymphoma following the recommendation of the independent Data Monitoring Committee overseeing the late-stage trial of the synthetic hypericin.

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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