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Health Care Sector Update for 12/29/2016: ELGX,FBIO,CEMP

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Top Health Care Stocks

JNJ +0.36%

PFE +0.46%

MRK +0.25%

ABT -0.36%

AMGN +0.12%

Health care stocks were giving back a portion of their earlier advance Thursday afternoon, with the NYSE Health Care Index posting a nearly 0.5% gain while shares of health care companies in the S&P 500 were up just 0.1% as a group in late trade.

In company news, Endologix ( ELGX ) appears set to finish with a double-digit gain on Thursday after the medical device maker earlier today lifted a temporary hold on most of its products used to treat abdominal aortic aneurysms after the company uncovered an unspecified manufacturing issue earlier this week.

The company on Tuesday suspended shipments of all sizes of its AFX Endovascular AAA system along with some sizes of its AFX2 Endovascular AAA system. Testing and process improvements for the remaining sizes of the AFX2 system were continuing, the company said. It also will hold a conference call and webcast with analysts and investors tomorrow morning to discuss the recent hold.

ELGX shares were up nearly 11% at $5.90 each in late trade, previously jumping out to a session high of $6.45 a share.

In other sector news,

(+) FBIO, (+23.2%) Today publishes account in the New England Journal of Medicine of 50-year-old male with previously intractable brain cancer "return(ing) to normal life and work activities" following treatment in a Phase I trial of MB-101 lead product candidate developed from his genetically modified T cells.

(-) CEMP, Hits record low after FDA says it won't approve new drug applications for the company's oral and intravenous pneumonia treatments, asking for more information on potential drug-induced liver disease and requiring deficiencies at its manufacturing plant be addressed.

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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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