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Health Care Sector Update for 04/12/2019: VIVE,XFOR,TCON

Top Health Care Stocks

JNJ +0.27%

PFE -0.88%

ABT +0.53%

MRK +0.24%

AMGN -0.48%

Health care stocks were losing ground this afternoon, including a more than 0.9% decline for the NYSE Health Care Index. Shares of health care companies in the S&P 500 also were down about 0.5% as a group while the Nasdaq Biotechnology index was falling almost 0.6%.

Among health care stocks moving on news:

(+) Viveve (VIVE) rose nearly 21% after the medical device company said it received CE Mark clearance from European regulators for its next generation Viveve 2.0 cryogen-cooled monopolar radiofrequency system for the treatment of various post-partum conditions in women.

In other sector news:

(-) X4 Pharmaceuticals (XFOR) dropped more than 20% on Friday after the specialty drugmaker disclosed plans for a public offering of shares of its common stock as well as pre-funded warrants and Class A warrants to purchase additional shares. The offering is subject to market and other conditions, the company said without providing the likely size or other terms of the proposed offering.

(-) TRACON Pharmaceuticals (TCON) tumbled nearly 51% after scrapping phase III testing of a combination of its TRC105 drug candidate and a previously approved chemotherapy, Votrient, in patients with advanced or metastatic cancer of the inner lining of their blood vessels due to futility as determined by its Independent Data Monitoring Committee.

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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