US Markets

Health Care Sector Update for 04/15/2019: FCSC,SOLY,CTLT,APHA

Top Health Care Stocks

JNJ +0.46%

PFE +0.77%

ABT -0.54%

MRK -0.88%

AMGN -0.30%

Health care stocks were adding to their mid-day rise, including a nearly 0.5% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up more than 0.3% as a group although the Nasdaq Biotechnology index still was falling over 0.6%.

Among health care stocks moving on news:

(+) Fibrocell Science (FCSC) soared Monday, climbing almost 42%, after receiving a $7.5 million upfront payment as part of its collaboration agreement with Castle Creek Pharmaceuticals to develop and commercialize its FCX-007 lead gene therapy candidate. It will receive another $2.5 million after the first patient is enrolled in a phase III trial later this quarter and $30 million after the biologics license application for the prospective treatment of recessive dystrophic epidermolysis bullosa is approved along with up to $75 million in sales-based milestone payments.

In other sector news:

(+) Catalent (CTLT) rose more than 13% after the contract drug manufacturer Monday said it was acquiring Paragon Bioservices, paying $1.2 billion in cash for the privately held genetic therapy firm.

(+) Soliton (SOLY) climbed 12% after Monday saying Dr. Elizabeth Tanzi of Capital Laser and Skin Care will present preliminary data from a proof of concept study evaluating the safety and efficacy of the company's acoustic pulse device in reducing cellulite. Data from the pre-clinical trial appears to show a single pulse treatment from Soliton's RAP device operating at a higher power level than normally used for tattoo removal may be a new method for removing cellulite, the company said.

(-) Aphria (APHA) fell 15% after the medical marijuana company reported a fiscal Q3 loss of $0.20 per share, reversing an $0.08 per share profit during the same quarter last year and missing the Capital IQ consensus expecting a $0.04 per share net loss. Other pot stocks also declined Monday.

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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CTLT APHA

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