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Health Care Sector Update for 05/22/2019: OBLN, CODX, AFMD, JNJ, PFE, ABT, MRK, AMGN

Top Health Care Stocks:

JNJ: -0.09%

PFE: +0.12%

ABT: -0.14%

MRK: -0.31%

AMGN: Flat

Leading health care stocks were mixed in Wednesday's pre-market trading.

Stocks moving on news include:

(+) Obalon Therapeutics (OBLN), which was surging by more than 139% after the company said it presented expanded clinical data from its large-scale commercial use study of its swallowable, gas-filled intragastric balloon system to treat obesity.

(+) Co-Diagnostics (CODX) was advancing more than 25% after it signed two sales agreements for its mosquito abatement equipment packages and test reagents. The molecular diagnostics company added in a filing that it plans to enter into more sales agreements before the end of the quarter.

(-) Affimed (AFMD) was more than 10% lower after saying it will focus on its AFM13 and AFM24 innate cell engagers and terminate the previously suspended phase 1 AFM11 program. The company also reported earnings of EUR0.03 ($0.034) per share in the three months ended March 31, compared with a loss of EUR0.15 per share in the year-ago quarter.

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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