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Health Care Sector Update for 09/11/2019: TTOO, LXRX, SNY, TLRY, JNJ, PFE, MRK, ABT, AMGN

Top Health Care Stocks:

JNJ: Flat

PFE: +0.13%

ABT: Flat

MRK: +0.42%

AMGN: Flat

Health care giants were mixed pre-bell Wednesday.

Early movers include:

(+) T2 Biosystems (TTOO), which was surging by more than 34% after saying it has restructured its Term Loan Agreement with CRG Servicing, extending its interest-only payment period to March 2022 from March 2021 and reducing the minimum revenue targets for 2020 to 2022 to levels that are below its current financial forecast.

(+) Lexicon Pharmaceuticals (LXRX) was surging more than 30% after announcing that it has terminated its alliance with Sanofi (SNY) for the development and commercialization of diabetes drug Zynquista. Lexicon regains all rights to Zynquista and will be paid $260 million by Sanofi, of which $208 million is payable upfront and $52 million payable within 12 months.

(-) Tilray (TLRY) was down more than 2% amid plans to issue up to $400 million shares of class 2 common stock in at-the-market sales.

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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