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Health Care Sector Update for 11/27/2019: ACB,ACB.TO,TNXP,ARAV

Top Health Care Stocks

JNJ +0.23%

PFE +0.40%

ABT +0.21%

MRK +0.06%

AMGN -0.18%

Health care stocks were rising, with the NYSE Health Care Index climbing more than 0.3% in Wednesday trade while the shares of health care companies in the S&P 500 also were up almost 0.3% as a group. The Nasdaq Biotechnology index was climbing over 0.7%.

Among health care stocks moving on news:

(+) Aurora Cannabis (ACB) rose 4% as the medical and recreational marijuana seller Wednesday opened its flagship retail store in North America's largest mall. The new store occupies nearly 11,000 square feet at the West Edmonton Mall in Alberta's capital city and includes an "immersive experiential space" where visitors can explore products and participate in events.

In other sector news:

(+) Tonix Pharmaceuticals Holding (TNXP) Wednesday climbed 8.6% after the drugmaker said official minutes from a recent Breakthrough Therapy Type B meeting with the FDA about phase III testing of its Tonmya prospective treatment for post-traumatic stress disorder were consistent with its prior remarks about the study design. Tonix also said it expects to report interim results from the 12-week study in early 2020, with top-line data due by mid-year.

(-) Aravive (ARAV) fell 15% after the biopharmaceuticals company earlier Wednesday priced a $25 million public offering of 3.3 million common shares at $7.50 apiece, or 25% below Tuesday's closing price. Araviv is expecting to use the net proceeds to buy or license additional product candidates or invest in or acquire complementary businesses.

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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ACB TNXP ARAV

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