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Health Care Sector Update for 12/11/2019: BLCM,SAGE,GENE,RCKT

Top Health Care Stocks

JNJ +0.90%

PFE -0.47%

ABT +0.43%

MRK -0.06%

AMGN +0.07%

Health care stocks still were edging higher in late trade, with the NYSE Health Care Index climbing over 0.3% while the shares of health care companies in the S&P 500 also were up more than 0.1% as a group. The Nasdaq Biotechnology index was falling almost 0.6%.

Among health care stocks moving on news:

(+) Bellicum Pharmaceuticals (BLCM) rallied Wednesday, posting a nearly 23% gain, after the drugmaker said it will book a $5 million payment from The University of Texas MD Anderson Cancer Center during its Q4 ending Dec. 31 after the university exercised an option to license its CaspaCIDe safety switch technology. Bellicum also is set to receive undisclosed milestone payments and royalties on sales in the future, the company said.

In other sector news:

(+) Genetic Technologies (GENE) advanced 16% after the Australian molecular diagnostics company said it will begin sales of its Genetype for Breast Cancer test that combines genetic information with family history and mammography data during the first three months of 2020.

(+) Sage Therapeutics (SAGE) rose over 8% after saying it plans to launch phase II testing of its SAGE-718 neuropsychiatric drug candidate in patients with Huntington's disease after the results from a phase I study demonstrated safety and tolerability of the investigational drug's lead molecule.

(-) Rocket Pharmaceuticals (RCKT) dropped more than 11% after the drugmaker priced an $85 million public offering of 3.82 million common shares at $22.25 apiece, marking an 8% discount to Tuesday's closing price for the stock.

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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