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

Top Health Care Stocks

JNJ +0.65%

PFE -0.40%

ABT 0.00%

MRK -0.02%

AMGN +0.09%

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

Among health care stocks moving on news:

(+) Sage Therapeutics (SAGE) rose almost 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.

In other sector news:

(+) Genetic Technologies (GENE) advanced 23% 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.

(-) Rocket Pharmaceuticals (RCKT) dropped almost 10% 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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