Health Care Sector Update for 12/30/2019: EARS,XFOR,ABBV,CBMG

Top Health Care Stocks

JNJ -0.30%

PFE -0.76%

ABT -0.59%

MRK -0.51%

AMGN -0.40%

Health care stocks were falling, with the NYSE Health Care Index dropping almost 0.5% while the shares of health care companies in the S&P 500 also were down slightly more than 0.4% as a group. The Nasdaq Biotechnology index was sinking over 0.8%.

Among health care stocks moving on news:

(+) Auris Medical Holding (EARS) raced 19.5% higher after the specialty drugmaker Monday that it has formed Zilentin, a new business unit bundling its keyzilen/AM-101 drug candidate to treat tinnitus and its Sonsuvi/AM-111 prospective therapy for hearing loss.

In other sector news:

(-) X4 Pharmaceuticals (XFOR) was fractionally lower Monday afternoon, giving back an early 3% spike that followed the immuno-oncology company saying it has started phase Ib testing of a combination of its mavorixafor drug candidate with Abbvie's (ABBV) ibrutinib cancer medication for the treatment of Waldenstrom's macroglobulinemia, a rare form of non-Hodgkin's lymphoma.

(-) Cellular Biomedicine Group (CBMG) dropped nearly 1% after the genetic therapy company Monday said it retained the Jefferies Group and White & Case to assist with a review of its strategic options, including a Nov. 11 buyout offer led by CEO Bizuo Liu proposing to take the company private for $19.50 per share in cash.

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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