Markets

Sector Update: Healthcare

Healthcare shares were fairly flat in pre-market trade on Monday.

In healthcare stocks news, oncology-drug developer Celsion ( CLSN ) shares were up more than 12% in pre-market after it said it agreed to acquire privately held biopharmaceutical company EGEN for $14 million in cash and stock plus up to $30.4 million in additional payments based on certain milestones being reached.

Under the terms of the deal, Celsion will acquire the assets of EGEN and assume certain liabilities in exchange for cash and shares of Celsion totaling $14 million.

And, Isis Pharmaceuticals ( ISIS ) shares were up 4.6% after it said that AstraZeneca ( AZN ) has initiated a Phase 1 clinical study of ISIS-ARRx in patients with cancer.

Isis earned a $15 million milestone payment associated with the clinical advancement of ISIS-ARRx.

And, Advaxis ( ADXS ) has been granted an End-of-Phase 2 meeting with the U.S. Food and Drug Administration to review clinical findings to date of Advaxis's lead immunotherapy product candidate for the treatment of human papilloma virus-associated cancers, ADXS-HPV.

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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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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