Health Care Sector Update for 02/06/2019: MGNX,NVLN,AGLE

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Top Health Care Stocks

JNJ +0.18%

PFE +0.01%

ABT +0.29%

MRK +0.40%

AMGN +1.19%

Health care stocks were rising, including a slightly more than 0.4% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up 0.4% as a group while the Nasdaq Biotechnology index was up about 0.1%.

Among health care stocks moving on news:

(+) MacroGenics ( MGNX ) more than doubled in price Wednesday, rising 126% in recent trading, after a combination of its margetuximab drug candidate and chemotherapy resulted in improved progressive-free survival in patients with certain types of breast cancer compared with a combination of Roche’s trastuzumab cancer medication plus chemotherapy during phase III testing.

In other sector news:

(+) Novelion Therapeutics ( NVLN ) raced 48% higher on Wednesday after the company’s Aegerion Pharmaceuticals subsidiary signed an exclusive commercialization license in the Japanese market for its Juxtapid cholesterol medication to Recordati Rare Diseases, which will pay a $25 million upfront fee and up to $80 million in sales-based milestone payments.

(-) Aeglea BioTherapeutics ( AGLE ) dropped 22% after the specialty drugmaker priced a $60 million public offering of 3.75 million common shares at $8 apiece, marking a 14.9% discount to Tuesday’s closing price for the company’s 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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