Health Care Sector Update for 11/15/2018: ARNA,UTHR,QURE,ABIO
Top Health Care Stocks
Health care stocks gained, including a 0.1% advance for the NYSE Health Care Index this afternoon. Shares of health care companies in the S&P 500 were up 0.7% as a group, while the Nasdaq Biotechnology index was ahead more than 2% today.
Among health care stocks moving on news:
(+) Arena Pharmaceuticals ( ARNA ) jumped almost 31% higher at one point on Thursday after the biopharmaceuticals company said it signed a global license agreement with United Therapeutics Corp ( UTHR ) for its Ralinepag prospective treatment for pulmonary arterial hypertension. United Therapeutics also was higher, rising 5% in recent trading.
In other sector news:
(+) uniQure N.V ( QURE ) was soaring Thursday, rising as much as almost 54%, after the gene therapy company reported topline trial data showing its AMT-061 candidate produced therapeutic levels of Factor IX activity in all three enrolled patients with severe and moderately severe hemophilia B six weeks after dosing. The company is expecting to submit data from the Phase IIb trial to US and European regulators by the end of the year and beginning Phase III testing during the first three months of 2019.
(-) ARCA biopharma ( ABIO ) was down 17% on Thursday after the company late Wednesday said the FDA is currently giving further consideration to the company’s SPA application for the Phase 3 clinical trial of Gencaro following the company’s provision of supporting information in response to an initial No Agreement letter received at the end of October. The company said it requested a meeting with the FDA in December to discuss any remaining issues in the application. ARCA also reported Q3 financial results, including a net loss of $0.11 per share, narrower than its $0.39 per share loss in the same period last year and topping the Street view expecting a $0.19 per share net loss.
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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