Health Care Sector Update for 11/21/2018: BPMC,CYAD,SYN,JNJ
Top Health Care Stocks
Health care stocks were lower in late Wednesday trading, including a nearly 0.2% decline for the NYSE Health Care Index. Shares of health care companies in the S&P 500 were down almost 0.5% as a group while the Nasdaq Biotechnology index was ahead nearly 0.8% today.
Among health care stocks moving on news:
(+) Blueprint Medicines Corp ( BPMC ) was higher after a new regulatory filing this morning showed Jeffrey Albers, the chief executive officer of the biopharmaceuticals company working to develop anti-tumor medications that use small-molecule kinase inhibitors to target the genomic drivers in different types of cancer this week buying 28,961 shares of the company’s stock at $1.87 apiece, or about $54,157 overall. Albers relied on a July 2014 stock option grant for Monday’s stock purchase, with the final 4,983 shares vesting on Sept. 21, 2016.
In other sector news:
(+) Celyad SA ( CYAD ) was more than 6% higher on Wednesday after the early-stage biopharmaceuticals company said the first patient treated with its CYAD-101 drug candidate showed no toxicity during a safety and anti-tumor activity study of the non-gene edited, allogeneic CAR-T cancer medication. The trial was authorized by the U.S. Food and Drug Administration under an investigational new drug application that took effect in July. Celyad also said it finished the three months ended Sept. 30 with EUR55.9 million, or about $63.73 million, in cash and equivalents and short-term investments after spending about EUR6.7 million during the quarter.
(+) Synthetic Biologics ( SYN ) was holding onto a nearly 2% advance this afternoon, giving up almost all of a nearly 20% gain that followed the company saying it has successfully completed an end-of-Phase II meeting with federal regulators discussing the latest round of testing of its Ribaxamase antibiotic to treat Clostridium difficile infections.
(-) Johnson & Johnson’s ( JNJ ) dropped more than 3% on Wednesday afternoon after the U.S. Court of Appeals denied a request by the health care conglomerate to block low-cost versions of its Zytinga colorectal cancer drug treatment from entering the American market while J&J appeals a trial court ruling invalidating its patent on the testosterone-based therapy.
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