Health Care Sector Update for 11/21/2018: CYAD,SYN,JNJ
Top Health Care Stocks
Health care stocks slipped this afternoon, including a less than 0.1% loss for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were down almost 0.2% as a group while the Nasdaq Biotechnology index was ahead nearly 0.8%.
Among health care stocks moving on news:
(+) Celyad SA ( CYAD ) was almost 8% 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 clinical candidate. The trial was authorized by the US 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.
In other sector news:
(+) Synthetic Biologics ( SYN ) was advancing 2.5%, giving up almost all of its earlier gains, after the company said it 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 a federal appellate court denied a request by the health care conglomerate to block low-cost versions of its Zytinga colorectal cancer drug from entering the US market while J&J appeals a trial court ruling invalidating its patent on the drug, Bloomberg News reported.
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