Health Care Sector Update for 11/29/2018: TNXP, ONCY, EYPT, ALKS

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Top Health Care Stocks

JNJ -0.39%

PFE +1.58%

ABT +0.71%

MRK +1.08%

AMGN +0.59%

Health care stocks were mostly higher in late afternoon trade, including a nearly 0.8% advance for the NYSE Health Care index. Shares of health care companies in the S&P 500 were up more than 0.4% although the Nasdaq Biotechnology index was less than 0.1% lower today.

Among health care stocks moving on news:

(+) Tonix Pharmaceuticals Holding ( TNXP ) jumped out a more than three-year high on Thursday, with the drugmaker’s shares more than doubling in value to $9.60 apiece, after it said the official minutes from a recent meeting between Tonix executives and the U.S. Food and Drug Administration confirm the agency has approved the design of a Phase III trial for its Tonmya drug candidate set to begin early next year. Tonyma has been conditionally accepted by the FDA as the proposed brand name for its TNX-102 prospective treatment for posttraumatic stress disorder treatment. TNX-102 SL has not been approved for any indication in the U.S. or other jurisdiction.

In other sector news:

(-) Oncolytics Biotech ( ONCY ) declined Thursday, falling as much as 6%, after the biopharmaceuticals company said it has named Rita Laeufle as its new chief medical officer. Laeufle has been working as a consultant with the specialty drugmaker over the past four months and will oversee work on an upcoming clinical trial of its pelareorep product candidate in patients with breast cancer.

(+) EyePoint Pharmaceuticals ( EYPT ) was almost 8% higher in recent Thursday trading despite disclosing plans to raise up to $75 million from time to time through a mixed shelf offering.

(-) Alkermes ( ALKS ) was down over 1% this afternoon after saying its ALKS-3831 schizophrenia drug candidate met both of its primary endpoints during Phase III testing. Patients treated with ALKS-3831 showed less weight gain compared with patients treated with olanzapine, a previously approved schizophrenia treatment with established efficacy but also resulting in high incidence and magnitude of weight gain.

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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