Health Care Sector Update for 12/11/2018: OPRX,ITCI,ENTX,AMGN,RARX

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Top Health Care Stocks

JNJ +1.48%

PFE -0.33%

ABT +1.65%

MRK +0.08%

AMGN +1.59%

Health care stocks were finishing with sizable gains, including a more than 0.7% gain for the NYSE Health Care Index in recent trade. The shares of health care companies in the S&P 500 also were up slightly over 0.7% as a group while the Nasdaq Biotechnology index was rising nearly 0.6% this afternoon.

Among health care stocks moving on news:

(-) OptimizeRx ( OPRX ) slid over 11% lower on Tuesday after the health information services company filed a revised Form S-3 regulatory document for a $40 million mixed-shelf registration statement for the sale of various securities, including common and preferred stock, debt securities and warrants to buy additional shares. The preliminary prospectus also again sets up the potential sale from time to time of up to 2.1 million shares now owned by WPP Luxembourg Gamma Three Sarl.

In other sector news:

(+) Intra-Cellular Therapies ( ITCI ) climbed as much as 9% on Tuesday after the US Food and Drug Administration agreed to review the new drug application for the biotechnology company’s lumateperone product candidate for the treatment of schizophrenia.

(-) Entera Bio ( ENTX ) dropped 2% on Tuesday, giving back an earlier 26% rise that followed the specialty drugmaker announcing a research collaboration and license agreement with Amgen ( AMGN ) worth up to $270 million. The company said it would use its proprietary drug delivery platform to develop oral formulations for one preclinical large molecule program that Amgen has chosen.

(-) Ra Pharmaceuticals ( RARX ) closed almost 10% lower on Tuesday after the biotechnology company disclosed plans for a $100 million public offering of its common stock. Net proceeds will being used to fund ongoing clinical development of its zilucoplan lead product candidate and for working capital.

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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