Health Care Sector Update for 12/14/2018: IDRA, KANG, AXON



Shutterstock photo

Top Health Care Stocks

JNJ, -10.2%

PFE, -2%

MRK, -2.6%

ABT, -2.3%

AMGN, -2.8%

Health care stocks extended their declines through Friday trading, with the NYSE Health Care Index dropping to a 3.2% retreat this afternoon while shares of health care companies in the S&P 500 were down 3.5% as a group.

In company news, Idera Pharmaceuticals ( IDRA ) sank nearly 30% after reported that its drug to treat metastatic melanoma, or spreading skin cancer, is “promising,” and slated a conference call. Idera dosed patients in a phase 2 trial with its drug tilsotolimod, in combination with ipilimumab, also a drug to treat melanoma made by Bristol-Myers Squibb ( BMY ). Idera said 32.4% of patients evaluable for efficacy achieved partial response or better; 76.5% of patients achieved disease control. The drug-maker said the results from this combination were among the most promising seen in the challenging population of metastatic melanoma patients who have not benefited from front-line immunotherapy.

In other sector news,

(+) iKang Healthcare Group ( KANG ) Enters into a third amendment on its merger agreement with IK Healthcare Investment

(-) Axovant Sciences ( AXON ) Prices its underwritten public offering of 30 million of its common shares at $1 per share, an 11% discount to the most recent closing price


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.









Zeen is a next generation WordPress theme. It’s powerful, beautifully designed and comes with everything you need to engage your visitors and increase conversions.

Wealth Empire Newsletter
Register now for free updates and alerts

Subscribe By

Note: I have the ability to revoke this permission at any time and ask for the removal of my personal data collected by contacting us or simply clicking Unsubscribe.