Health Care Sector Update for 12/17/2018: BMY,EVFM,PTI,BCLI



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Top Health Care Stocks

JNJ -3.18%

PFE -1.68%

ABT -1.65%

MRK -1.73%

AMGN -1.29%

Health care stocks fell on Monday, including a more than 2.5% decline for the NYSE Health Care Index. Shares of health care companies in the S&P 500 also were down over 2.2% as a group while the Nasdaq Biotechnology index was slipping almost 2.0% today.

Among health care stocks moving on news:

(-) Bristol-Myers Squibb ( BMY ) was almost 3% lower in late Monday trading after the global drugmaker said it was launching a multi-year research collaboration with an Eisai Co subsidiary to study modulating RNA splicing to develop potential therapies using the immune system to target cancer cells.

In other sector news:

(+) Evofem Biosciences ( EVFM ) climbed almost 23% higher at one point on Monday after saying its Amphora birth control product candidate met its primary endpoint during Phase III testing.

(+) Proteostasis Therapeutics ( PTI ) faded Monday afternoon, giving back almost all of a nearly 19% gain that follow the biopharmaceutical company signing an exclusive global license agreement with privately held Genentech for rights to potential therapeutic small molecule modulators of an undisclosed target within the proteostasis network.

(+) Brainstorm Cell Therapeutics ( BCLI ) has turned little changed this afternoon, reversing a nearly 7% rise that followed the specialty drug maker saying the US Food and Drug Administration has accepted its investigational new drug application to begin a Phase II trial of its NurOwn prospective treatment of progressive multiple sclerosis.


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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