Health Care Sector Update for 12/20/2018: SPPI, MNKD, TLRY, BUD, PFE, JNJ, ABT, MRK, AMGN

Shutterstock photo

Top Health Care Stocks:

JNJ: -0.40%

PFE: -0.07%

ABT: +0.10%

MRK: Flat

AMGN: Flat

Health care stocks were mixed in pre-bell trading Thursday.

Early movers include:

(-) Spectrum Pharmaceuticals ( SPPI ), which was plunging more than 34% after announcing that the US Food and Drug Administration did not grant Breakthrough Therapy Designation to poziotinib for the treatment of patients with metastatic non-small cell lung cancer whose tumors have EGFR exon 20 mutations.

(-) MannKind ( MNKD ) was dropping more than 21% in value after it priced an underwritten public offering of 26.7 million shares of common stock and warrants for total gross proceeds of $40 million. Each share is being sold with a warrant to purchase one share of common stock for a combined purchase price of $1.50.

(+) Tilray ( TLRY ) was up more than 11% after the company unveiled a partnership with Belgian brewer Anheuser-Busch InBev ( BUD ) to jointly invest $100 million in researching cannabis-infused drinks.

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 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.