Health Care Sector Update for 12/31/2018: ACST,ADMP,MBOT

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Top Health Care Stocks

JNJ +1.62%

PFE +1.32%

ABT +1.66%

MRK +1.37%

AMGN +2.01%

Health care stocks were posting solid gains on Monday, including a 1% advance for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were up 1% as a group, while the Nasdaq Biotechnology index was also climbing 1%.

Among health care stocks moving on news:

(+) Acasti Pharma ( ACST ) rose almost 10% on Monday after the Canadian biopharmaceuticals company said late-stage testing of its CaPre drug candidate to treat patients with severely high levels of triglycerides in their blood have both exceeded 65% patient randomization. Acasti has enrolled about 1,500 patients at 150 locations in the United States, Canada and Mexico.

In other sector news:

(+) Adamis Pharmaceuticals ( ADMP ) climbed 2.4% after the specialty biopharmaceuticals company submitted a new drug application for its tadalafil erectile dysfunction medication to the US Food and Drug Administration.

(-) Microbot Medical ( MBOT ) slid 11% lower at one point on Monday after the the micro-robotics assisted medical technologies firm disclosed plans to sell over 6.02 million units each consisting one share of Microbot common stock along with a warrant to buy another share.

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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