Health Care Sector Update for 01/03/2020: CEMI,BNTX,NOVN

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Top Health Care Stocks

JNJ -0.45%

PFE +0.38%

ABT -0.43%

MRK +0.19%

AMGN +0.01%

Health care stocks were lower with the NYSE Health Care Index was dropping 0.6% on Friday while the shares of health care companies in the S&P 500 also were down just over 0.4% as a group. The Nasdaq Biotechnology index was falling 1%.

Among health care stocks moving on news:

(+) Chembio Diagnostics ( CEMI ) climbed almost 14% after saying it expects the US Food and Drug Administration to approve its 15-minute diagnostic test to detect type 1 and 2 HIV antibodies along with syphilis-causing bacteria "within two months." The DPP HIV-Syphilis system now under agency review also includes the DPP Micro Reader, the company said.

In other sector news:

(+) BioNTech ( BNTX ) rose 4% after the German biopharmaceuticals company published data showing its second generation CLDN6-CAR-T therapy resulted in complete tumor regression of transplanted human tumors in mice within two weeks of starting treatment. CAR-T cell therapy uses a body's own immune system to fight cancer and has previously demonstrated significant clinical efficacy in blood cancers but not with solid tumors.

(-) Novan ( NOVN ) plunged after saying it plans to begin a new late-stage trial of its SB206 drug candidate later this year after the prospective treatment for molluscum contagiosum skin infections produced inconclusive top-line results during a pair of ongoing phase III trials. The company also warned it will need "substantial" funding to keep business operations going.

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

This article appears in: Investing , US Markets
Referenced Symbols: CEMI , BNTX , NOVN

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