Health Care Sector Update for 07/07/2017: NOVN,ARNA,DXTR

Top Health Care Stocks

JNJ -0.19%

PFE +0.06%

ABT +0.98%

MRK +0.08%

AMGN -0.23%

Health care stocks were rising, with the NYSE Health Care Index moving almost 0.5% higher in recent trading while shares of health care companies in the SP 500 were up nearly 0.6% as a group.

In company news, Novan ( NOVN ) shares advanced on Friday, topping out at $4.30 a share, after the specialty drugmaker disclosed plans to seek a follow-up meeting with U.S. regulators after receiving more positive safety and efficacy data for its SB204 acne gel treatment.

According to the company, SB204 reduced acne lesions by around 33.4% following once-a-day applications of the 4% gel over 12 weeks compared with a 24.2% drop for youth aged 9 to 17 years old in the control group after the same time span. The number of lesions also declined by about 43.4% in the SB204 group versus a 36.4% reduction in the control group.

In other sector news,

(+) ARNA, (+9.5%) Raised to Market Outperform from Market Perform at JMP Securities.

(-) DXTR, (-14.5%) Expects fiscal Q4 total product sales of between $940,000 to $960,000, trailing the $1.17 mln two-analyst consensus. Also places temporary shipping hold on its MicroCutter 5/80 Stapler and reload cartridges following six reports of difficulty clamping the device after reloading.

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