CORAL GABLES, FL / ACCESSWIRE / November 29, 2018 / Healthcarestocks remain in focus this week after the stock market posted its worst Black Friday session last week followed by a 1000 point move during the first half of this week. The Select Sector SPDR Healthcare ETF (XLV) has climbed from lows of $88.98 on Friday to as high as $93.80 this morning. On Thursday, the market pushed higher, lead by healthcarestocks.
Positive momentum from certain healthcare and biotechnology names have propelled anumber of sector stocks. Heading into the last few days of the month, 4 healthcare stocks to watch include: PremierHealth Group, Inc. (PHGRF) (PHGI), Inovalon Holdings, Inc. (INOV), Community Health Systems, Inc. (CYH), and Realm Therapeutics Plc (RLM).
PremierHealth Group, Inc. (PHGRF) (PHGI) is focused on developing innovative approaches that combine human skill based expertise with emerging technologies for the healthcare industry. This month, Premier solidified its stance on the increasing opportunity that the legalmarijuana industry has presented. This month Premier Health announced an update on its plan to expand the scope of practice within its primary care clinics to include cannabis.
This move could prove to be and exciting one for Premier. TheCanadianmedical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025. With this in mind, the company said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19.
PremierHealth Group, Inc. (PHGRF) (PHGI) has engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies and government officials in order to establish a framework for both patient and physician education. Furthermore, the Company is actively recruiting additional physicians for its existing clinics and a cannabis focused physician that is licensed in Canada.
"With over 110,000 active patients in our clinic ecosystem it is important that we provide them with the best possible information that allows them to make informed decisions about their personal and family's health. Providing our family physicians with the appropriatetools and knowledge to prescribe cannabis or with the ability to refer patients to a specialist within our clinics is a key outcome of this initiative," said Dr. Essam Hamza , CEO of Premier.
Inovalon Holdings, Inc. (INOV) shares traded higher on Thursday. The company announced this month that three recent published studies of its DNA-Encoded monoclonal antibody technology showed impressive results in treating cardiovascular disease and in preventing infection from the Ebola virus and Lyme disease-causing bacteria in preclinical models. Leveraging several recent published positive preclinical data, Inovio plans to initiate a first clinical study of an infectious disease treatment dMAb product early next year with full external funding.
Inovio is a late-stage biotechnology company focused on the discovery, development, and commercialization of DNA immunotherapies that transform the treatment of cancer and infectious diseases.
Inovio's proprietary platform technology applies next-generation antigen sequencing and DNA delivery to activate potent immune responses to targeted diseases.
Community Health Systems, Inc. (CYH) is an operator of general acute care hospitals in communities across the country. The Company, through its subsidiaries, owns, leases or operates 115 affiliated hospitals in 20 states with an aggregate of approximately 19,000 licensed beds.
Shares of the company's stock climbed to highs of $4.21, which is up significantly from roughly one month ago. On October 30 the stock traded as low as $2.50. Community Health announced this month that subsidiaries of the Company have signed a definitive agreement to sell four South Carolina hospitals - 82-bed Chester Regional Medical Center in Chester, 225-bed Springs Memorial Hospital in Lancaster, 396-bed Carolinas Hospital System in Florence, and 124-bed Carolinas Hospital System - Marion in Mullins - along with related businesses, including physician clinic operations and outpatient services, to the Medical University Hospital Authority in Charleston, S.C.
According to company press, the transaction is expected to close in the first quarter of 2019, subject to customary regulatory approvals and closing conditions. The four hospitals are among the additional planned divestitures discussed on the Company's third quarter 2018 earnings call.
Realm Therapeutics (RLM) saw a rally in the market this morning on some of the stock's highest intra day volume this year. Share of Real ran to highs of $5.98 after the opening bell.
This morning the company provided an update on timing of the ongoing formal sale process as part of the previously announced strategic review. As part of a strategic review, Realm received multiple indications of interest which include a potential sale of the Company, contemplated as a reverse merger, directly and through parties contacted by MTS Partners, LP acting as an advisor in the strategic review. From among the several non-binding proposals, the Company has selected a short list of potential transactions and has advanced these to deal negotiation and due diligence. The Company anticipates providing a further update to shareholders in Q1 2019.
Realm Therapeutics is a biopharmaceutical company with a proprietary technology platform of stabilized high concentration hypochlorous acid. The Company has an FDA 510K-cleared anti-itch hydrogel, previously marketed as Aurstat™, indicated for the management and relief of pain, burning and itching experienced with various dermatoses, including atopic dermatitis, allergic contact dermatitis and radiation dermatitis.
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