Healthcare Stocks Finishing in the Red; Insmed Climbs to 4-Year High on U.S., EU Patent Grants

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Healthcare stocks are lower with the NYSE Healthcare Sector Index falling 0.4% and shares of healthcare companies in the S&P 500 sliding about 0.2% as a group.

In company news, Insmed Inc. ( INSM ) is up nearly 8% at $16.14 a shares, earlier soaring to its highest level in more than four years at $16.27 after the biopharmaceutical company said it has been awarded new patent allowances in the U.S. and Europe for its ARIKACE lung-infection treatment.

INSM said the U.S. Patent and Technology Office intends to grant it a patent that will provide exclusivity for its once-daily inhalation formulation through at least Dec. 5, 2026. Meanwhile, the European Patent Office intends to grant it a patent that will provide exclusivity at least through Oct. 29, 2023.

In other sector news,

(+) NBS, Shares climb to best levels since July 2011 after cellular-therapy company receives $147,765 grant to fund scleroderma studies that could eventually fetch another $1.5 mln in grant funding.

(-) PLX, Announces plans for a $60-mln private placement of convertible notes due 2018. Net proceeds will fund clinical trials of its product candidates as well as research and development.



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

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This article appears in: Investing , Commodities

Referenced Stocks: INSM

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