Healthcare Stocks Posting Moderate Gains; ChemoCentryx Falls 22%, Getting No Help From New-Drug Study

By Staff,

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Top Healthcare Stocks

JNJ +0.94%

PFE +0.64%

ABT +0.68%

MRK +0.75%

AMGN -0.90%

Healthcare stocks are higher, with the NYSE Healthcare Sector Index gaining 0.6% and shares of healthcare companies in the S&P 500 adding 0.5% as a group.

In company news, ChemoCentryx ( CCXI ) is down more than 22% at $6.41 a share, earlier falling to within a penny of its 52-week low of $6.05 and getting little help from interim data from a Phase II study of its CCX140 drug candidate indicating positive results and supporting moving to a full 52-week study.

CCX140 is intended to work by inhibiting the chemokine receptor known as CCR2. Data through the first 12 weeks of dosing showed the drug candidate was well-tolerated and patients treated with 5 milligrams once a day experienced a statistically significant reduction of protein in their urine compared with patients in the placebo group.

In pre-specified analyses of subsets of patients in the study, greater reductions in proteinuria were observed, including decreases of approximately 30% in UACR.

In other sector news,

(+) MEIP, (+1.5%) Acquires worldwide right to investigation cancer drug PWT143 from Pathway Therapeutics. No purchase price was disclosed but MEIP said the deal included upfront payment with no future milestone or royalty obligations.

(+) PRGO, (+0.1%) Receives final approval from U.S. regulators for a bubble gum-flavored cetirizine hydrochloride oral solution, the store brand equivalent to Children's Zyrtec Allergy Syrup.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CCXI

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