Healthcare Stocks Posting Small Gains; GTx Drops Two-Thirds in Value After Cancer Drug Fails In Late Trial


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Top Healthcare Stocks

JNJ +1.39%

PFE +0.12%

ABT -0.21%

MRK -0.25%

AMGN -0.07%

Healthcare stocks are slightly higher, with the NYSE Healthcare Sector Index adding about 0.2% and shares of healthcare companies in the S&P 500 climbing about 0.3% as a group.

In company news, GTx Inc ( GTXI ) is down nearly 65% at $1.46 a share, climbing slightly off its new 52-week low of $1.31 that followed the drug-maker's saying its Enobosarm drug candidate failed to meet co-primary responder endpoints during Phase III testing in patients with non-small lung cancer.

GTXI said on Monday that the drug failed to improve body mass and physical function in cancer patients, the latter measured by improvement in their ability to climb stairs. There currently is no approved cure for cancer-induced muscle wasting, typically marked by reduced physical function, fatigue and weight loss.

There was some improvement in lean body mass during one of two late-stage studies, but GTXI said the drug overall did not meet pre-specified criteria. The company now is planning for talks with regulators in the U.S. and Europe to determine its path forward.

In other sector news,

(+) SUPN, (+8.8%) U.S. regulators approve Trokendi XR, an once-daily extended-release medication for the treatment of epilepsy. The company expects to have the drug in stores within a few weeks.

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

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