Top Healthcare Stocks
Health care stocks were moderately lower, with the NYSE Health
Care Sector Index slipping about 0.4% and shares of healthcare
companies in the S&P 500 falling about 0.4% as a group.
In company news, Regulus Therapeutics (
) was lower Monday afternoon, with shares of the biotech company
getting little apparent help from U.S. regulators desiginating the
company's RG-012 experimental therapy with orphan drug status for
an inherited form of kidney inflammation.
RG-012 is a single stranded, chemically modified oligonucleotide
that binds to the microRNA-21 gene, inhibiting its functions. The
orphan drug designation is intended for the treatment of Alport
syndrome, a genetic disease characterized by end-stage kidney
disease as well as impaired hearing or vision.
RGLS said its next step is likely starting a natural history of
Alport syndrome and its progression. It expects to demonstrate
human proof-of-concept results in the Phase I testing of RG-101 as
a potential treatment of hepatitis C before the end of the year and
beginning an early-stage trial of the drug with Alport syndrome
patients during the first half of 2015.
The company's shares were down about 1.1% at $6.69 apiece,
holding 5 cents over its intra-day low. The stock has a 52-week
range of $5.40 to $11.68 a share, sliding 34% over the past 12
In other sector news,
(+) GILD, (+0.1%) Inks collaboration pact with Sandoz to
commercialize its tavaborole topical treatment for fungal
infections on toenails following its July 8 FDA approval. GILD will
receive $40 mln upfront payment and $25 mln in additional milestone
(-) GNCA, (-2.5%) Begins Phase II dose-optimization trial for
its GEN-003 drug candidate to treat Type 2 herpes simplex. Interim
results from the trial are expected in mid-2015.