Healthcare stocks were higher Wednesday with the NYSE Healthcare
Sector Index climbing about 0.5% and shares of healthcare companies
in the S&P 500 advancing about 0.2% as a group.
In company news, Tetraphase Pharmaceuticals (
) rallied Wednesday, with shares of the clincial-stage biotech
climbing as much as 16.5% today after the company reported positive
top-line results from Phase III testing of its prospective
treatment for urinary tract infections.
The initial portion of the current study sought to measure the
efficacy and safety of intravenous and oral formulations of the
company's eravacycline drug candidate compared with levofloxacin, a
widely used antibiotic. According to the company, data from the
lead-in portion of the trial support advancing to its pivotal
Of the 40 patients in the IV-to-oral arm receiving IV injections
of eravacycline followed by 200 milligrams of the drug orally twice
daily, 28 - or 70.8% - met the primary endpoint of the trial while
another 26 of the patients receiving 250 milligrams met the primary
endpoint compared to just 21 in the levoflaxacin arm.
TTPH shares were ahead nearly 13.2% at $14.80 each this
afternoon, climbing to a session high of $15.24 a share earlier
today. The stock has traded within a 52-week range of $8.01 to
$17.74 a share, rising just over 50% during the past 12 months
through yesterday's close.
In other sector news,
(+) INFI, (+48.4%) Announces collaboration with AbbVie (
) to commercialize its Duvelisib cancer treatment, with ABBV paying
$275 mln for global licensing rights and could eventually pay up to
$530 mln more as the drug reaches various milestones.
(-) IRMD, (-37.6%) Discloses receiving FDA warning letter
following an inspection of its facility in April requesting the
company immediately cease activities resulting in misbranding of
its mRidium 3860 MRI infusion pump.