Health care stocks were mostly higher, with the NYSE Health Care
Sector Index advancing about 0.1 % and shares of healthcare
companies in the S&P 500 holding a 0.3% gain as a group.
In company news, Galectin Therapeutics (
) plunged Tuesday after the drug-maker said its GR-MD-02
experimental liver medication failed to perform better than a
placebo during Phase I testing.
The study found GR-MD-02 was safe and well-tolerated with no
reported adverse events in patients during the recent clinical
trial, according to a company presentation included in a regulatory
GALT shares were down more than 55% at $6.48 apiece, sliding to
a session low of $6.32 a share. The stock has a 52-week range of
$4.93 to $19.11 a share, rising more than 33% over the past 12
months despite Tuesday's steep drop.
In other sector news,
(+) HLS, (+7.0%) Earns $0.54 per share during Q2, ex items,
beating analyst consensus by $0.07. Revenue grows 7.1% to $604.4
mln, exceeding estimates by around $14.63 mln. Raises FY14 EPS
guidance by as much as $0.40, topping Street view by at least
(-) TRGT, (-27.38%) Discontinues work on its TC-5214 drug
candidate to treat overactive bladders after it demonstrated mixed
results during Phase IIb testing, failing to reach statistical
significance in reducing urinary incontinence compared with a
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