Healthcare stocks were broadly higher Monday with the NYSE
Healthcare Sector Index climbing about 0.4% and shares of
healthcare companies in the S&P 500 gaining nearly 0.7% as a
In company news, Ampio Pharmaceuticals (
) rallied after the company said it expects to file a biologics
license application for its Ampion drug candidate early in 2015 and
assured investors it has sufficient funds to continue operations
for at least the next 16 months.
In a letter to shareholders released this morning, the
drug-maker said barring any additional complications with its
current STEP trial, it should file the biologics license
application by March 31, 2015. The company last week said a
supplier mishandled the drug, exposing it to near-freezing
temperatures and possibly affecting its efficacy, casting doubt on
the study results.
AMPE said it believes useful data can still be obtained from the
STEP study within several weeks, although it also said if the U.S.
Food and Drug Administration is unable to accept those results it's
unlikely it would repeat the study again.
Instead, the company would then rely on positive results from
another study completed late last year as well as data from a
multiple-injections study in the supporting documents for the
biologics license application.
The company also said it has enough cash on hand to maintain
operations through 2015 while completing planned clinical trials
and filing for regulatory approvals as long as they do not directly
commercialize either of their two lead drugs.
AMPE shares were up nearly 6% this afternoon at $5.09 apiece,
earlier climbing to a session high of $5.56 a share. The stock has
traded within a 52-week range of $4.83 to $10.86 a share, dropping
over 23% over the past 12 months.
In other sector news,
(+) ITMN, (+35.9%) Agrees to $8.3 bln buyout offer from Roche (
), which will pay ITMN shareholders $74 for each share they
(-) RGDO, (-51.8%) Permanently halts enrollment in Phase III
trial of Revolixys Kit, its lead candidate aimed at precisely
controlling blood clotting following analysis of the first 3.250
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