Health care stocks were lower, with the NYSE Health Care Sector
Index falling 0.4% and shares of health care companies in the
S&P 500 declining 0.3% as a group.
In company news, Regado Biosciences (
) shares fell Thursday after U.S. regulators late Wednesday placed
a clinical hold on testing of the company's REG1 drug candidate,
one week after RGDO said it was voluntarily suspending a Phase III
trial of the investigational anticoagulant drug to study allergic
reactions among some of the patients using the drug.
According to the company, the agency action was taken to
formalize the U.S. Food and Drug Administration's involvement in
any future decision to resume patient enrollment and dosing in the
The company July 2 said it was beginning an unplanned review of
trial data by its Data Safety Monitoring Board, including a full
benefit-risk analysis of all 3,234 patients enrolled so far, with a
focus on "serious adverse events related to allergic reactions."
The review is expected to take about eight weeks, with RGDO and the
trial administrators remaining blinded to the study data during
RGDO shares were off 7% at $2.51 apiece in recent trade, earlier
falling to $2.43 to establish a new all-time low for the third time
in five sessions. Prior to today, the stock had dropped 60% since
the company announced the trial suspension, including a 58% plunge
Overall, the stock was down nearly 81% from its March 19 high of
$14.10 a share through Wednesday's close and slipping 32.5% from
its $4 initial public offering price last August.
In other sector news,
(+) CRY, (+6.7%) Names Pat Mackin to be president and CEO,
effective Sept. 2. The former Medtronic (
) executive replaces Steven Anderson, who will become executive
board chairman at the company. Mackin also is expected to join the
(-) OCRX, (-15.9%) Price public offering of 4.2 mln shares at $6
each, a 15.8% discount to Wednesday's closing price. Net proceeds
will fund clinical testing of its OCR-002 investigational drug to
treat complications of cirrhosis and acute liver failure.
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