Sector Update: Healthcare Shares Flat to Lower; Cell Therapeutics Up 5% on Phase 3 Agreement with FDA


Healthcare stocks:

JNJ: flat

PFE: -0.69%

ABT: -0.48%

MRK: -0.46%

AMGN: flat

Healthcare shares are flat to lower in pre-market, while Myriad Genetics ( MYGN ) said results from a study showed that its myRisk Hereditary Cancer testing system improved detection of mutations in patients genetically predisposed to colon cancer by 60%.

Myriad is presenting this clinical study and data from four other studies this week at the Collaborative Group of the Americas on Inherited Colorectal Cancer ( CGA ) Annual Meeting in Anaheim, Calif. MYGN is steady pre-market at $25.11.

And Cell Therapeutics Inc. ( CTIC ) is up 5% at $1.67 after it reached agreement with the U.S. Food and Drug Administration on a Special Protocol Assessment ( SPA ) for the planned pivotal Phase 3 clinical trial, known as the PERSIST-2 trial, evaluating pacritinib in patients with myelofibrosis.

The SPA is a written agreement between the company and the FDA regarding the design, endpoints and planned statistical analysis approach of the trial to be used in support of a potential New Drug Application submission.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CGA , CTIC , MYGN , SPA

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