Sector Update: Healthcare

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Healthcare stocks are holding on to small gains today with the NYSE Healthcare Sector Index climbing about 0.1% while shares of healthcare companies in the S&P 500 gaining about 0.4% as a group.

In company news, Oncolytics Biotech Inc. ( ONCY ) is up over 21% at $3.22 a share after the development-stage company reported positive final tumor response data from Phase II testing of its Reolysin drug candidate in combination with carboplatin and paclitaxel in patients with squamous cell carcinoma.

The analysis examined best overall tumor responses between pre-treatment and up to six treatment cycles. Out of 25 evaluable patients who had more than one cycle of therapy, 23 - or 92% - of the test subjects exhibited overall tumor shrinkage. Mean shrinkage was 32.7%.

In other sector news,

(+) ISIS, Receives $100-mln upfront payment from Biogen Idec ( BIIB ) as part of multi-year pact to research, develop antisense technology to treat neurological diseases.

(-) ESRX, Acquires the SmartD Medicare Prescription Drug Plan, adding around 87,000 covered Medicare patients. Financial terms were not disclosed.



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This article appears in: Investing , Commodities

Referenced Stocks: BIIB , ONCY

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