Healthcare stocks were extending their gains this afternoon with
the NYSE Healthcare Sector Index advancing 0.6% and shares of
healthcare companies in the S&P 500 gaining 0.7% as a
In company news, Intercept Pharmaceuticals Inc. (
) shares were poised to quadruple in price today after the
drug-maker early today said its trial to study obeticholic adic for
the treatment of nonalcoholic steatohepatitis was stopped earlier
than planned after already meeting the primary endpoint.
Analysts claimed the decision to end trials is an indication of
the rush to make available a treatment for a disease the Intercept
CEO claims is at "epidemic proportions."
Other pharmaceutical companies engaged in the research and
development of treatments for liver diseases gained today as well.
Conatus Pharmaceuticals Inc (
) was nearly 90% higher this afternoon at around $11.60, although
well off a new record high of $14.17 hit earlier.
Galectin Therapeutics Inc. (
) gained almost 30% at around $10.90, earlier rising to an
intra-day high of $11.38.
In other sector news,
(+) CRDC, Receives U.S. Food and Drug Administration 510(k)
clearance for its MicroCutter XCHANGE 30 device and blue staple
cartridge for medium thickness tissue for use in multiple open or
minimally invasive surgical procedures.
(-) AEZS, Prices sale of 11.0 million equity units at $1.20
each, producing $12.2 mln in net proceeds after offering costs were
deducted. Each unit consists of one common share and a five-year
warrant to buy 0.8 of a share at $1.25 per share.
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