Healthcare stocks are lower with the NYSE Healthcare Sector
Index declining 0.3% and shares of healthcare companies in the
S&P 500 also falling 0.2% as a group.
In company news, Pain Therapeutics Inc. (
) is up nearly 43% in late trade at $3.27 a share, rising as high
as $3.45 today following reports Pfizer (
) is close to restarting Phase I testing of Remoxy - a
tamper-resistant form of oxycodone pain-killer develped by
The upcoming trial will begin later this month and examine the
effects of food on oxycodone pharmacokinetics following
40-milligram doses of the drug, according to data on the FDA
website and ClinicalTrials.gov, an online database managed by the
U.S. National Institutes of Health tracking drug and medical device
trials. The study also will measure effectiveness of Remoxy
compared with other painkillers.
) is down about 1.1% at $28.48 a share in late trade, climbing back
near its best levels of the session. Another company with Remoxy in
its pipeline is Durect Corp (
). Its shares are up nearly 23% at $1.29 each.
In other sector news,
(+) SRPT, Rival GlaxoSmithKline (
) reports disappointing clinical data for its drug candidate to
treat Duchenne Muscular Dystrophy, which analysts at R.W. Baird
said puts SPRT ahead in the race to first market a drug for the
rare, muscle-wasting disorder.
(-) MNKD, Shares reverse early gains and fall on likely dilution
concerns after saying recent clinical success for its Afrezza
inhalable insulin treatment triggered the purchase of a second $40
million tranche of 9.75% senior secured convertible notes by
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.