Sector Update: Healthcare

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Healthcare stocks are mostly higher with the NYSE Healthcare Sector Index gaining 0.3% and shares of healthcare companies in the S&P 500 climbing 0.5% as a group.

In company news, Cytokinetics ( CYTK ) is up nearly 2% to $11.13 a share, but off an early day high of $11.62 after publishing Phase II trial data for its tirasemtiv drug candidate in patients with Amyotrophic lateral sclerosis, or ALS.

The trials evaluated the tolerability of tirasemtiv at doses up to 500 milligrams daily for up to three weeks, with the results showing tirasemtiv was well-tolerated in these patients, with dizziness the most common adverse event. As predicted from earlier non-clinical and clinical studies, using tirasemtiv with riluzole roughly doubled the plasma concentration of riluzole compared to the administration of riluzole without tirasemtiv.

The test results were published in the journal Amyotrophic Lateral Sclerosis and Frontotemporal Degeneration.

In other sector news,

(+) ONXX, (+1.7%) Reportedly agrees to give potential buyers, including Amgen ( AMGN ), access to trial data for its new cancer drug, removing a key hurdle that's been holding up deal talks according to Reuters, citing three people familiar with the matter.

(+) SNY, (+0.1%) Cut to Market Perform from Outperform at Cown & Co.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: AMGN , CYTK

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