Healthcare stocks are outperforming most of the market Monday,
turning higher this afternoon and the NYSE Healthcare Sector Index
rising 0.3%. Shares of healthcare companies in the S&P 500 also
were up about 0.3% as a group in afternoon trade.
In company news, Oramed Pharmaceuticals Inc. (
) was sharply higher Monday, rising nearly 26% in recent trade
after earlier saying it will announce results from Phase IIa
testing of its ORMD-0801 oral insulin capsule on Thursday, Jan. 30,
at an investor conference taking place at the Tel Aviv Stock
Exchange in Israel.
The company in mid-November said that the last patient had
completed treatment in the double-blind, randomized trial of the
prospective Type 2 diabetes drug. Overall, 30 U.S. patients
participated in the trial begun last July intended to evaluate
ORMD-0801's safety profile.
During Phase I testing completed earlier in 2013, ORMD-0801 was
well tolerated and significantly stabilized blood sugar levels in
patients with uncontrolled Type 1 diabetes, resulting in a
significant drop in the frequency of above-normal blood sugar
readings along with a decrease in overall blood sugar levels
throughout the day.
ORMP shares climbed as high as $25.18 during Monday's session,
up 25.9%, and was ahead nearly 21% at $24.24 in late morning trade.
The stock has a 52-week range of $5.00 to $31.73 a share.
In other sector news,
(+) NWBO, Biotechnology company developing personalized immune
therapies for solid tumor cancers enters a series of agreements
with Cognate Bioservices allowing it to expand its manufacturing,
storage and distribution starting Jan. 17.
(-) KOOL, ThermoGenesis Drops 17%; Sells 3.3 Mln Shares at
Discounted $2.00 in Private Placement
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