Sector Update: Healthcare

By Staff,

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Healthcare stocks slightly lower today were with the NYSE Healthcare Sector Index slipping about 0.3% and shares of healthcare companies in the S&P 500 also down about 0.5% as a group.

In company news, Amicus Therapeutics ( FOLD ) rallied Monday, with shares of the biotech and drug-maker jumping to a 17-month high after saying a late-stage study of its migalastat HCl monotherapy for Fabry patients is now complete, with top-data due out during the next three months.

Farbry disease is a rare genetic lysosomal storage disease causing a wide range of systemic symptoms such as full-body or localized pain, often first experienced in early childhood. FOLD said if the now completed study is successful, it will soon begin the process of seeking European regulatory approval, followed by discussions with the Food and Drug Administration before the end of the year.

"Hopefully, migalastat will become an important new medicine for the treatment of Fabry disease, where so much unmet need remains," CEO John Crowley said in prepared remarks.

FOLD shares were up almost 10% at $3.33 apice late in today's session, earlier climbing as high as $4.06 a share, up nearly 34%. Heading into Monday trading, the stock has risen 31.2% over the past 12 months through Friday's close.

In other sector news,

(+) DRNA, Announces positive preclinical data for its DCR-PH1 drug candidate to treat primary hyperoxaluria type 1, a rare, inherited liver disorder causing progressive kidney damage.

(-) RMD, Cautious mention this weekend in Barron's, which writes the company's shares could fall as much as 15% if the federal government sides with proposals to cut its reimbursement for home medical care costs.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: FOLD

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